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Durham Industrial Portfolio

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Durham Industrial Portfolio DURHAM INDUSTRIAL PORTFOLIO MULTI-LET INDUSTRIAL PORTFOLIO 8 MULTI-LET INDUSTRIAL ESTATES LOCATED IN COUNTY DURHAM MULTI-LET INDUSTRIAL PORTFOLIO | 8 MULTI-LET INDUSTRIAL ESTATES LOCATED IN COUNTY DURHAM INTRODUCTION PORTFOLIO SUMMARY PORTFOLIO SUMMARY SOUTH HETTON MURTON INDUSTRIAL ESTATE 8 Multi-let industrial estates located in County South Hetton EASINGTON UNITS 3 & 4, KILBURN LANE ind est Durham DRIVE SOUTH J62 HETTON HIGH HORDEN SEAVIEW 62 units totalling 107,725 sq ft PITTINGTON EASINGTON A182 COLLIERY WORKSHOPS HASWELL EASINGTON Range of units sizes from 525 sq ft to 15,000 sq ft A1(M) Horden PHOENIX WORKSHOPS Units 3 & 4 Seaview DURHAM SHERBURN Kilburn Drive Workshops VILLAGE Shotton SHOTTON COLLIERY Net rent after deduction of non-recoverable expenditure SHERBURN HILL Colliery NORTH EAST ind est NORTH WEST INDUSTRIAL Phoenix INDUSTRIAL ESTATE INDUSTRIAL ESTATE Workshops £268,000pa LUDWORTH ESTATE SHADFORTH HORDEN SHINCLIFFE SHOTTON SOUTH WEST PETERLEE THORNLEY STATION COLLIERY INDUSTRIAL INDUSTRIAL ESTATE Potential net reversionary rent of £318,211pa ESTATE WHEATLEY HILL A19 WHEATLEY HILL A181 Thornley BLACKHALL INDUSTRIAL ESTATE We are instructed to seek offers of £2,700,000 (Two Million Seven Wheatley Station COLLIERY Hill InD Est InD Est Hundred Thousand Pounds), which reflects an initial yield of 10.15% CASTLE EDEN BOWBURN HESLEDEN WINGATE GRANGE and a net initial yield of 9.38% after deduction of service charge and empty WINGATE INDUSTRIAL ESTATE QUARRINGTON rates shortfall and purchaser’s costs at 5.80%. This provides an estimated HILL reversionary yield of 11.14% once fully let with no maintenance rent or Wingate MORE INFO KELLOE Grange empty rates shortfall. The price reflects just £26.06 per sq ft capital value. COXHOE TRIMDON InD Est HUTTON HENRY COLLIERY PORTFOLIO LOCATION The properties located in Peterlee, The properties are located close Property Address Area Sq ft Rent Net Rent after S/C No Units % Portfolio Shotton Colliery, South Hetton, to one another approximately 15 & Rates Shortfall by Floor Area Wheatley Hill and Wingate are all km (9 miles) to the east of Durham 1 South Hetton Industrial Estate, South Hetton DH6 2UZ 12,000 £43,300 £42,033 11 11.13% within County Durham. Durham City all within close proximity of 2 Units 3 & 4, Kilburn Drive, Peterlee SR8 4TQ 30,000 £52,500 £52,500 2 27.85% is a historic cathedral city with the A19 which together with the a resident population of some A1(M) form the two main north/ 3 Horden Seaview Workshops, Kilburn Drive, Peterlee SR8 4TQ 18,150 £47,699 £41,977 10 16.84% 42,939 people and wider County south routes connecting the Durham population of 513,200 North East region. Durham city 4 Pheonix Workshops, Blackhills Road, Peterlee SR8 4LG 10,000 £27,800 £26,100 3 9.29% people (Census 2011). Newcastle is served by the main east coast 5 Shotton Colliery Industrial Estate, Shotton Colliery DH6 2ND 8,000 £32,400 £31,680 8 7.44% upon Tyne is situated 25 km (15 London to Edinburgh rail line with miles) to the north, Sunderland a journey time to London Kings 6 Thornley Station Industrial Estate, Shotton Colliery DH6 2QA 6,400 £23,400 £21,860 8 5.95% 21 km (13 miles) to the north east Cross of approximately 2 hours 7 Wheatley Hill Industrial Estate, Wheatley Hill DH6 3QZ 8,925 £26,450 £21,398 9 8.28% and Darlington 31 km (19 miles) and 30 minutes. to the south, with the Teesside 8 Unit 1 A&B & 1-9, Wingate Grange Industrial Estate, Wingate TS28 5AH 14,250 £36,612 £30,452 11 13.22% conurbation approximately 31 km 107,725 sq ft £290,161 £268,000 (19 miles) to the south east. SOUTH HETTON INDUSTRIAL ESTATE | SOUTH HETTON | DH6 2UZ INTRODUCTION PORTFOLIO SUMMARY LOCATION SOUTH HETTON South Hetton is located 14.4 km (9 miles) east of INDUSTRIAL ESTATE Durham and 3.2 km (2 miles) west of the A19. The subject property is located off the A182 Front UNITS 3 & 4, KILBURN DRIVE Street which links the A690 dual carriage way to the north east with the A19 to the south east. HORDEN SEAVIEW WORKSHOPS DESCRIPTION PHOENIX WORKSHOPS South Hetton Industrial Estate is located on SHOTTON COLLIERY Pasteur Road and comprises 11 units in three INDUSTRIAL ESTATE parades and two standalone units. THORNLEY STATION Units 1-8 are situated in two parades and INDUSTRIAL ESTATE comprise brick built elevations under a pitched WHEATLEY HILL corrugated roof. Each unit has a steel roller shutter INDUSTRIAL ESTATE door and separate pedestrian access with shared yard area to the front. Units 11-13 are situated WINGATE GRANGE at the entrance to the estate and comprise brick INDUSTRIAL ESTATE built elevations with profile cladding to the front MORE INFO facia and a profile clad roof incorporating roof lighting. Each unit has a steel roller shutter door and separate pedestrian access with shared yard area to the front. Units 14 & 15 are of the same construction and are standalone units. Unit Tenant Sq ft Sq m Lease Start Lease Exp Rent Rent psf Maintenance Rent Comments EPC TENURE 1 The NE Mobility Warehouse Ltd 3,999 371.51 01 July 2013 30 June 2016 £12,500 £3.13 £1,600 C74 Break any time with 3 month 4 Creative Woodwork & Joinery 800 74.32 01 June 2013 31 May 2016 £3,200 £4.00 £240 Freehold. notice 5 Vacant 800 74.32 D 88 MAINTENANCE RENT 6 & 7 South Hetton Garage Ltd 1,601 148.64 01 June 2012 31 May 2015 £6,000 £3.75 £640 E105 8 Magnifecig Ltd 800 74.32 01 August 2014 31 July 2017 £3,600 £4.50 £400 Break 01 Sep 2015 & 01 Sep 2016 Maintenance rent £4,810 pa 01 September 11 Steven White t/a Swim ‘n’ Trim 800 74.32 31 August 2016 £3,600 £4.50 £400 F147 2013 Estate running costs inc management fee £4,800 pa 01 November 12 Martin Clark 800 74.32 31 October 2015 £3,600 £4.50 £400 Surplus (Deficit) £10 pa 2012 13 Mr Abdul Ali 800 74.32 01 August 2014 31 July 2017 £4,000 £5.00 £350 22 September 21 September ACCOMMODATION 14 Alan Kenney 800 74.32 £3,600 £4.50 £280 E115 2012 2015 Site area 0.645 Hectares (1.60 Acres) giving a 15 Claire Alexandra Stockdale 800 74.32 01 April 2014 31 March 2017 £3,200 £4.00 £500 Break 01 Apr 2015 & 01 Apr 2016 E124 site cover of 18%. 12,000 1,114.71 £43,300 £4,810 UNITS 3 & 4, KILBURN DRIVE | PETERLEE | SR8 4TQ INTRODUCTION PORTFOLIO SUMMARY LOCATION SOUTH HETTON Kilburn Drive is located 17.6 km (11 miles) INDUSTRIAL ESTATE east of Durham, 17.6 km (11 miles) south of UNITS 3 & 4, KILBURN Sunderland and 2.5 km (1.5 miles) north west DRIVE of Peterlee town centre. The A19 is 4 km (2.5 miles) to the west. The subject property is HORDEN SEAVIEW located off Kilburn Drive, the main estate road, WORKSHOPS in an established industrial location. PHOENIX WORKSHOPS DESCRIPTION SHOTTON COLLIERY INDUSTRIAL ESTATE Units 3 & 4 Kilburn Drive comprises two THORNLEY STATION detached buildings facing onto a large secure INDUSTRIAL ESTATE yard area with palisade fencing. The units have a mixture of brick built and profile clad elevations WHEATLEY HILL with a profile clad roof incorporating roof INDUSTRIAL ESTATE lights. Both units have large steel roller shutter WINGATE GRANGE door access together with separate pedestrian INDUSTRIAL ESTATE access to internal office accommodation. Unit 4 has a second steel roller shutter door access to MORE INFO the west of the unit. TENURE Freehold. MAINTENANCE RENT Maintenance rent £4,000 pa Estate running costs inc management £4,000 pa fee Surplus (Deficit) £0 pa Unit Tenant Sq ft Sq m Lease Start Lease Exp Rent Rent psf Maintenance Rent Comments EPC 3 Metromail Ltd 15,000 1,393 28 April 2009 27 April 2018 £26,250 £1.75 £2,000 Break 28 Apr 2015 E 106 Break 01 Mar 2016 £10k ACCOMMODATION 4 Panther Warehousing Plc 15,000 1,393 16 December 2013 28 February 2018 £26,250 £1.75 £2,000 C 71 penalty Site area 0.905 Hectares (2.23 Acres) giving a 30,000 2,786 £52,500 £4,000 site cover of 33%. HORDEN SEAVIEW WORKSHOPS | KILBURN DRIVE | PETERLEE | SR8 4TQ INTRODUCTION PORTFOLIO SUMMARY LOCATION SOUTH HETTON Horden Seaview Workshops are located INDUSTRIAL ESTATE immediately opposite Units 3&4 Kilburn Drive on Timber Road. The estate is located 17.6 km UNITS 3 & 4, KILBURN (11 miles) east of Durham, 17.6 km (11 miles) DRIVE south of Sunderland and 2.5 km (1.5 miles) HORDEN SEAVIEW north west of Peterlee town centre. The A19 is 4 WORKSHOPS km (2.5 miles) to the west. The subject property is located off Kilburn Drive, the main estate PHOENIX WORKSHOPS road, in an established industrial location. SHOTTON COLLIERY INDUSTRIAL ESTATE DESCRIPTION THORNLEY STATION Horden Seaview Workshops comprises 10 INDUSTRIAL ESTATE modern units arranged in two separate parades facing a large block paved courtyard area. The WHEATLEY HILL units are of a high specification and incorporate INDUSTRIAL ESTATE profile cladding to all elevations and profile WINGATE GRANGE clad roofs incorporating roof lights. Each unit INDUSTRIAL ESTATE has an electric roller shutter door and separate pedestrian access via an aluminium framed MORE INFO double glazed entrance to an office area. The units incorporate lighting and heating. Externally each unit has a dedicated block paved yard and parking area. TENURE Unit Tenant Sq ft Sq m Lease Start Lease Exp Rent Rent psf Maintenance Rent Comments EPC Freehold.
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