UNIT 6 WESTERLEIGH YATE | BRISTOL BUSINESS PARK BS37 5YS
INVESTMENT FOR SALE UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
YATE • Located in Bristol the 5th largest conurbation in the UK and the TRAIN STATION capital of the South West. • Yate is a well-established distribution location positioned approximately 12 miles north east of Bristol city centre. SOUTH • Westerleigh Business Park is situated on the southern side of the GLOUCESTERSHIRE COUNCIL A432, with nearby occupiers including RTH Plc, TNT, Smurfit Kappa, Fedex and Royal Mail. A432 YATE • The property comprises a detached warehouse building totalling TOWN CENTRE 16,267 sq ft on a self-contained 1.01 acre site. • The property is configured as a manufacturing and storage facility with offices and staff welfare areasand external service yard including staff and visitor car parking. A432 • The property was constructed in the late 1990’s comprising steel portal frame construction with profiled metal sheet cladding and roof. • Let to Scott Aerospace Limited on FRI terms for 10 years from 01 December 2015, expiring 30 November 2025. • Rent passing of £115,000 per annum reflecting£7.07 per sq ft. • Offers are sought in excess of £1,900,000 (One Million Nine Hundred Thousand Pounds), subject to contract and exclusive of VAT. • A purchase at this level would reflect a net initial yield of 5.7% UNIT 6 WESTERLEIGH assuming purchaser’s costs of 6.25% and a capital value of BUSINESS PARK £116.80 per sq ft.
A WELL ESTABLISHED DISTRIBUTION LOCATION POSITIONED APPROX. 12 MILES NORTH EAST OF BRISTOL CITY CENTRE UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
M4 21 UNIT 6 WESTERLEIGH BUSINESS PARK Bristol is the major regional Bristol has a diverse range of public and 16 BS37 5YS centre of the southwest with private employers including healthcare, 20 YATE government, engineering, defence, M49 an estimated population of finance, professional services and A432 550,000 and approximately aerospace operators. 17 A38 M4 1.6 million residents within the The city has the largest employment in the M5 insurance, banking and financial services A46 wider urban area. 19 outside London. There are two leading 18 BURTONBristol is the 5th largest conurbation in the universities, the University of Bristol and 18 UK and capital of the south west, situated the University of the West of England, M4 approximately 120 miles west of London, 88 providing Bristol with a skilled labour pool. M32 miles south of Birmingham and 78 miles north Yate is a town situated in South M5 of Exeter. Excellent road communications A432 Gloucestershire, approximately 12 miles are provided by the M5, M4 motorway north east of Bristol city centre. Road A46 interchange situated 4 miles northwest of connections are provided by the A432 A38 the city centre. The M32 motorway provides which passes through the town, linking with a fast link from the city centre to Junction 19 A420 the A4174 Bristol By-Pass to the south west of the M4, 5.5 miles to the east. The M48 and A369 which in turn links with the M4 at Junction A420 M49 motorways give access to South Wales 19. Yate, as part of the Greater Bristol market, BRISTOL via both Severn crossings. A4174 has established a strong reputation in the Intercity rail services serve both Bristol distribution and industrial market due to its Parkway and Bristol Temple Meads stations, strategic location. Major employers in the A370 providing regular intercity services to town include Tata Steel, General Domestic A4 A46 major destinations throughout the UK Appliances, South Gloucestershire Council including; London Paddington, Manchester, and Jelf Group. Large distribution occupiers A38 SALTFORD Birmingham, Cardiff and the south west. include TNT, Smurfit Kappa and David A4 The fastest journey time to Bristol Parkway Hathaway Logistics. via the mainline rail service is 85 minutes.
A37 A36 BATH
BRISTOL IS THE 5TH LARGEST CONURBATION IN THE UK AND CAPITAL OF THE SOUTH WEST UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
WOODWARD AVENUE
NIBLEY LANE
The subject property is Nearby occupiers include RTH Plc, TNT, Smurfit Kappa, Fedex and Royal Mail. The situated on the Westerleigh estate roads to this area are well managed Business Park on the and of a good width for distribution use. southern side of the A432, To the northern side of the A432 are within an area popular Stover Trading Estate and Beeches with manufacturing and Industrial Estate which are the main trade counter locations in the town. distribution uses.
WITHIN AN AREA POPULAR WITH MANUFACTURING AND DISTRIBUTION USES UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
The property comprises a detached light industrial / distribution building situated within a secure site providing a car park and gated yard to the front, side and rear. The building provides mainly warehouse accommodation together with staff welfare and first floor offices to the front, and a small mezzanine store and further mezzanine office to the rear. Pedestrian access is via an entrance lobby to the front, whereas loading access is via three up and over sectional folding and electric loading doors opening onto the yard. The main industrial building is of late 1990s / early 2000s construction, with a steel portal frame construction and a shallow-pitched trussed roof. The roof is clad in profiled metal sheeting with 10% translucent panels. The warehouse provides a minimum height of 5.53m to underside of truss. To the rear of the warehouse is a mezzanine level which is split in two parts providing storage and racking as well as offices and kitchen. Externally, the yard is accessed via the side of the building. Within the rear yard, the tenant constructed a temporary building in 2016 for goods in/out which is subject to full reinstatement liability.
DETACHED LIGHT INDUSTRIAL / DISTRIBUTION BUILDING SITUATED WITHIN A SECURE SITE INCLUDING PARKING & YARD UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
The property provides the following approximate Gross Internal Area:
Floor Areas (GIA) sq m sq ft
Main Warehouse 1,185.33 12,759 First Floor Offices 151.09 1,626 Total Excluding Mezzanine 1,336.42 14,385 Mezzanine Office / Staff 93.30 1,004 Mezzanine Storage 81.59 878 Total Including Mezzanine 1,511.31 16,267 Tenant’s building – goods in / out 302.17 3,253 Total Including tenant’s building 1,813.48 19,520
The total site area is approximately 1.01 acres. The external footprint of the main building is approximately 0.31 acres meaning the building site cover is approximately 31%.
ON A TOTAL SITE AREA OF APPROXIMATELY 1.01 ACRES UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
TENURE Scott Aerospace Limited is a wholly owned subsidiary of Anstee & Ware Group Limited who have reported the following recent Freehold. financial results: TENANCY Year ending Turnover Pre-tax Profit Net Worth The property is single-let to Scott Aerospace Limited for a term of 10 years from 01 December 2015, expiring on 30 November 31/12/2019 £6,325,069 (£576,344) £7,156,574 2025 on FRI terms at a current rent of £115,000 per annum 31/12/2018 £8,900,591 £3,290,408 £7,840,432 reflecting £7.07 per sq ft (including mezzanine but excluding tenant’s building). 31/12/2017 £9,006,035 £397,039 £5,047,583 COVENANT INFORMATION Scott Aerospace Limited is a global supplier of engineering solutions for ultra-demanding, safety critical applications with specialist in-house manufacturing services for a variety of industries including aerospace, utilities, defence and construction. Significant clients include Rolls Royce, The Ministry of Defence and Wessex Water. The company has a Creditsafe Rating of 79 A representing “Very Low Risk” which is borne out by their excellent payment history. The company has 48 employees and has reported the following recent financial results:
Year ending Turnover Pre-tax Profit Net Worth
31/12/2019 £3,351,000 (£614,000) £2,148,542 31/12/2018 £6,015,000 £247,000 £2,691,972 31/12/2017 £6,344,000 £123,000 £2,509,659
SINGLE-LET TO SCOTT AEROSPACE LIMITED FOR A TERM OF 10 YEARS EXPIRING ON 30 NOVEMBER 2025 UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
OCCUPATIONAL MARKET The industrial market in Yate is well established. Good road links to Bristol and the M4 motorway at Junction 19 has made the town a popular location for industrial distribution. Like Bristol, the town has seen material rental growth in recent years with overall strong demand and a high occupancy rate, as evidenced in the following transactions:
Occupier / Address Size (sq ft) Rent (per sq ft) Transaction Type Date Terms / Comments
Alpha Communications 6,696 £9.00 OML Nov-20 10 years subject to 5 year break and 3 months Unit 10 rent free. End of terrace unit immediately Westerleigh Business Park north of the subject property. Toolstation 5,583 £8.50 OML Sep-20 10 year lease subject to Unit B2 10 months rent free. Stover Trading Estate Refurbished semi-detached unit. H&J Commercials 6,939 £7.95 OML May-20 10 years subject to 5 year break Unit 31 and 3 months rent free. Beeches Industrial Estate Refurbished end of terrace unit. Giacomini UK 13,800 £8.00 LR Jun-18 10 years subject to 5 year break Unit 2 and 3 months rent free. Goodrich Close Modern semi-detached unit. Selecta UK 13,800 £8.00 LR Mar-18 10 years subject to 5 year break. Unit 3 Modern semi-detached unit. Goodrich Close Royal Mail 17,500 £7.88 RR Nov-17 Modern standalone unit. Unit 1 Goodrich Close
MATERIAL RENTAL GROWTH WITH STRONG DEMAND AND HIGH OCCUPANCY UNIT 6 WESTERLEIGH BUSINESS PARK
INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION GALLERY TENURE OCCUPATIONAL MARKET CONTACT
EPC FURTHER INFORMATION The property has an EPC rating of C72. For further information or to arrange an appointment to inspect, please contact the sole agents: AML Oliver Stretton 07990 891024 A successful bidder will be required to provide relevant information to [email protected] satisfy the AML requirements when Heads of Terms are agreed. Lucy Costain 07990 891019 VAT [email protected] The property is elected for VAT however it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
PROPOSAL Offers are sought in excess of £1,900,000 (One Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 5.7% assuming purchaser’s costs of 6.25% and a capital value of £116.80 per sq ft.
MISREPRESENTATION Misrepresentation Act 1967: Alder King LLP 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 Alder King LLP 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 1989: Unless otherwise stated all prices and rents are quote exclusive of VAT. Property Misdescriptions Act 1991: These details are believed to be correct at the time of compilation but may be subject to subsequent amendment. Design by Moose Studios. April 2021.