Horton road IndustrIal EstatE · 2015-08-17 · InvEstmEnt ConsIdEratIons West london multi-let...
Transcript of Horton road IndustrIal EstatE · 2015-08-17 · InvEstmEnt ConsIdEratIons West london multi-let...
Multi-let industrial investMent OppOrtunity
Horton road IndustrIal EstatE West draytOn Middlesex uB7 8Jl
Stockley Park East
Central London
Hayes & Harlington StationLondon Heathrow Airport
M25
M4
Stockley Park West
Subject Property
Drayton Garden Village31 acre residential development comprising 800 new homes, 80 bed care home, office and retail.
InvEstmEnt ConsIdEratIons■■ West london multi-let industrial investment
opportunity located in a prominent position close to Stockley Park.
■■ Freehold site extending to 1.85 acres (0.74 ha)
■■ The property comprises 39,077 sq ft (3,630 sq m) of light industrial accommodation arranged over 14 units
■■ Passing rent of £289,756 per annum, equating to a low base rate of £7.41 per sq ft.
■■ proposed Crossrail destination at Hayes and Harlington railway station, approximately 3 miles to the east
■■ asset management opportunities
■■ The property benefits from a low vacancy rate of 2.8%.
■■ Offers are sought in excess of £3,910,000 (three million nine Hundred and ten thousand Pounds). Assuming usual purchaser’s costs of 5.8%, a purchase at this level reflects a net initial yield of 7%, a Capital value of £100 psf.
LONDONHeathrow
LondonCity
Gatwick
StanstedLuton
J27J25J23
J21
J20
J19
J16
J15
J12
J10
J7J8
J9
J6
J5
J3
J2
J29
J28
A5
A505
A418
A602A131A130
A138
A130
A127
A217
A331
A322
A339
A316
A309
A232
A264
A264
A229
A120
A404
A355
A404
A413
A4142
A4010
A414
A414
A414
A1
A2
A3
A3
A41
A34
A40
A31
A24
A22
A21
A20
A10
A10
A12
A12
A13
A26
A21
A23
A23
A420
A303
A34
A34
A44
A40
M1
M4
M4
M2
M3
M3
M10
M40
A404(M)
A329(M)
M25
M25
M25
M25
M25
M25
M23
M26
M20
M20
M11
M11
A1(M)
M1
Harlow
Bishop’sStortford
EppingPotters Bar
Knebworth
Hertford
LUTON
Aylesbury
Dunstable Stevenage
Hatfield
Dartford
Bromley
Gravesend
Gillingham
Shoreham
Rochester
Sittingbourne
Croydon
Biggin Hill
Romford
Sevenoaks
Tonbridge
RoyalTunbridge
Wells
Maidstone
Snodland
Sheerness
StaplehurstPaddock
Wood
East GrinsteadCrawley Three Bridges
Horley
Horsham
Witley
Godalming
Cranleigh
NorthHorsham
HaywardsHeath
Burgess Hill
Redhill
Oxted
DorkingGUILDFORD Reigate
Staines
Slough
HemelHempstead
Chesham
Berkhamsted St Albans
HighWycombe
Thame
Watford
WembleyUxbridge
Ruislip
Rickmansworth
BrentCross
Woking
SouthOxney
WEST DRAYTON
HarefieldHarrow
Borehamwood
Enfield
Windsor
Famborough
Aldershot
Alton
BASINGSTOKE
Famham
Fleet
WokinghamBracknall
Egham
Ascot
SandhurstBagshot
READING
OXFORD
Henley-on-ThamesMaidenhead
EpsomSutton
Swanley
Fulham
Ashford
RichmondHounslow
KingstonUpon Thames
BillericayWickford
Stanford-le-Hope
Southend-on-SeaBenfleetCanveyIsland
Brentwood
Chelmsford
ChippingOngar
Basildon
Welwyn GardenCity
Walton-on-Thames
Clapham
Harpenden
Heathrow-T1-2-3
Hatton Cross
Uxbridge
Hillingdon
Ickenham
Ruislip
Northolt
RuislipGardens
Hounslow West
Langley
Warysbury
Heathrow-T5Heathrow-T1-3
Heathrow-T4
Feltham
Sunnymeads
Datchet
Iver
West Drayton
SouthRuislip
West Ruislip
Hayes &Harlington
Southall
HEATHROW
J16
J15
A30
A30
A40
A412
A412
A408
A408
A437
A437
B483
B466
B467
B470
A312
A4007
A4020
A3044
A3113
A4020
A4
M4M4
M40
M25
M25
Fulmer
Iver Heath
Iver
Richings Park
Colnbrook
Horton RoadIndustrial Estate
loCatIonWest Drayton is a mixed commercial and residential area located in South Uxbridge within the north-west M25 quadrant, approximately 18 miles west of Central London, 3.5 miles north of Heathrow Airport and 27.5 miles north east of Reading.
Uxbridge is considered to be one of the principal commercial centres in the UK and is home to a thriving business community and affluent population. As a result of the town’s excellent transport communications and skilled labour force, Uxbridge has attracted an array of corporate occupiers including; Xerox, Coca Cola, Hertz, Amgen Pharmaceuticals and Nexen Petroleum.
West Drayton benefits from excellent road communications with the M4 (Junction 4) located approximately 1.5 miles south via the A408 Stockley Road which in turn leads directly to the M25 (Junction 15). The area is served by both West Drayton and Hayes & Harlington railway stations which both provide regular services to Oxford, Reading and Central London with typical journey times to London Paddington being less than 25 minutes. The area is also set to benefit from the development of crossrail in 2018.
sItuatIonThe site is accessed from Horton Road which provides the main thoroughfare between Yiewsley, West Drayton, Stockley Park and Hayes, whilst also providing direct access to Stockley Road (A408).
As well as being an established industrial centre, Horton Road is the focus for a number of major retailers and car dealerships including Screwfix Direct, BMW (Mini) and Telsa. Other surrounding occupiers include; John Guest Limited, Toolstation, Pilkington Automotive and HSS Hire.
Approximately 0.5 miles east of the subject property is Stockley Park which is considered to be one of the UK’s leading business parks providing over 1.74 million sq ft of prime office accommodation.
Paddington
ShenfieldRomford
Brentwood
HaroldWood
GideaPark
CustomHouse
ChadwellHeath
Goodmayes
SevenKings
ManorPark
IlfordForestGateStratford
WhitechapelFarringdonIverSloughTaplowBondStreet
ActonMain Line
WestEaling
TottenhamCourt Road
CanaryWharf
Liverpool Street
Langley WESTDRAYTON
HeathrowAirport
EalingBroadwayHanwell
Southall
Hayes &Harlington
AbbeyWood
Maryland
Woolwich
BurnhamMaidenhead
Surface line
Tunnel
Portal (tunnel entrance and exit)
CrossraIl
© Crown Copyright, ES 100004106. For identification purposes only.
sItE
the property comprises a site area of 1.85 acres (0.74 hectares) which provides a site coverage of approximately 48.45%.
FrOM West draytOn > HeatHrOW airpOrt > lOndOn paddingtOn > tOttenHaM COurt rOad > FarringdOn > lOndOn liverpOOl street > WHiteCHapel > Canary WHarF8 mins 20 mins 25 mins 28 mins 31 mins 34 mins 37 mins
dEsCrIPtIonThe property comprises a multi let industrial estate of 14 units totalling 39,077 sq ft (3,630 sq m). The individual units range from 1,106 sq ft (102 sq m) to 5,736 sq ft (532 sq m). the units are arranged over three terraces which run adjacent to the western and southern boundaries of the site.
The largest terrace, situated to the northern end of the site, comprises 14 industrial units of brick construction with a double pitched roof. Each unit provides an office/ reception area to the front with light industrial space to the rear benefitting from skimmed concrete floors, c. 3 metre eaves and roller shutter door access.
the two terraces to the rear of the site comprise four units of steel portal frame construction with steel clad elevations and, mix of steel and asbestos pitched roofs. The units benefit from c. 4 metre eaves, skimmed concrete flooring and roller shutter access.
All units benefit from designated parking to the front of the units and a communal parking area situated to the centre of the site.
tEnanCy sCHEdulE
unit ref tenant name area sq m
area sq ft
rent p.a.
rent psf
lease start lease expiry Comment
HI.03 The Good Food Company of Harefield Ltd. 145.02 1,561 £15,610 £10.00 03/11/2014 02/11/2016 Contracted out of 1954 Act
HI.03A Pinnacle Joinery Ltd. 218.88 2,356 £21,207 £9.00 11/02/2015 10/02/2017 Contracted out of 1954 Act
HI.03B Generation (UK) Ltd. 264.96 2,852 £28,524 £10.00 18/07/2014 08/04/2018 Next Rent Review 18/7/17
HI.04 The Good Food Co. of Harefield Ltd. 532.89 5,736 £40,600 £7.08 12/01/2004 11/01/2014 Section 25 served
HI.05A The Good Food Co. of Harefield Ltd. 340.21 3,662 £25,400 £6.94 12/01/2004 11/01/2014 Section 25 served
HI.05B John Charles Potter 288.83 3,109 £20,520 £6.60 25/12/2013 24/12/2015 Rolling break subject to 6 months notice
HI.05C Carmal Autocenter Ltd. & Fadia Mohamed 507.90 5,467 £16,401 £3.00 28/09/2009 27/09/2014Rolling break subject to 3 months notice Section 25 served
HI.05D A1 Cooked Meats Ltd. 247.77 2,667 £20,000 £7.50 24/12/2003 23/12/2013 Section 25 served
HI.08 Generation (UK) Ltd. 457.08 4,920 £37,800 £7.68 09/04/2013 08/04/2018 Next Rent Review 9/4/16
HI.09A Vacant 102.75 1,106 £11,060 £10.00 Vendor to provide 1 year rental gaurantee
HI.09B The Good Food Company of Harefield Ltd. 204.38 2,200 £16,500 £7.50 01/12/2011 30/11/2013 Notice served to vacate 8 April 2015
HI.10A Aero Cargo (UK) Ltd. 131.55 1,416 £16,896 £11.93 01/02/2013 31/01/2015
HI.10B/C Kazpac Packaging Ltd. & Hussain Kazi 188.13 2,025 £19,238 £9.50 17/09/2012 16/09/2015
Sub Station Southern Electric Plc £1 24/03/1995 22/03/2016
total 3,630.34 39,077 £289,756 £7.41
sErvICE CHargEThe service charge budget for the current financial year ending 31/03/2015 is £32,868 equating to £0.84 per sq ft.
non rECovErablEsThe current vacancy rate is 1,106 sq ft, equating to 2.8%
service Charge £929.00
rates £4,193.00
total £5,122.00
CovEnantGeneration (UK) LimitedExperian Rating: 100 (Very Low Risk)D&B: TBC
turnover £68,951,000
Pre-Tax Profit £9,518,000
total net Worth £35,078,000
The Good Food Company of Harefield LimitedExperian Rating: 82 (Low Risk)D&B: TBC
turnover £n/A
Pre-Tax Profit £n/A
total net Worth £412,322
Tenancies as at 02/02/2015.
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 02.15
ProPosal Offers are sought in excess of £3,910,000 (three million nine Hundred and ten thousand Pounds). Assuming usual purchaser’s costs of 5.8%, a purchase at this level reflects a net initial yield of 7%, a Capital value of £100 psf.
Guy Scott Plummer020 7543 [email protected]
For FurthEr inFormation or to makE arrangEmEntS For viEwing plEaSE ContaCt:
www.allsop.co.uk
Scott Tyler020 7543 [email protected]
James Salmon020 7543 [email protected]
EPCthe property has been rated d on the epC scale (82 - 100). EPC certificates available upon request.
vatthe property is elected for vat purposes and therefore vat will be payable by the purchaser, unless the sale is structured as a TOGC.
tEnurEFreehold.