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Prime West Midlands Industrial Investment 2 starley way, birmingham b37 7hb PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT 2. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT 100% Prime West Midlands Industrial Investment 3. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT INVESTMENT SUMMARY 100% Prime West Midlands Industrial Investment Strategically located 2 miles North West of Junction 6 of the M42 Motorway and 2.1 miles South West of Junction 4 of the M6 motorway Situated adjacent to Birmingham International Airport, Birmingham International Railway Station and within close proximity to JLR’s Solihull plant. Surrounding occupiers include DHL, Palletline and XPO Logistics Freehold site extending to 5.04 acres (2.04 hectares) Gross Internal Floor Area extending to 125,404 sq ft (11,650 sq m) Let in its entirety to Schumacher Packaging Limited, a leading European manufacturer and innovator of cardboard packaging. The lease benefits from a guarantee from German based parent company Schumacher Packaging GmbH, a 5A1 covenant The tenant has made substantial investment in plant and machinery at the building over the past 12 months FRI lease with a contractual term expiring 4 November 2026, providing an unexpired term of approximately 5.5 years, at a passing rent of £673,000 p.a. which reflects a low rent of £5.37 per sq ft The rent is subject to an upward only RPI-linked rent review on 5th November 2024 with a collar and cap of 2.0% & 4.0%, compounded annually PROPOSAL Savills is instructed to seek offers in excess of £12,000,000 (Twelve Million Pounds) for the freehold interest, subject to contract and exclusive of VAT. A purchase at this level would reflect a low capital value of £96 per sq ft, a Net Initial Yield of 5.26%, and a guaranteed minimum Reversionary Yield of 5.80% following review in November 2024, allowing for standard purchaser’s costs of 6.71%. 4. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT Adjacent to Birmingham Airport with surrounding occupiers including DHL and Palletline Aberdeen Dundee M90 EDINBURGH GLASGOW AIRPORT 5. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT M8 GLASGOW AIRPORT Edinburgh M77 LOCATION & CONNECTIVITY M74 NEWCASTLE AIRPORT The property is located in the borough of Solihull in the West Midlands, a thriving business destination in the NEWCASTLE UPON TYNE centre of the UK just 8 miles east of Birmingham, 93 miles south of Manchester and 96 miles north west of London. A1(M) Solihull has a large and established prime industrial market which spans from Hams Hall at Junction 9 of the M42 to the north of the town and to Blythe Valley Park at Junction 4 of the M42 to the south. Solihull is ideally M6 positioned to serve a wide range of distribution and manufacturing occupiers. The property itself sits in an area identified as ‘UK Central Hub’ which is at the heart of the Solihull industrial market. Located at Junction 6 of the M42, it is the most high profile development growth project in Europe. A1(M) UK Central Hub is nationally and internationally connected via Birmingham International Airport and Birmingham International Railway Station. This will be further enhanced with the arrival of Birmingham HS2 LEEDS M55 Preston Hull Interchange Station later this decade. M62 M62 The location’s unparalleled access to the UK’s road network means that 75% of the population can be reached M60 M1 s within a 3 hour drive of the property making this a prime industrial and distribution location. M62 MANCHESTER iu d LIVERPOOL a r MANCHESTER AIRPORT e v i Stoke-on-Trent r d Motorway Miles Time City Miles Time Nottingham r M6 M1 M42 (J6) 2 5 mins Birmingham 8 18 mins u o EAST MIDLANDS Coventry 11 16 mins h M6 (J4) 2 4 mins AIRPORT 3 M54 Norwich M6 Toll 8 10 mins Leicester 31 30 mins Leicester Wolverhampton M42 Nottingham 46 47 mins M40 (J3A) 11 13 mins M6 A1(M) BIRMINGHAM BIRMINGHAM A14 M5 (J4A) 22 23 mins Manchester 93 1 hr 43 mins AIRPORT M42 Cambridge M1 (J19) 26 26 mins Bristol 95 1 hr 31 mins COVENTRY AIRPORT M5 A14 London (M25) 96 1 hr 27 mins M40 M1 M50 Milton M11 Keynes Ipswich Gloucester LUTON A1(M) AIRPORT Rail Freight Terminal Miles Time Cargo Airport Miles Time Swansea Swindon M25 Hams Hall Rail Freight Terminal 7 14 mins Birmingham 1 3 mins Birmingham Lawley Street 8 22 mins East Midlands International 35 37 mins M4 M4 LONDON CARDIFF HEATHROW Birmingham Intermodal Freight Terminal 14 25 mins BRISTOL AIRPORT Daventry International Rail Freight Terminal 29 34 mins M25 M26 M3 M23 GATWICK M5 AIRPORT SOUTHAMPTON Exeter Plymouth 6. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT A 4 5 0 M6 d M6 oa R th ea H ill Starley Way is sh le o an established C SITUATION e u n e commercial locationv A d n which is homere to other The property is situated on Starley Way to the north of Birmingham Airport and is accessed via the Bickenhill o o high profileM tenants Way dual carriageway which leads to both Junction 6 of the M42 Motorway (2 miles south east) via the including DHL and Coventry Road and Junction 4 of the M6 Motorway (2.1 miles north east) via the A446. A A 4 Starley Way is an established commercial location which is home to other high profile tenants including DHL, Palletline 4 M42 4 5 6 0 Palletline and Porcelanosa. There are a wide range of other industrial occupiers situated in the immediate area d including at Elmdon Trading Estate and Prologis Park Birmingham Interchange. a o R h t The presence of the automotive sector continues to fuel economic activity in the region, including Jaguar a e H Land Rover’s £1bn investment to convert both the Castle Bromwich and Solihull factories into specialist EV l l i h s production centres. Other investment includes the construction of the new logistics operations centres and its Marston e l Green o new logistics hub under construction in Solihull. C Bi cke nh The property’s situation is ideally suited to the tenant, whose employees and clients utilise the air and rail ill Roa d travel connections which are situated within 1 mile to the south of the property. e ill Lan enh ick B Starle y Way National Exhibition Centre e n M42 a L l l i Birmingham h n e Airport k c i B Birmingham International Resorts World 7. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT LEA HALL RAILWAY STATION M42 M6 MOTORWAY MARSTON GREEN RAILWAY STATION BIKENHILL LANE The property is NEC situated on Starley BIRMINGHAM AIRPORT Way to the north of M42 Birmingham Airport and is accessed via the A446 BIRMINGHAM INTERNATIONAL Bickenhill Way dual RAILWAY STATION carriageway SITE OF HS2 BIRMINGHAM INTERCHANGE STATION SITE OF JLR’S LOGISTICS OPERATIONS CENTRE 8. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT DESCRIPTION The property comprises a high quality industrial warehouse which was purpose built for the tenant in the early 2000’s and further extended approximately 8 years ago. The total site area is 5.04 acres (2.04 hectares) and the site coverage is 57%. Extending to a Gross Internal Area of 125,404 sq ft (11,650 sq m), the property incorporates production, assembly, loading and storage space together with offices and ancillary staff accommodation. The majority of the building benefits from an eaves height of 5.5m plus, measured to the underside of the haunch, with some production areas of the building having lower clear working height. The property is subject to the following specification: Steel-framed construction; Solid concrete floors; Profile clad elevations under metal-sheet Secure gated yard; roofs; Dual access 6 roller shutter doors; Mix of sodium box and suspended strip lighting; The property incorporates production, assembly, loading and storage space together with offices and ancillary staff accommodation. 9. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT ACCOMMODATION The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition). The Gross Internal Areas are as follows: Unit Name Sq Ft Sq M Warehouse 117,692 10,933 Covered and enclosed loading / storage area 4,108 382 Office 3,604 335 Total 125,404 11,650 The building benefits from 49 parking spaces and the site extends to approximately 5.04 acres (2.04 hectares). TENURE The property is held freehold, under title number WM691314. TENANCY The property is let in its entirety to Schumacher Packaging Limited for a term of 7 years from 5th November 2019 to and including 4th November 2026, providing a lease term of approximately 5.5 years to expiry. The lease is guaranteed by the tenant’s German parent company, Schumacher Packaging GmbH. The lease is drawn on full repairing and insuring terms at a passing rent of £673,000 per annum, equating to £5.37 per sq ft. The lease has an upward only RPI linked rent review on 5th November 2024, subject to a collar and cap of 2% and 4%, compounded annually. This will provide a minimum increase to £743,046 p.a. (£5.93 per sq ft) at review based off the collar of 2% compounded. The lease is excluded from security of tenure provisions of the 1954 Act but the tenant has an option to renew the lease for a further 7 years upon the same terms granted under this tenancy. The tenant can exercise this extension at any point up until 6 months prior to the lease expiry i.e. 4th May 2026. 10. SCHUMACHER PACKAGING PRIME WEST MIDLANDS INDUSTRIAL INVESTMENT COVENANT INFORMATION TENANT PROFILE GUARANTOR PROFILE D&B Rating: 3A2 D&B Rating: 5A1 Schumacher Packaging Limited is a leading cardboard packaging manufacturer and innovator of packaging The lease is subject to a full parent company guarantee from Schumacher Packaging GmbH.
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