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Raynham Road Industrial Estate | Bishop’S Stortford | Cm23 5Pb Stansted Airport

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Raynham Road Industrial Estate | Bishop’S Stortford | Cm23 5Pb Stansted Airport RAYNHAM ROAD BISHOP’S STORTFORD, INDUSTRIAL ESTATE CM23 5PB REVERSIONARY SOUTH EAST MULTI LET ESTATE WITH DEVELOPMENT & ASSET MANAGEMENT OPPORTUNITIES INVESTMENT SUMMARY • Unique opportunity to acquire an established multi – let industrial estate in a core South East market 1 MILE FROM M11 MOTORWAY • Situated off the A1250 Dunmow Road being 1 mile from Junction 8 of the M11 • Multi let estate comprising of 26 industrial and trade counter units totalling 101,374 sq ft (GIA), with unit FULLY LET INDUSTRIAL AND sizes ranging from 1,626 sq ft to 13,996 sq ft TRADE COUNTER ESTATE • 29% of the estate (by floor area) was constructed since 2010 • Fully let to 18 tenants with a headline rent of£794,225 per annum, reflecting a low average rent of £7.83 per sq ft 37% OF THE ESTATE • The estate has an average weighted unexpired lease CONSTRUCTED SINCE 2010 term of approximately 6.7 years to expiry and 3.3 to tenant break options • Strong tenant line up to include a number of trade FUTURE REPOSITIONING occupiers, including Edmundson Electrical, Screwfix AND REDEVELOPMENT and ITAB Prolight UK Ltd OPPORTUNITY • Prominent site totalling approximately 9.43 acres, reflecting a low site density of 31.8% • Immediate asset management opportunities and LOW HEADLINE RENT longer term development OF £7.83 PSF • Freehold Offers are sought in excess of £12,400,000 (Twelve Million, Four Hundred Thousand Pounds), subject to contract and exclusive of VAT, which reflects a Net Initial Yield of 6.00%, assuming purchaser’s costs of 6.71%, and a capital value of £122 per sq ft. RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB STANSTED AIRPORT ß CAMBRIDGE M11 (JUNCTION 8) LONDON à A1250 RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB M6 Toll M42 LEICESTER A1 A47 NORWICH A47 M6 A5 HINCKLEY PETERBOROUGH A1065 A134 A141 A140 Birmingham Hams Hall Rail A6 A43 Airport Freight Terminal M1 A10 CORBY A11 BIRMINGHAM M6 M69 A605 A1(M) LOCATION KETTERING M5 M42 COVENTRY A14 A141 A1066 RUGBY DIRFT A14 A11 A143 M42 A508 A43 M45 A134 A140 A435 A14 A10 A14 A6 BURY ST STRATFORD- J16 A428 CAMBRIDGE EDMUNDS Bishop’s Stortford is strategically located in the county of M40 A423 A428 UPON-AVON A5 J15 A14 Hertfordshire in the South-East of England. The town is A46 BEDFORD A1 part of the M11 expansion corridor and well positioned to A429 M1 M11 A134 benefit from the large population pool of North London A43 BANBURY IPSWICH A44 MILTON A505 and the thriving economic corridor between London and KEYNES A10 A12 A14 Cambridge. There are over 11.2 million people living within A421 A6 RAYNHAM ROAD INDUSTRIAL ESTATE A44 A5 Luton Airport 60 minutes, increasing to more than 23 million within two A120 London Oxford Airport STEVENAGE BRAINTREE hours travel time. CHELTENHAM A120 A41 A418 COLCHESTER A1(M) Stansted Airport Bishop’s Stortford benefits from excellent road A429 A10 M11 A40 M1 A12 OXFORD A418 A41 communications being directly adjacent to the M11 WELWYN motorway (Junction 8) which in turn connects to the M25 GARDEN CITY CHELMSFORD A413 (Junction 27) to the south and the A14 dual carriageway, A420 M40 M25 A10 A419 M25 to the north. A34 SWINDON A127 LONDON London Gateway Bishop’s Stortford rail station provides frequent rail Heathrow Airport A13 SOUTHEND-ON-SEA services to London Liverpool Street with a fastest journey A4 M4 READING M4 time of 38 minutes. Hourly rail services run from Stansted A4 City Airport M3 A2 to Cambridge, Peterborough and the Midlands. MARLBOROUGH A33 A249 London Stansted Airport is conveniently located 3.5 M2 M25 miles from Raynham Road and is key to the economy of A34 A331 MAIDSTONE A21 the region. It is the UK’s fourth busiest airport currently M3 A303 Gatwick Airport A22 A28 A2 serving around 170 destinations in 37 countries across the A31 M20 A3 globe, with annual passenger numbers in excess of 22.6 CRAWLEY SALISBURY million per annum. A2070 WINCHESTER A23 FOLKSTONE A36 A272 A354 A3 SOUTHAMPTON MILES BRIGHTON A26 PORTS HASTINGS MILES RAIL JOURNEY TIME (MINS) BISHOP’S STORTFORD TRAIN STATION 1.3 LONDON GATEWAY 48 STANSTED AIRPORT 8 M11 (JUNCTION 8) 1.7 HARWICH / FELIXTOWE 55 TOTTENHAM HALE (VICTORIA LINE) 24 M25 (JUNCTION 27) 19 CAMBRIDGE 29 CAMBRIDGE 27 AIRPORTS MILES LONDON LIVERPOOL STREET 38 LONDON 35 LONDON STANSTED 4 LONDON CITY AIRPORT 32 LONDON LUTON 35 RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB HOWLETT LANGLEY END NEWPORT DEBDEN GREEN WIDDINGTON STOCKING SITUATION PELHAM M11 HENHAM BROXTED RAYNHAM ROAD INDUSTRIAL ESTATE IS SITUATED OFF PATMORE THE A1250 DUNMOW ROAD BEING 1 MILE FROM JUNCTION HEATH STANSTED 8 OF THE M11 AND 8 MINUTES’ DRIVE FROM STANSTED AIRPORT. THE ESTATE IS ALSO APPROXIMATELY 1 MILE Stansted Airport AWAY FROM BISHOP’S STORTFORD TOWN CENTRE AND ALBURY MAINLINE RAILWAY STATION. END A120 A120 BAMBER’S The site is bounded to the south east by Raynham Close, which GREEN was constructed in the early 1990’s and is home to a number BISHOP’S A120 of trade operators including Plumb Centre, Sally Hair & Beauty, STORTFORD J8 Toolstation Station and City Electrical Factors Ltd. Residential A1250 dwellings border the three other boundaries to the estate. RAYNHAM ROAD INDUSTRIAL ESTATE The wider estate also includes a number of high profile MUCH automotive operators including Motor Parts Direct and HADHAM A1060 Stortford Performance Tyres. More recently, Gu Puds, the A1184 leading desert manufacture has opened a new 100,000 sq GREAT ft manufacturing facility nearby, creating 100 new jobs and LITTLE CANFIELD HALLINGBURY boosting the local economy. M11 B1383 A1184 To á A120 CAMBRIDGE Par HATFIELD son age Lan HEATH e HUNTSDON d a RAYNHAM ROAD o R d INDUSTRIAL ESTATE e t s n a t S R a Dun yn mow h Road am A1250 R o J8 a d d a o R Bishop’s Stortford w mo Golf Club Dun ad w Ro Dunmo A1250 BISHOP’S STORTFORD M11 L To â o n d o HOCKERHILL LONDON n R o a d A1060 RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB DESCRIPTION MODERN SECTION ORIGINAL ESTATE Raynham Road Industrial Estate is a large, well established multi- There is a modern section of Raynham Road, which was constructed in The remainder of the estate comprises of 20 industrial buildings, let estate comprising a range of industrial and trade counter units. 2010 and comprises of six modern industrial and trade units, totalling totalling 63,688 sq ft (GIA) and amounting to 63% of the total The estate provides a total of 101,374 sq ft (9,418 sq m) (GIA) of 37,686 sq ft and amounting to 37% by floor area. area. The units are of various ages and range in size between accommodation and currently comprises of 26 units. 1,626 sq ft and 13,996 sq ft (GIA). A number have been refurbished, The units benefit from the following specification: however there are further opportunities to enhance value through There is an additional cleared 1.028-acre plot providing an “oven ready” • Steel portal frames refurbishment and reconfiguration. plot for future development, subject to planning. • Pitched roof with profiled steel external sheets The units benefit from the following specification: The estate is fully managed and features dedicated service yards, • Insulated roof with 10% translucent rooflights car parking and landscaping. • Brick cavity wall elevations • Eaves height within the warehouse of 6.5 metres • Pitched steel profile sheeting roof • Floor loading capacity of 30kN/sq m • GRP translucent roof light sheets • Electronically operated sectional loading doors • Modern fully fitted office accommodation • Steel roller shutter loading doors. RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB PLAW HATCH CLOSE CHURCH MANOR SITE PLAW HATCH CLOSE The site is broadly rectangular and totals approximately Phase 2 – hard standing 1.028 acre site provides 9.43 acres (3.82 hectares), reflecting a low site coverage future redevelopment options, subject to planning of circa 31.8%. 11-12 PLAW HATCH CLOSE PHASE 2 SITE SERVICE CHARGE 13-14 The service charge on the park is currently £0.37 per sq RAYNHAM ROAD 6 ft. Additional information will be provided on the data site. 4-5 15-16 3 RAYNHAM ROAD RAYNHAM ROAD 2 1 38 39 RAYNHAM ROAD RAYNHAM ROAD 40 20-21 36-37 22-23 RAYNHAM ROAD 32 S T 30 25 O 29 KEY R 28 T F O R D H Unit sold off freeholdA L RAYNHAM CLOSE L P A Phase 2 site R K For indicative purposes only RAYNHAM ROAD INDUSTRIAL ESTATE | BISHOP’S STORTFORD | CM23 5PB TENANCY SCHEDULE The property is let to 18 tenants in accordance with the below tenancy schedule and benefits from an AWULT of 6.7 years to expiries and 3.3 years to break options. The total headline rent of £794,225 per annum is well diversified with approximately 64% of the headline income generated by the top 5 tenants. HEADLINE HEADLINE AREA LEASE BREAK RENT LEASE INSIDE SCHEDULE OF EPC UNIT TENANT RENT RENT COMMENTS (GIA) START DATE REVIEW EXPIRY 54 ACT CONDITION RATING (PAX) (PSF) Unit 1 Edmundson Electrical Limited 5,946 08/11/2010 08/11/2020 07/11/2025 £59,460 £10.00 Yes No C Unit 2 Screwfix Direct Ltd 5,900 10/12/2014 09/12/2019 10/12/2019 09/12/2024 £33,576 £5.69 Yes No B Tenant’s break on 6 months notice Tenant’s break on 6 months notice. Unit 3 Clearwater Technology Ltd 7,690 01/12/2016 01/12/2021 29/11/2021 30/11/2026 £59,712 £ 7.76 No No Rent Deposit - £5,972 Profile Lighting Services Ltd Tenant’s break on 6 months notice.
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