Nuralite Industrial Estate 1

NURALITE INDUSTRIAL ESTATE 1

Nuralite Industrial Estate

CANAL ROAD, ROCHESTER, KENT ME3 7JA

SOUTH EAST MULTI-LET INDUSTRIAL INVESTMENT AND DEVELOPMENT OPPORTUNITY NURALITE INDUSTRIAL ESTATE 2

Investment Summary

* Photo taken prior to demolition

A rare opportunity to acquire an income producing The site provides light industrial units totalling Offers sought in excess of £12,000,000 (Twelve multi-let industrial estate with significant 96,341 sq ft (8,950 sq m) in addition to extensive Million Pounds), subject to contract and development potential. areas of open storage totalling 307,015 sq ft exclusive of VAT. This price reflects a net initial (7.05 acres). The property benefits from avaluable detailed yield of 5.53%, reversionary yield of 9.92% net planning consent for 260,000 sq ft of light The property is occupied by way of 71 licences of purchaser’s costs of 6.71% and £800,000 per industrial (subject to a Section 106 Agreement). allowing vacant possession to be obtained in the acre (net developable area). short term. Situated in the South East industrial location of Rochester. The net rental income is approximately £707,871 per annum. Excellent access to Central London, the M25 and the national motorway network. Freehold. Substantial site totalling approximately 44.81 acres (circa 15 acres of net developable). SCARBOROUGH

A170

THIRSK A170 A165

North Yorkshire Moors A168

RIPON

Yorkshire Dales MORECAMBE BRIDLINGTON

LANCASTER

STAMFORD DRIFFIELD HARROGATE BRIDGE

SKIPTON YORK

A614

A165

TADCASTER KEIGHLEY

BEVERLEY

BLACKPOOL LEEDS BRADFORD BURNLEY SELBY HULL PRESTON BLACKBURN

HALIFAX

DEWSBURY

WAKEFIELD

SOUTHPORT HUDDERSFIELD

ROCHDALE THORNE BURY SCUNTHORPE HATFIELD ORMSKIRK BARNSLEY WIGAN DONCASTER

LEIGH MANCHESTER

ST HELENS ROTHERHAM LIVERPOOL STOCKPORT BIRKENHEAD ALTRINCHAM SHEFFIELD

RUNCORN CHAPEL-LE-FRITH

WORKSOP

ELLESMERE PORT KNUTSFORD

A15 A 158 MACCLESFIELD

CHESTERFIELD M6 LINCOLN

BAKEWELL

CHESTER

LEEK CREWE ALFRETON A15 NEWARD-ON-TRENT

WREXHAM HUCKNALL NEWCASTLE-UNDER-LYME ASHBOURNE STOKE-ON-TRENT DENBY A60

A52

515 NOTTINGHAM A50 A M1 A51 A52 A52 DERBY A6011 A52 GRANTHAM A46 A5111 LONG EATON A52 A50 A 453 A 607

M6 A50 A51 A518

EAST MIDLANDS BURTON A606 UPON TRENT STANFORD A 453 A15

A513 A46 MELTON A 515 A 511 A518 LOUGHBOROUGH MOWBRAY A1

A34 A6 A 444 M1 A607 A460 A38 A51

A5 CANNOCK LANGHAM LICHFIELD

A 606 STAMFORD M54 M6 TOLL A34 TAMWORTH LEICESTER A15 NORWICH A47 A 461

A 444 A47 WOLVERHAMPTON WALSALL A 452SUTTON COLDFIELD M42 A5 M69 PETERBOROUGH A1 A 454 HINCKLEY

BROMWICH NUNEATON DUDLEY A43 A605 M6 A442 BIRMINGHAM A5 CORBY M1 A427 BIRMINGHAM M6 A5 STOURBRIDGE A605

A442 A 456 A45 A1 (M) A41 M42 M6 COVENTRY A 491 A435 KETTERING KIDDERMINSTER SOLIHULL A14 A 441 A46 RUGBY A45 A 508 A14 A14 M42 A 452 M40 HUNTINGDON M45 A43 A 456 REDDITCH A6 A45 A426 RUSHDEN ROYAL M5 A435 A425 DAVENTRY LEAMINGTON M1 SPA NORTHAMPTON ST NEOTS 14 A6 A428 A45 13 A428 A46 CAMBRIDGE WORCESTER A422

STRATFORD-UPON-AVON A428 BRADFIELD A4440 OAKLEY A423 A421 A1 M11 ST CLARE A429 A428 11 A46 BEDFORD GREAT TOWCESTER SANDY A4103 MALVERN M40 M1 KEMPSTON

NEWPORT EVESHAM A10 10 PAGNELL BIGGLESWADE A134 A5 A44 BANBURY A43 A505 14 9 MILTON ROYSTON IPSWICH M1 SUDBURY KEYNES SHEFFORD A1 13 A46 HENLOW SAFFRON M50 12 WALDEN 10 BUCKINGHAM A131

A5 A6 9 FELIXSTOWE HITCHIN HALSTEAD LEIGHTON A1(M) M11 BUZZARD A10 A5 HARWICH CHELTENHAM A44 BICESTER STEVENAGE A12 11 STANSTED A429 7 COLCHESTER A40 LUTON BISHOP’S 8a GREAT BRAINTREE GLOUCESTER STORTFORD A120 DUNMOW LUTON 8 A418 10 A436 WOODSTOCK A41 A34

AYLESBURY 9 WITHAM M5 A40 A417 A41 M1 4 A414 HARLOW M11 OXFORD A40 8 3

7 7 1 A414 CIRENCESTER A1(M) 21 CHELMSFORD 22 A413 6 WALTHAM 20 EPPING A34 A4010 M25 ABBEY 19 23 24 25 M40 AMERSHAM 26 27 5 A419 FARINGDON ABINGDON 18 BARNET ENFIELD CHEPSTOW

4 3 BRENTWOOD A433 A429 17 2 NEWPORT 4 M1 28 3 4 M4 1 DIDCOT M40 2 M48 MALMSBURY NURALITE INDUSTRIAL ESTATE 3 M4 1 BASILDON 22 ROMFORD 29 15 16 1 20 PROPOSED LOWER 16 16 A404 SWINDON A34 HENLEY-ON-THAMES THAMES CROSSING SOUTHEND-ON-SEA M49 17 M4 15 MAIDENHEAD LONDON 19 17 LONDON M25 CITY A13 Nuralite A13 M25 18a AIRPORT GATEWAY 1 18 8 7 9 6 15 M32 5 4 3 2 30 Industrial 14 GREENWICH THURROCK 19 2 Estate M5 CHIPPENHAM HEATHROW DARTFORD 14 13 READING LEWISHAM TILBURY A46 A2 1 DOCK 20 BRISTOL M4 SHEERNESS 12 13 10 GRAVESEND MARLBOROUGH BRACKNELL 2 A226 HUNGERFORD M4 1 A2 11 WOKINGHAM A20 BRISTOL A4 NEWBURY ASCOT A346 12 1 ROCHESTER BATH 3 MELKSHAM A34 11 2 MARGATE A38 CROWTHORNE CROYDON A249 21 DEVIZES 3 M2 PEWSEY A339 4 M20 A37 3 SITTINGBOURNE 5 TROWBRIDGE M3 10 M25 4 4 A33 M25 3 2a FARNBOROUGH 9 M26 6 7 A338 5 M2 7 A2 CANTERBURY BASINGSTOKE5 MAIDSTONE M3 7 A331 8 6 M25 6 ALDERSHOT FROME GUILDFORD 22 A31 WELLS WARMINSTER ANDOVER FARNHAM A28 8 M20 TONBRIDGE A303

23 A303 GATWICK M23 ASHFORD A36 GLASTONBURY A31 9 ROYAL 9 A3 A350 TUNBRIDGE EAST 10 A39 10 WELLS DOVER GRINSTEAD A37 A34 CRAWLEY A303 M3

M5 9 WILTON SALISBURY A31 HASLEMERE 11 FOLKESTONE WINCHESTER

11 Not to scale. A36 Indicative only. A303 SHAFTSBURY PETERSFIELD A254 Location 13 A272

EASTLEIGH A3 STALBRIDGE A350 M271 4 14 SOUTHAMPTON Rochester is an established commercial centre in The property benefits from excellent transport links Higham railway station offers direct journeys to London YEOVIL A338 2 3 5 1 7 north Kent and is one of the principal Medway towns, being situated just 3.8 miles from Junction 1 of the M2 Bridge within 50 minutes. London City Airport is located M27 SOUTHAMPTON motorway, which in turn provides access to Junction 29 miles to the west of the property and Stansted 2 which form the eastern end of the Thames Gateway, A303 8 a strategic Government Priority Regeneration Area. 2 of the M25 via A2, 12 miles to the west. To the south, airport London is 50 miles to the south west. CREWKERNE A31 3 CHARD 9 The Medway conurbation includes the nearby towns the network of motorways enables excellent access to HYTHE HAVANT4 10 11 ARUNDEL Tilbury Docks are located just 7 miles to the north west A27 A27 of Strood, Chatham and Gillingham. HighamBRIGHTON is located Canterbury, Dover and the South Coast. The A2 also 12 of the property and all other major south east ports of A350 3 miles to the northA27 of Rochester and is large parish provides direct access to South East London. A37 PORTSMOUTH Felixstowe, Dover, Southampton and Portsmouth are BEAMINSTER within Gravesham,WORTHING approximately 30 miles south east of A354 accessed within 120 miles. Central London and 45 miles north west of the cross- GOSPORT BOGNOR REGISchannel ports of Dover and Folkestone. A35 LYMINGTON COWES A35 A35 SELSEY LYME REGIS POOLE A35 BOURNEMOUTH NEWPORT

BEMBRIDGE

ISLE OF WIGHT

WEYMOUTH SWANAGE DARTFORD CROSSING NURALITE INDUSTRIAL ESTATE

GRAVESEND PROPOSED LOWER Situation THAMES CROSSING

Nuralite Industrial Estate is located on Canal Road, which follows the Thames and Medway Canal and leads to the estate entrance. Canal Road is accessed via the dual carriageway A289 approximately 2.8 miles to the south, providing quick access to Rochester and Dartford. The property is situated 3.2 miles east of Gravesend and 5.0 miles northwest of Rochester Town Centre. Nuralite Industrial Estate

HIGHAM ◄

CANAL ROAD M2 JUNCTION 1 9 MINS ◄

Driving distances/times:

Key Infrastructure Projects M2 (J1) 4 miles / 11 minutes

ROCHESTER 5 miles / 17 minutes

Communications are set to improve significantly with Medway Council have secured funding for the ‘Hoo PROPOSED LTC 6 miles / 19 minutes the construction of the Lower Thames Crossing (LTC). Peninsula Development’ for £170 million, which will The £6.8bn tunnel is scheduled to open in 2030 and enable 12,000 residential units, improved infrastructure M25 (J2) 13 miles / 21 minutes will run from east of Gravesend to Tilbury in Essex. and accessibility to London. This major project and the DARTFORD 15 miles / 29 minutes As shown by the map, this key national infrastructure LTC will improve the road and rail infrastructure for the project will provide the subject area with greater area surrounding industrial estate and will increase the CITY OF LONDON 31 miles / 70 minutes accessibility to West Thurrock, Tilbury and to M25 (N) population catchment benefiting the employment use WEST END 32 miles / 72 minutes without depending on the Dartford crossing. of the area. NURALITE INDUSTRIAL ESTATE 5

Description

A multi-let income producing industrial estate site benefitting from outline planning permission for a 260,000 sq ft light industrial development. The site is characterised in two distinct areas, the eastern portion accommodating the industrial estate and the western portion, which includes a decommissioned landfill.

The site is bounded to the north and north east by a stretch of the old Thames and Medway Canal. The entire southern boundary of the site is the mainline rail line (Gravesend to Rochester). The Eastern edge of the site provides the sole Unit 6A vehicle access to the site along Canal road.

The Industrial estate comprises of approximately 30 buildings of mixed age and construction accommodating 58 industrial units (96,341 sq ft), as well as extensive hardstanding open storage land (7.05 acres) and 18 ISO Container units. The buildings are generally single storey and predominantly of brick and metal clad construction. The landfill located in the western portion was active under a number of licences but has been disused since 1999.

Unit 17 and yard NURALITE INDUSTRIAL ESTATE 6

Tenure Site Tenancies

Freehold. The entire site totals approximately The industrial units and open storage land are Parking. All rent is inclusive of service charge and 44.81 acres. The net developable area currently occupied under licences to 56 tenants business rates. We have analysed the current net under the planning permission is 15 and licenced to 15 tenants of the ISO containers/ income to be £707,871 per annum after running acres (6.07 hectares). parking spaces. costs. The current total gross rental income received from All tenancies are on license agreements, which can the property is £1,064,863 per annum; derived as be terminated at short notice. £727,652 from the units, £307,841 from the open A full schedule of the existing income can be found storage land and £29,369 from the ISO Containers/ on the data site.

EASTERN SECTOR c.6.6 ha Industrial Estate area

WESTERN SECTOR c.8.5 ha Former Landﬁll area

Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller Approximate area to be temporarily acquired of H.M. Stationery Office. Crown Copyright reserved NURALITE INDUSTRIAL ESTATE 7

Occupational Market

In spite of arguably the most challenging trading Leasing activity has been particularly strong through This strong rental growth outlook, underpinned by conditions of the past decade, Covid-19 has brought 2021, culminating with the highest levels of take-up on continued occupational demand that is outstripping the importance of the industrial and logistics sector record being achieved. This continued depth of demand new-build supply has resulted in a significant increase into sharp focus. A varied range of industrial occupiers is outstripping new-build supply, and as a result of this in the number of investors and developers looking to have played a pivotal role during the crisis whether burgeoning supply/demand imbalance, rental growth secure assets within the industrial sector. it be meeting the needs of consumers, ensuring the continues to be evident across the South East. movement of essential goods, or adapting production lines to boost the availability of medical supplies.

We have listed a schedule of leasing transactions in the region for reference to rental values for existing buildings and the rental levels that could be achieved upon redevelopment:

Address Size Tenant Rent Terms Break Rent Free Transaction (Sq ft) (psf) (yrs) Option (months) date

Unit 1, M2 City Link, Rochester, ME2 4DW 30,000 Selco £10.66 15 - 15 PC Q2 2021

Unit 1, Trade City, Cold Harbour Road, Gravesend, DA11 8AF 4,737 ScrewFix £11.50 10 5 12 Jan-21

Unit B&C, ARC Aylesford, Snodland, ME6 5PJ 36,867 Must Have Ideas £10.50 15 10 9 Dec-20

Unit B1/2, Knights Business Park, Rochester, ME2 2LS 18,427 Ideal Direct £9.00 10 5 4 Nov-20

Unit 4, Aylesford Business Park, Aylesford, ME20 7US 7,171 Fire Table £11.50 10 5 6 Sep-20

Rob Roy Park Units 4 &5, Meridian Business Park, Rochester, ME2 4LE 6,189 £11.00 6 3 2 Aug-20 Homes

Unit 3, Aylesford Business Park, Aylesford, ME20 7US 6,465 Sub-Zero £11.50 10 5 6 Aug-20 NURALITE INDUSTRIAL ESTATE 8

Investment Market

South East industrial investment demand remains extremely strong despite the global Given the strong occupational market, security of income and sustained rental growth pandemic and economic headwinds. The industrial and logistics sector has continued within the sector, investor demand has remained strong and has been compounded by to outperform other sub-sectors of the commercial property market. The relatively a lack of available investment opportunities. high returns being achieved in the Industrial and Logistics sector are a function of a strong occupational market and a huge increase in capital seeking investment opportunities in the sector.

Outlined below are a number of relevant investment transactions:

Address Size Rent Unexpired Term Price CV Date (Sq ft) (£ psf) Years (break) (NIY) (Psf) £3,289,139 £64,000,000 Crendon Industrial Park, Long Crendon 411,584 4.6 (3.6) £155 Mar-21 (£7.99) (4.81%) £2,571,543 £59,000,000 Childerditch Industrial Park, Brentwood 173,386 (2.5) £340 Mar-21 (£14.83) (4.08%) £346,226 £12,250,000 River Wharf Business Park, Belvedere 47,820 - £256 Dec-20 (£7.24) (2.65%) £1,349,672 £29,000,000 Westgate 40, South Ruislip 130,362 6.0 £222 Mar-20 (£12.57) (4.04%) £1,088,374 £21,650,000 Sands10, High Wycombe 123,021 6.7 (6.1) £175 Mar-20 (£8.22) (4.71%) £857,720 £15,500,000 Oliver Close Ind Estate, Grays 102,429 - £151 Dec-19 (£8.37) (5.18%)

£1,967,213 £33,500,000 Larkfield Mill Ind Estate, Aylesford 277,088 (3.0) £121 Oct-19 (£7.10) (5.25%) WWW.synergyppc.co.uk Do not scale working dimensions from this drawing

Access Road Block A; 300m2 NURALITEBlock B; 1525m2 INDUSTRIAL ESTATE 9 Block C; 2117m2 Proposed re-aligned access road into Nuralite. Block D; 2260m2 Block E; 2260m2 Reception area with canteen, Def security and visitor parking. Block F; 2260m2 RH Drain 5 Bridge Block G; 2202m2 Drain House Drain Def CR Block H; 2329m2 Stone Post Drain Block I; 2260m2 4.9m Shorne Marshes Drain Block J; 2260m2 C Tk Block K; 2160m2 Drain

Block L; 2200m2 ETL Parking Access Road Path Hard standing Hard Hard standing A Parking Drain standing Hard Disused Thames & Medway Canal to be de-silted standing re-planted along the back. B Parking Hard standing Hard MP 27.75 standing Hard standing Hard Hard Drain standing (disused) standing Access Road C Access Road Hard standing Thames and Medway Canal Hard Hard Hard standing standing standing L Parking Hard Parking Hard standing 4.0m standing Hard Hard Hard Hard standing standing standing D standing Hard standing Access Road Well m2 Hard Hard Hard standing Hard standing K Hard standing standing standing Hard Hard standing Access Road Stone Drain standing Hard E Hard Hard standing Hard standing Hard standing 3.7m Hard standing standing standing 50x15m grass park Parking J Hard Hard Hard SP area, for use of the Hard Access Road standing Hard Access Roadstanding Hard standing Hard standing standing standing general public Access Road standing F Hard standing Hard Hard Area of canal to be filled with imported standing Hard I standing Mineral Railway Hard standing Hard soil, a retaining wall built along road side. Hard standing standing standing Hard Bank to be landscaped, with small trees Thames and (disused)Medway Canal standing Access Road Hard standing and shrubs. Retaining wall to be built from Path Hard Hard reclaimed yellow stock bricks from the standing standing Hard standing Hard H standing existing buildings on the site.

Hard Hard Access Road standing Parking standing Hard Parking Access Road standing Def Hard standing Hard G Hard MP 27.5 standing standing Proposed Nature Hard standing Conservation area Area of pond to Hard Hard be retained standing standing Uralite Halt

Turning area for WB SL Drain large vehicles L Twrs Hoo Pond MP 27.25 L Twr Junction SL Total proposed floor area 24133m2 Path

Railway Crossing Copyright

L Twr L Twr SL Synergy Planning & Property Consultants Ltd Suite 6 Laser Quay MP 27.5 Medway City Estate Rochester

4 Kent ME2 4HU SL L Twr Path Redevelopment & Planning Client

FB Nuralite

Address

The propertySite benefitsLayout from Plan detailed planning permission The proposed development comprises the demolition of Remediation of the landfill principally includesNuralite Industrial Centre the Canal Road ME3 7JA (REF:20190290)Scale 1:1250 subject to a the Section 106 Agreement, the existing industrial estate, remediation of the landfill importation of capping material to provide a separation 0 5 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 180 190 200 which includes developing 11 light industrial units and constructing the industrial units. layer. In order to limit the cost of cappingDrawing title the site, totalling approximately 24,133 sq m (c.260,000 sq ft) LEJ properties has applied for a permit to receive The current owner has already removed the largest two Site over plan with associated surface car parking and yard areas. inert construction materials (c. 485,000 tonnes), with buildings at the entrance to create further open storage Nuralite Industrial Estate represents a rare southeast the owner benefiting from income payments for the Scale units in the short term. 1:1250 Date Drawn by development opportunity comprising a 15 acre site. materials. The site also has HMRC consentApril 2018to Land

Drawing No The property is also income producing and can also Remediation Relief, to allow the owner to18/171/02 claim relief of be developed in phases, affording the developer an 150% of the cost of remediating the site against their opportunity to protect returns with the existing income. Corporation Tax bill. NURALITE INDUSTRIAL ESTATE 10

PROPOSED OPEN STORAGE AREA

Demolished asbestos facility NURALITE INDUSTRIAL ESTATE 11

Further Information Proposal

Datasite Offers sought in excess of£12,000,000 (Twelve Million Pounds), Access to the data site containing relevant documentation subject to contract and exclusive of VAT. This price reflects a net initial including environmental reports, remediation strategy reports yield of 5.53%, reversionary yield of 9.92% net of purchaser’s costs of and planning documentation is available on request. 6.71% and £800,000 per acre (net developable area).

VAT

The property is elected for VAT. It is intended that the transaction will be treated as a TOGC. Contact

Anti Money Laundering

The Purchaser will be required to provide information necessary to comply with Anti-Money Laundering legislation.

Drone Video Tour Will Robertson Sam Coughtrie E: [email protected] E: [email protected] A video tour of the property can be found here: T: 020 7318 5048 T: 020 7318 5173 M: 07970 822 274 M: 07717 630 486 DRONE VIDEO Ben Wiley James Coggle E: [email protected] E: [email protected] T: 020 7318 5054 T: 020 7338 4109 M: 07771 662 009 M: 07469 403 283

Misrepresentation Act 1967: BNP Paribas Real Estate Advisory & Property Management UK Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither BNP Paribas Real Estate Advisory & Property Management UK Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Finance Act 2013: Unless otherwise stated all prices and rents are quote exclusive of VAT. The Business Protection from Misleading Marketing Regulations 2008: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. June 2021 www.cube-design.co.uk (Q4719)