Azalea Close. Azalea Close. Long Let Warehouse Investment Opportunity. Unit 2. Clover Nook Industrial Estate Alfreton Derbyshire DE55 4QX.

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Barnaby Powell
5 years ago
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1 Clover Nook Industrial Estate Alfreton Derbyshire DE55 4QX

Investment Summary Distribution warehouse unit located on Clover Nook Industrial Estate in Alfreton, Derbyshire Situated adjacent to the A38 dual

5 miles) east of the property Fully refurbished warehouse unit extending to 8,016 sq m (86,284 sq ft) Site area of 1.307 hectares (3.

December 2012, providing an long unbroken unexpired term of 17 years 8 months Current passing rent of 206,925 per annum reflecting only 2.

3 Investment Summary Distribution warehouse unit located on Clover Nook Industrial Estate in Alfreton, Derbyshire Situated adjacent to the A38 dual carriageway, which provides direct access to the M1 motorway at Junction 28, 2.4 km (1.5 miles) east of the property Fully refurbished warehouse unit extending to 8,016 sq m (86,284 sq ft) Site area of hectares (3.23 acres) Freehold Let to Recticel Limited with a guarantee from the strong covenant of Recticel SA for a term of 19 years without break from 21 st December 2012, providing an long unbroken unexpired term of 17 years 8 months Current passing rent of 206,925 per annum reflecting only 2.40 per sq ft We are instructed to seek offers in excess of 2,450,000, subject to contract and exclusive of VAT. A purchase at this level would reflect an a rac ve net ini al yield of 8.00% allowing for purchaser s costs of 5.80% and reflec ng a low capital value of psf.

4 Location Alfreton is a town in Derbyshire with a population of 7,928 persons, located approximately 15 km (9 miles) South West of Mansfield, 26 km (16 miles) North East of Derby and 26 km (16 miles) North West of Nottingham. The location benefits from excellent transport links due to its proximity to the A38 dual carriageway, which provides direct access to J28 of the M1 approximately 2.4 km (1.5 miles) distant. East Midlands Airport is accessible via the M1 at Junction 24, located approximately 42 km (26 miles) to the South. Alfreton is well served by public transport. Alfreton Railway Station is located 3.5 km (2.2 miles) north of the property, offering northbound connections to Sheffield and Leeds, and southbound connections to Nottingham and London. Local bus services provide connections to Mansfield, Derby and Nottingham amongst others. Situation Clover Nook Industrial Estate is a well-established industrial and distribution location extending to ha (91.18 acres). The estate provides a range of industrial units built between the 1970s and 1980s, with the development of modern units to the south west of the property in recent years. The subject property is located at the top of, a cul-de-sac connecting with Clover Nook Road, in the heart of Clover Nook Industrial Estate. Clover Nook Road provides access to the A38 within 0.8 km (0.5 miles) of the subject property via Bramble Way and Birchwood Lane. Local occupiers include Eurocell, Slimming World, S T M Healthcare, Sylmar Technology Ltd, Graingers International, Keramikos and The Glassware Co Ltd.

Description The property comprises a detached steel portal frame distribution warehouse unit with 2-storey office accommodation, constructed in the 1970s but extensively refurbished in 2013.

5 Description The property comprises a detached steel portal frame distribution warehouse unit with 2-storey office accommodation, constructed in the 1970s but extensively refurbished in Height to the underside of the eaves is 5m and loading provision is by means of 4 independent roller shutter doors, leading out to a concrete service yard. The property was extensively refurbished in 2013 with works including:- Internal and external redecoration The installation of brand new internal office facilities Re-cladding of the front elevation Replacement of internal roof lights Replacement of all vehicle loading doors Cleaning, re-sealing and repainting of the floor slab The tenant occupies a number of buildings in the immediate vicinity, including the adjacent building, where the tenant has created a link between the buildings. Accommodation The unit has been measured in accordance with the RICS Code of Measuring Practice (6 th Edition) and provides the following floor areas. Description Sq M Sq Ft Warehouse 7,363 79,256 Ground Floor Offices ,514 First Floor Offices ,514 Total 8,016 86,284

Site The site extends to approximately 1.

23 acres) providing a site coverage of 58.

Tenancy The property is let in its entirety

break from 21 December 2012, expiring 20

The lease provides for 5 yearly upward only

premises beyond the condition evidenced by

6 Site The site extends to approximately hectares (3.23 acres) providing a site coverage of 58.8%. Tenure Freehold. Tenancy The property is let in its entirety on full repairing and insuring terms to Recticel Limited with a guarantee from Recticel SA for a term of 19 years with no break from 21 December 2012, expiring 20 December The current passing rent is 206,925 per annum reflecting 2.40 per sq ft. The lease provides for 5 yearly upward only rent reviews to open market value, with the next rent review due December The tenant is not required to repair the premises beyond the condition evidenced by a Schedule of Condition. The tenant was granted a 20 month rent free period which will be topped up by the vendor at completion. A 38 Tanks Tank El Sub Sta El Sub Sta

7 Covenant Recticel Limited operate from various locations across the UK including Stoke-on-Trent, Glossop and Manchester and are a subsidiary of Recticel SA, a Brussels based company specialising in the manufacture of polyurethane foam products. The Recticel Group concentrates on four selected fields that include flexible foams and automotive (semi-finished products) as well as bedding and insulation (finished consumer goods). Recticel has over 8,200 employees and 103 principal production units in 28 countries. The Group operates throughout Europe and also pursues a number of activities in North America and Asia. Summary accounts for the Recticel Limited are as follows:- Rec cel Limited Company Number D&B Business Report 31/12/ /12/ /12/2010 Turnover 100,797,000 93,083,000 78,340,000 Pre tax Profit (669,000) (1,257,000) (21,865,000) Summary accounts for the Recticel SA are as follows:- Rec cel SA Company Number D&B Business Report 31/12/ /12/ /12/2010 Turnover 325,656, ,387, ,497,405 Net Worth 237,391, ,438, ,918,396 Recticel SA have a D&B rating of 5A1 representing a tangible net worth of 237,391,046 and a minimal credit risk. VAT The property is elected for VAT and therefore we anticipate that the transaction will be structured as a transfer of a going concern (TOGC). Net Worth 12,057,000 12,726,000 13,983,000 Recticel Limited have a D&B rating of 3A1 representing a tangible net worth of 12,057,000 and a minimum risk of business failure. Proposal We are instructed to seek offers in excess of 2,450,000 subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net ini al yield of 8.00% allowing for purchaser s costs of 5.80% and reflecting a low capital value of psf.

Viewing and further information For further

please contact:- JLL - Birmingham 45 Church

0121 214 9941 Email: allan.wilson@eu.jll.

ngham City Gate East No ngham NG1 5FS James

This plan is published for the convenience

to be correct is not guaranteed and it does

the vendors of this property whose agents

particulars are set out as general outline

all descriptions, dimensions, references to

and occupation and other details are given

correct, but any intending purchaser should

representations of fact but should satisfy

8 Viewing and further information For further information, or to arrange an inspection please contact:- JLL - Birmingham 45 Church Street Birmingham B3 2RT Allan Wilson Tel: allan.wilson@eu.jll.com jll.co.uk/property JLL No ngham City Gate East No ngham NG1 5FS James Keeton Tel: james.keeton@eu.jll.com Crown Copyright All rights reserved. Promap licence number Jones Lang LaSalle licence number This plan is published for the convenience of identification only and although believed to be correct is not guaranteed and it does not form any part of any contract. Misrepresenta ons Act 1967 & Declara on Jones Lang LaSalle for themselves and for the vendors of this property whose agents they are give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Jones Lang LaSalle has any authority to make or give any representation or warranty whatever in relation to this property. May 2014.

Units C1 & C2. Avenue Industrial Estate Pentwyn CF23 8HE PRIME REVERSIONARY SINGLE LET INVESTMENT

Units C1 & C2. Avenue Industrial Estate Pentwyn CF23 8HE PRIME REVERSIONARY SINGLE LET INVESTMENT PRIME REVERSIONARY SINGLE LET INVESTMENT Selling on behalf of A C Wright & S J Hunt - Joint LPA Receivers INVESTMENT SUMMARY Strategically situated in an established industrial location, with easy access