FOR SALE WAREHOUSE INVESTMENT/ DEVELOPMENT OPPORTUNITY CHENEY MANOR INDUSTRIAL ESTATE / SWINDON SN2 2QG
Investment / development summary Offers in the region of 2,350,000 (Two Million Three Hundred and Fifty Thousand Pounds), plus VAT. Principally let to JB Global Limited at an annual rent of 185,000 per annum exclusive. Total site area approximately 8.62 acres (3.49 hectares). Additional roadside redevelopment opportunity on 1.1 acres (0.45 hectares). Low initial capital and rental values. Net initial yield 7.5% after costs, excluding the development opportunity.
Location Swindon is the principal town of North Wiltshire and strategically positioned between Junctions 15 and 16 of the M4 motorway. London is approximately 80 miles to the east and Bristol 40 miles to the west. The town has always benefitted from an active industrial/warehouse sector with other principal employers including Honda, BMW, Aldi and B&Q. Akers Way Cheney Manor Rd. A419 to M5 Cheney Manor Industrial Estate is centrally located within the town and forms one of the main employment areas. Access is gained via the Great Western Way dual carriageway and the estate is approximately 2 miles north west of the town centre. Darby Close Cheney Manor Ind. Est. A420 to Oxford The estate has an established warehousing and manufacturing base, including an element of trade and roadside occupiers. TOWN CENTRE Great Western Way 16 Great Western Way M4 A419 M4 Google maps Google street view 15
Description The property comprises a detached former manufacturing and warehouse facility on a self-contained plot. The principal warehouse area is constructed of six portal frame bays with both surface and dock level loading at one end. Internal eaves height is approximately 18ft (5.5m). Externally the site accesses onto the main estate road at either side of the building and has a large rear surfaced yard area. The warehouse area is currently let to JB Global. The property also benefits from access to the rear from Darby Close. At the front of the site remains a former three storey office block fronting the main estate road. This currently has asbestos within it. An asbestos report and a demolition quotation is available on the information page. Previously this part of the site had planning permission for a small unit development fronting the main estate road. Cheney Manor already has a strong trade presence with other operators such as Tool Station; Speedy Hire; Enterprise Rent-a-Car and Camberley Auto Factors. The proposal was to develop a scheme to attract other similar trade operations. Details of the previous planning consent, which has now lapsed, are available from the agents. Home Summary Location Description Tenancy Property Information Proposal Information Print
Tenancy information The principal warehouse area is let to JB Global Limited for a term of 5 years from 22nd May 2014. The lease is effectively a full repairing and insuring lease. The repairing liability of the tenant is limited to return the property in as good a state, repair, condition and decoration as evidenced by a Schedule of Condition which is attached to the lease. The tenant is not responsible for the condition, maintenance, repair or replacement of the roof of the property, other than to make good any damage that is caused by the tenant. The lease is excluded from the Landlord and Tenant security of tenure provisions. A copy of the lease is available on the information page. Rent passing 185,000 per annum exclusive payable quarterly in advance. JB Global Limited is a successful and expanding furniture retail operation trading as Oakland Furniture Land. An Experian credit check is available from the agents. JB Global Limited, company registration, 05573571, shows a below average risk and is scored at 69. Turnover in the financial year to 30th September 2012 was 83,383,349, pre-tax profit 9,170,875. The company is based in Swindon and occupies a number of warehouse properties. A copy of the credit search is available on the information page. The property is to be sold on the remainder of a 999 year peppercorn leasehold interest. The freehold interest can be purchased from July 2026 onwards for the sum of 1. Please contact the agents for further information. Home Summary Location Description Tenancy Property Information Proposal Information Print
Property and site information The site in all comprises 8.62 acres (3.49ha). The principal warehouse area is 207,000 sq ft (19,231 sq m) which is currently let to JB Global Limited. Front redevelopment plot (marked blue) approximately 1.1 acres (0.45 ha) incorporating redundant office unit.
Proposal Offers in the region of 2,350,000 (Two Million Three Hundred and Fifty Thousand Pounds), plus VAT, part let to JB Global Limited. Excluding the redevelopment site at the front, this would show a net initial yield of 7.5% after allowing purchaser s costs of 5.8%. Quoting capital value 11.35 per sq ft excluding development site. Low rental value 0.90 per sq ft per annum exclusive. Roadside development opportunity.
Information Please click below to view the further information. Energy Performance Certificate Company information Lease information Asbestos report Demolition quotations Warehouse plan For further information or an appointment to view please contact: Paul Whitmarsh MRICS paul@whitmarshlockhart.com Whitmarsh Lockhart 5 Stanton Court, South Marston Park, Swindon SN3 4YH Whitmarsh Lockhart for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute any part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Whitmarsh Lockhart has any authority to make or given any representation or warranty whatever in relation to this property. Document produced September 2014. Designed and produced by Obelisk Design Ltd. 01793 861400 obelisk-design.com