UNIT 10 SLOUGH INTERCHANGE WHITTENHAM CLOSE, SLOUGH, SL2 5EP FREEHOLD INVESTMENT SALE ON THE INSTRUCTIONS OF STEPHEN SKINNER AND CHRISTOPHER WAKEMAN ACTING AS LPA RECEIVERS
Investment summary Fully let, modern warehouse unit located in a well established industrial area of Slough Let to 2A excellent covenant AGI World Ltd 20 year lease commencing on the 3rd July 2013 at a rent of 47,104 per annum The unit provides a total of 5,743 Sq Ft (433.72 Sq M) Freehold We have instructions to seek offers in excess of 700,000 plus VAT for our client s freehold interest. An offer at this level would reflect a net initial yield of 6.36% after deducting purchaser s costs at 5.8%. 2
l Location The property is located in Slough. The town is situated 20 miles west of Central London and 5 miles from the motorway. The estate has convenient access to Junctions 5, 6 and 7 of the, via Bath Road (A4). Slough enjoys excellent connectivity with easy access to the national motorway network, rail and air. Slough train station has regular services to London via Paddington, Maidenhead and Reading. A40 Oxford A4010 3 M1 M1 A1(M) London Heathrow Airport is located approximately 7 miles (11 km) to the east, whilst Gatwick Airport is 46 miles (74 km) to the south east. Situation 7 Reading A4 A404 A322 A355 Slough A40 A316 London A23 Unit 10 Slough Interchange is located within the well established, multi-let industrial estate located in Slough town centre, a major commercial hub within the Thames Valley. M3 Woking A217 A217 The unit is situated on Mill Street, which is to the north of Slough town centre. The estate links to Welling Street which leads onto the. Queens Rd B416 St Johns Rd Other National retailers and trade occupiers that are located within close proximity include; Howdens Joinery, Dobsons, Magnet, Dulux and Volvo. The tenant also occupies 3 further units on the estate. Crown Copyright 2015. All rights reserved. Not to scale. Bristol Way Wellington St Stoke Gdns Windsor Rd Grays Rd B416 Stoke Rd Mills St Railway Terrace Brunel Way Chapel St Grays Pl Slough Station Mill St St Pauls Ave St Pauls Ave Petersfield Ave Petersfield Ave Wellington St Wellington St Wellington St Whittenham C Wellesley Rd Albion Cl Diamond Rd 2 2 3
Description The unit comprises modern industrial space built to a high specification including steel portal frame construction, concrete flooring with a maximum height of 9.76m. Accommodation We have measured the premises in the accordance for the RICS Code of Measuring Practice (6th edition) and have calculated the following Gross Internal floor area. The unit benefits from an entrance area, warehouse, kitchenette and WC s on the ground floor and offices on the first floor. Externally there is loading area, roller shutter door and personnel door to the front of the unit, and a further 4 car parking spaces on the estate. Floor Area Sq Ft Sq M Ground Floor 4,776 443.72 First Floor Offices 967 89.85 Total GIA 5,743 533.57 4
Tenancy The property is let in its entirety to AGI World Ltd. The Lease is for a term of 20 years commencing on commencing on the 3rd July 2013 at a rent of 47,104 per annum. There are mutual breaks on 2nd July 2015, 2017, 2019, 2021, 2023, 2025, 2027, 2029, 2031 subject to serving a Break Notice on the other party not less than 6 months before the relevant Break Date. There are also opportunities to review the rent on the dates above. We understand the total current net income received for the unit and the allocated parking spaces is 47,104 per annum exclusive. This provides an AWULT of 17.69 years to expiry and 1.68 years to the break. Covenant AGI World Ltd AGI World Ltd, a global packaging and printing business, with facilities throughout the world. The business was recently shortlisted for the prestigious UK Packaging Awards 2013, with its key clients including Paramount, Superdrug, Boots and Disney. The Graydon Rating is 2A excellent with low risk. EPC The property has an energy performance rating of E with a score of 101. Tenure Freehold. VAT All prices, premiums and rents etc. are quoted exclusive of VAT at the prevailing rate. Consideration will be given to the transaction by way of a TOGC subject to solicitors verifying the position and further advice from HMRC. Proposal We have instructions to seek offers in excess of 700,000 plus VAT for our client s freehold interest. An offer at this level would reflect a net initial yield of 6.36% after deducting purchaser s costs at 5.8%. Contacts For further information, or to arrange a viewing, please contact: Sarah Monk Caroline Waldron Capital Markets Business Space 023 8024 9180 01628 678184 smonk@lsh.co.uk cwaldron@lsh.co.uk The certificate is available on request. Lambert Smith Hampton 5 Town Quay Southampton SO14 2AQ Subject to Contract and Exclusive of VAT Lambert Smith Hampton November 2015 Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any ( LSH ) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists impressions or architects drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. 5