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Unit C Spectrum Business Park, Wrexham

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Unit C Spectrum Business Park, Wrexham OFFICES A MODERN, FREEHOLD, INDUSTRIAL INVESTMENT OPPORTUNITY FOR SALE Unit C, Spectrum Business Park, Wrexham Industrial Estate, Wrexham, LL13 9QA INVESTMENT SUMMARY ● Wrexham Industrial Estate is one of the largest estates in Europe and is home to over 300 companies. ● The property comprises a modern, detached manufacturing facility situated at the heart of Wrexham Industrial Estate. ● A new £35M link road, servicing the Estate has recently been completed. ● Total gross internal floor area 41,415 sq ft (3,822 sq m) ● Site Area 2.26 acres (0.91 Hectares) ● Let to SPI Global Play Limited for a 10 year term with effect from 1�� May 2012 at a passing rental of £137,350 per annum (£3.32 per sq ft). ● The lease is subject to a rent review on 1�� May 2017. The rent on review is calculated by reference to the change in the All Items Index of RPI for the period between May 2012 and March 2017. ● We are instructed to seek offers in excess of £1,500,000 for the freehold interest representing a net initial yield of 8.63% net of purchasers’ costs. ● Low capital value equivalent to £36.22 per sq ft. New North Wales Prison Opening 2017 Calypso Calypso Unit C Ball Packaging LOCATION Wrexham is the administrative centre of the wider Wrexham County Borough Council and the largest town in North Wales with a population of 61,600 and a county wide population of 135,000. As North Wales’ largest town, it is a major centre of the region’s commercial, retail and education infrastructure. Wrexham is situated 12 miles south of Chester and 29 miles north of Shrewsbury. In recent years, Wrexham’s economy has moved away from traditional heavy industries to high tech manufacturing, bio-technology, finance and professional services. WREXHAM INDUSTRIAL ESTATE Wrexham Industrial Estate lies approximately 3 miles to the east of Wrexham town centre. The Estate was originally developed during the inter war period and has subsequently developed to an area of approximately 550 hectares (1,350 acres). There are around 300 businesses on Wrexham Industrial Estate providing employment for approximately 7,000 people. Major occupiers include Kelloggs, JCB, Wockhardt and Hoya Lens. The Estate has witnessed significant take up over the course of the last 2 to 3 years. A number of key occupiers are investing in new bespoke facilities on the Estate and the supply of both land and buildings are constrained. The Estate has benefited from the completion of a new £35M link road which provides a dual carriageway route from the Estate to the A483 (Wrexham By-Pass) which in turn links to the A55 and M53 to the north. DESCRIPTION The property comprises a detached manufacturing facility with a generous service yard and vehicle parking. The unit was constructed in the 1980’ and is of steel frame construction, clad to the lower sections in brick and block work and to the upper sections with insulated profile steel sheeting. The property is situated at the heart of the Estate and lies directly opposite the new North Wales Prison which is currently under construction. The property benefits from integral office accommodation and is serviced by way of 4 roller shutter doors, two in the northwestern elevation and two in the south eastern elevation. The production area has an eaves height of approximately 7.5 metres. ACCOMMODATION The property has been measured in accordance with the RICS Code of Measuring Practice on a gross internal area basis. Description Production 34,792 sq ft 3,233.21 Area sq m Office & 6,623 sq ft 615.29 Ancillary sq m Total 41,415 sq ft 3,847.5 sq m Site area is 0.91 hectares (2.26 acres). UNIT C TENANCY TENANT COVENANT The property is let to SPI Global Play Limited by way of a 10 year lease with effect SPI Global Play Limited (Company Number 01041364) was established in from 1�� May 2012. 1972. The current rent passing is £137,350 per annum. The company has a long standing association with Wrexham having operated for many years on Wrexham Technology Park before relocating to The lease is subject to rent review on the 1�� May 2017. The rent on review is Wrexham Industrial Estate. calculated by reference to the change in the All Items Index of RPI for the period between May 2012 and May 2017. (The increase to date is 6.765% which would The company are one of the largest manufacturers and suppliers of increase the rent passing to £146,642 per annum at review.) children’s play equipment in Europe. For further information ref: www.spiglobalplay.com . The tenant has an option to break on the 30�� April 2018. subject to serving 12 months notice. SPI Global Play Limited have a dun and bradstreet rating of A2 with a turnover for the year ending 31/12/2014 of £5,799,041 and a tangible net The lease is drafted on a full repairing basis subject to a cap on the tenants liability worth of £601,617. to repair the roof in any one year. FINANCIAL SUMMARY The lease also allows the tenant to reduce the rent by £5,000 in years 5,7 and 10 in the event that the tenant expends more than £30,000 on authorised alterations Fiscal Fiscal to the property. Further information is available upon request. Non consolidated Non consolidated GBP GBP 31 Dec 2014 31 Dec 2013 Sales Turnover £5,779,041 £5,460,997 Profit/(Loss) Before (£8,248) £97,801 Taxes Tangible Net Worth £601,617 £608,996 Net Current Assets £194,390 £267,580 (Liabilities) PROPOSAL We are instructed to offer the freehold interest for sale for which we are inviting offers in the region of £1,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.63% net of purchaser’s costs of 6.1%. VAT The property is elected for VAT. FURTHER INFORMATION For further information please contact: Stephen Wade Tel: 07779 656 799 E-mail: [email protected] MISREPRESENTATION ACT 1967 (Conditions under which particulars are issued). Legat Owen Limited for themselves and the Vendors/Lessors of this property whose Agents they are given notice that these particulars do not constitute any part of an offer or contract, that all statements contained in these particulars as to this property are made without responsibility and are not to be relied on as statements or representations of fact and that they do not make or give any representation or warranty whatsoever in relation to this property. Any intending purchaser/lessees must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. April, 16 SUBJECT TO CONTRACT.
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