Travis Perkins Unit 5, Pasadena Trading Estate, Edinburgh Way, Harlow, Cm20 2Sl

TRAVIS PERKINS UNIT 5, PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW, CM20 2SL

INVESTMENT OPPORTUNITY TRAVIS PERKINS, UNIT 5 PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW CM20 2SL

INVESTMENT SUMMARY

• Good quality, self-contained builder’s merchants of 8,876 sq ft • Entirely let to Travis Perkins (Properties) Limited for a further with a secure yard and parking. 8.5 years. • Excellent location 30 miles north east of central London with • Strong covenant with a Dun & Bradstreet credit rating of 5A1. good access to Junction 7 of the M11 motorway and • Current rent passing of £60,000 per annum which equates to subsequently Junction 27 of the M25. £6.76 per sq ft. Established trade counter/industrial location 2 miles north east • Seeking offers in excess of £875,000 (Eight Hundred and Seventy of Harlow town centre, with nearby occupiers including Five Thousand Pounds) reflecting a net initial yield of 6.49%, allowing Screwfix, Formula One Autocentres, HSS Hire, Safestore and for purchasers costs of 5.60%. Euro Car Parts. This price reflects a low capital value of only £99 per sq ft. • Freehold. TRAVIS PERKINS, UNIT 5 PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW CM20 2SL TRAVIS PERKINS, UNIT 5 PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW CM20 2SL

LOCATION SITUATION

Harlow is situated 30 miles north east of central London. The town is strategically positioned The property is situated on North Place, accessed via Edinburgh Way (A414), approximately close to Junction 7 of the M11 motorway which provides direct access to Junction 27 of the 0.7 miles from Harlow Mill Railway Station, within Harlow’s prime commercial area. Edinburgh M25 motorway just 5 miles to the south. Cambridge is 34 miles to the north and London Way is the main out-of-town retail, trade counter and motor trade location in the town. Stansted International Airport 9 miles to the north east. Major occupiers within the immediate vicinity include Tesco, Allied Carpets, Enterprise Rent- Harlow also benefits from excellent rail links which provide regular, direct access from Harlow A-Car, HSS Hire, Safestore, Screwfix, SEAT, Skoda and Volkswagen. The property is in close Town Station to London Liverpool Street in 31 minutes, Cambridge in 50 minutes and London proximity to Harlow’s two main retail parks, the Queensgate Centre and Harlow Retail Park. Stansted International Airport in 20 minutes.

A1(M)

A10 HARLOW RD

BRAINTREE A418 LUTON BISHOP’S AIRPORT STORTFORD STANSTED AIRPORT M11 M1 A414 M11 HARLOW MILL

ST ALBANS CHELMSFORD A12 HARLOW PL NORTH J21AJ21A HARLOW J23 M25 A414 TOWN HIGH M25 J27 WYCOMBE A414 EDINBURGH WAY A406 J28 M40 BASILDON A12 J16 FIRST AVE HARLOW TOWN LONDON M25 CENTRE A414

J15 A4 READING FOURTH AVE HEATHROW J2 A1025 M4 A2 A23 M11 J12 M25M25 CROYDON

J10 J3 M2 A3 BASINGSTOKE M25 M20 A414 M3 J7 A1169 GUILDFORD M23 JUNCTION 7

CRAWLEY TRAVIS PERKINS, UNIT 5 PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW CM20 2SL

DESCRIPTION

The property comprises a modern, self-contained builder’s merchants. It is of steel portal frame construction with concrete floors and part profile steel cladding and brickwork elevations below a pitched single bay roof. It benefits from the following specification:-

• 2 level loading doors, one of which is an electrically operated roller shutter door. • Eaves height of 5.5m. • Internal trade counter and customer service area. • Well specified internal office accommodation with wall mounted central heating and recessed fluorescent lighting on the first floor. • Secure yard and customer parking. ACCOMMODATION

The property has been measured in accordance with RICS Code of Measuring Practice (6th Edition) and provides the following floor areas:

Description Sq Ft Sq M Warehouse 7,328 680.80 Tanks Tank SL ain Dr 24 Office / Trade Counter 1,548* 143.80 MP

Total 8,876 824.60 Drain

* Of the stated area, 715 sq ft is situated on the first floor. NORTH PLAC

1 3

TENURE SL 4 2

5 Freehold.

Gas Holder TENANCY El Sub Sta 5

Shelters

Gas Distribution Sta

The property is let to Travis Perkins (Properties) Ltd for a term of 20 years from 15 April 2005 9

Sub Sta (8.5 years unexpired). 1 • The passing rent is £60,000 per annum, reflecting £6.76 per sq ft. Shelter Ascent Park El The lease is subject to 5 yearly upward only rent reviews to the higher of open market Sub Sta • ta S ub El S value or the passing rent. The 2015 rent review was settled with an uplift of 13% on the 8 previous passing rent. Unit 2 44.8m

• The property is let on Full Repairing and Insuring terms. El Sub Sta 4 45.1m

TEMPLE FIELDS Shelter Y 0m 25m 50m 75m WA GH UR 45.7m INB ED Shelters

PLANNING

The property has consent for a builders, timber and plumbers merchants with ancillary retail sales and office accommodation within Class B1, B2 or B8 consent under the Town and Country Planning (Use Classes) Order 1987.

COVENANT

Travis Perkins (Properties) Ltd is a wholly owned subsidiary of Travis Perkins PLC, a FTSE 100 listed company who have been established for over 200 years. The group comprises 20 businesses which trade from over 2,000 sites throughout the UK, with 656 branches trading under the Travis Perkins banner.

They are one of the largest suppliers to the UK’s building and construction industry, providing a wide range of products to trade professionals, including building materials, plumbing and heating materials, landscaping materials, timber and sheet materials, painting and decorating, dry lining and insulation, doors, joinery and hand and power tools.

Travis Perkins (Properties) Ltd has a Dun & Bradstreet rating of 5A1, which reflects a minimum risk of business failure. The most recent trading information for Travis Perkins (Properties) Ltd is as follows:

31 Dec 2015 31 Dec 2014 31 Dec 2013 (£000’s) (£000’s) (£000’s) Sales Turnover 71,347 76,449 76,384 Profit / (Loss) 32,318 47,386 41,752 Before Taxes Tangible Net 463,472 329,582 295,024 Worth TRAVIS PERKINS, UNIT 5 PASADENA TRADING ESTATE, EDINBURGH WAY, HARLOW CM20 2SL

VAT

The property is elected for VAT and it is the intention to treat this transaction as a Transfer of a Going Concern (TOGC).

EPC

The property has an EPC rating of C. A copy of the certificate is available upon request.

PROPOSAL

We are instructed to seek offers in excess of £875,000 (Eight Hundred and Seventy Five Thousand Pounds) which reflects a net initial yield of 6.49%, allowing for purchasers costs at 5.60%. This price reflects a capital value of only £99 per sq ft.

CONTACT INFORMATION

Matt Moran DDI: 020 7312 7540 M: 07826 552591 Email: [email protected] 3137 3079 • plplondon.com T:020 Tom Paton-Smith DDI: 020 7312 7440 M: 07818012440 Email: [email protected]

Simon Beeton DDI: 01279 620225 M: 07976 523373

Email: [email protected] PLP London Design and produced by

Misrepresentation Act 1967 Montagu Evans LLP and Derrick Wade Waters for themselves and for the vendors or lessors of this property whose agents they are, give notice that : (i) The particulars are set out as a general guideline only for the guidance of intending purchasers or lessees and do not constitute the whole or any part of an offer or contract.(ii) All descriptions, dimensions, references to condition and necessary permissions of the use and occupation, and other details are given in good faith without responsibility whatsoever 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) Neither Montagu Evans LLP or Derrick Wade Waters or their respective employees has any authority to make or give any representation or warranties whatsoever in relation to the property. (iv) Unless otherwise stated, all prices and rents are quoted exclusive of VAT and intending purchasers or lessees must satisfy themselves independently as to the applicable VAT position. (v) All the plans and maps provided within the particulars are for identification purposes only. November 2016.