SINGLE LET SOUTH EAST WAREHOUSE INVESTMENT WITH DEVELOPMENT POTENTIAL (SUBJECT TO PLANNING)

BROWN KNIGHT & TRUSCOTT LTD | NORTH FARM ROAD, , , TN2 3BW LOCAL OCCUPIERS A21 Currently being upgraded to dual carriageway.

www.knightswood.co.uk Residential development by Dandara Train to

Subject Property

High Brooms Station

Train to North Farm Road occupiers Tunbridge Wells Boundary for indicative purposes only A20 A228

M25 LOCATION M20 A233 M20 M26 A20 The unit is located on the High Brooms Industrial Estate. Access is via Chapman

Way which is off North Farm Road, the main route into the estate. NORTH FARM ROAD CHIPSTEAD A25 A228 M26 Royal Tunbridge Wells town centre is approximately two miles to the south west DOWDING WAY SUBJECT PROPERTY A25 of the subject unit. Access to Junction 5 of the M25 is 12 miles to the north via A21 MEREWORTH the A21. The A21 between Tonbridge and is currently being upgraded NORTH FARM ROAD to provide dual carriageway access which will further enhance access to the town. CHAPMAN WAY Further information available at http://www.highways.gov.uk/roads/road-projects/ a21-tonbridge-to-pembury-dualling/ A228

High Brooms station is approximately 0.3 miles from the subject unit. Trains run A26 directly to London Charing Cross and Cannon Street with a 50 minute journey time. A21

TONBRIDGE

Local industrial occupiers on the High Brooms Estate include SIG, Brewers and A2014 Noble Wines. To the north west of the estate is the main retail and car showroom cluster within Tunbridge Wells which is home to a number of key retail and A26 A21 A228 automotive tenants including Asda, M&S, Travis Perkins, John Lewis, Honda, Audi SOUTHBOROUGH and Lexus.

A264 ROYAL A264 TUNBRIDGE A264 A264 DESCRIPTION WELLS A21 A26

A21 The unit comprises a warehouse currently being used as a printing factory. The building is of steel portal frame construction with brick elevations.

The current tenant has been in occupation since 1988 at which point a full refurbishment was undertaken to include a new roof and the addition of a landlord mezzanine comprising part-offices, storage and studio space.

The offices are two-storey with a mixture of partitioned and open plan The site has an area of accommodation and benefit from comfort cooling and WCs. c.1.37 acres (0.55 hectares). Works The warehouse is on a self-contained site with access from the rear of the property. The site density is 46%. There are three loading doors to the south west elevation of the unit and another loading door on the western elevation. The eaves height is approximately 5m.

Parking on site is for approximately 40 cars. Plan for indicative purposes only

BROWN KNIGHT & TRUSCOTT LTD | NORTH FARM ROAD, ROYAL TUNBRIDGE WELLS, KENT, TN2 3BW

This is a print of the view of the title plan obtained from Land Registry showing the state of the title plan on 16 March 2016 at 18:09:33. This title plan shows the general position, not the exact line, of the boundaries. It may be subject to distortions in scale. Measurements scaled from this plan may not match measurements between the same points on the ground.

This title is dealt with by Land Registry, Nottingham Office. TENANCY

The unit is let to Brown Knight & Truscott Ltd on a Full Repairing and Insuring Lease The vendor has provided the following floor areas: from 26th August 2015 until 25th August 2025. There is a tenant only break clause on the 26th August 2020 subject to six months notice. There is therefore just over four years until the next break and nine years until lease expiry. FLOOR AREAS SQ M SQ FT

The passing rent is currently £156,000 per annum (£4.57psf). The tenant pays their Warehouse 2,431 26,162 rent on a monthly basis. Ground Floor Office 147 1,579

The next Rent Review is on 26th August 2020. First Floor Offices 167 1,797

First Floor Landlord Mezzanine 430 4,631

TENANT TOTAL 3,174 34,169

TOTAL (excluding Landlord Mezzanine) 2,744 29,538

Brown Knight & Truscott (Co. Number 02753137) is a long established specialist printing business that was incorporated in 1825 and moved to the subject facility in 1988.

Further information is available at www.bkt.co.uk.

Their most recent accounts made up to 31st August 2015 show a £6.47m turnover, £101,000 pre-tax profit and £1.39m shareholders funds.

EPC

The building has an EPC rating of D (78). The certificate is available on request.

BROWN KNIGHT & TRUSCOTT LTD | NORTH FARM ROAD, ROYAL TUNBRIDGE WELLS, KENT, TN2 3BW TOGC PURCHASE RATIONALE

The property is elected for VAT and it is anticipated that the sale will be a transfer • Tenant commitment – BKT have been in occupation since 1988. of a going concern.

• Reversionary potential - Royal Tunbridge Wells has limited void and no new commercial development. Were the unit to be available now our opinion of ERV PRICE is £5.50psf +.

We have been instructed to seek offers in excess of based on xxx – xxx NIY • – If the tenant did leave there is potential to redevelop purchasers’ costs of xxx%. Development potential the site for small business units and introduce a secondary access point along Chapman Way, subject to planning and the necessary approvals. A purchase at that level reflects a £xxpsf psf capital value.

Based on our conservative estimation of reversionary rent at £5.50psf the reversionary • Low capital value psf – Purchase price at the quote level will be below yield is x.xx% replacement value.

BROWN KNIGHT & TRUSCOTT LTD | NORTH FARM ROAD, ROYAL TUNBRIDGE WELLS, KENT, TN2 3BW CONTACT

For further information, please contact:

WILL DAVIES MRICS DAN GRANT MRICS

PARTNER PARTNER

M 07919 002 707 E [email protected] M 07956 573 297 E [email protected]

D 020 3198 4447 W www.stonehillpartners.co.uk D 020 3198 4446 W www.stonehillpartners.co.uk

A 56-60 St. John Street, London EC1M 4HG A 56-60 St. John Street, London EC1M 4HG

@stonehillptrs willdavies @dgstonehillptrs dangrant

Important notice: These particulars are not an offer or contract, nor part of one. The sole purpose of these particulars is to provide outline information on this property to prospective purchasers or tenants (as applicable), who are solely responsible for making their own investigations and seeking independent advice, including the costs of doing so, and forming their own view as to the condition of the property and any related fixtures, fittings, services, equipment, plant and machinery, its and their fitness for their requirements and the accuracy and completeness of the statements herein. These particulars do not constitute any recommendation or offer to enter into any contract regarding this property and neither Stonehill Partners Limited nor any of its employees, agents or representatives guarantees the accuracy or completeness of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein. You should not rely on statements by Stonehill Partners Limited in the particulars or orally or in writing (each being a “Statement”) as being factually accurate about the property, its condition or its value. Neither Stonehill Partners Limited nor any of its employees, agents or representatives have any authority to make any representations about the property, and accordingly any Statement given is entirely without responsibility or liability on the part of Stonehill Partners Limited, the seller(s) or lessor(s) or any of its or their employees, agents or representatives. Any photographs provided show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only and you must satisfy yourself as to their accuracy. Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. You must find out by way of your own inspection or in other ways that these matters have been properly dealt with and satisfy yourself as to the accuracy of all such information through your own investigations. To the extent that any third party information or Statement is included within these particulars, this information has been received and passed on by Stonehill Partners Limited in good faith but without liability or responsibility of any kind. VAT may be chargeable in addition to sums referred to herein and may be subject to alteration. July 2016.