Kirk Sandall Brochure Doncaster V3.Q:Layout 1
Total Page:16
File Type:pdf, Size:1020Kb
Prime Industrial Investment Opportunity Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR Investment Summary • The estate is located in Kirk Sandall, an established industrial location, 3.0 miles north east of Doncaster town centre. • Excellent access to the motorway infrastructure network with Junction 4 of the M18 being located 3.5 miles to the south east, and Junction 35 of the M62 located 10.2 miles to the north. Junction 37 of the A1 (M) is located 6.5 miles to the south east of the estate. • Fully let industrial investment, with tenants including Howden Joinery Properties Limited, Abel & Cole Limited and Direct Trade (Yorkshire) Limited. • A terrace of seven industrial units extending to a combined gross internal area of 4,890.36 sq m (53,075 sq ft). • Long leasehold by way of a 125 year lease (less three days) from 4 August 1980 at a peppercorn. • Kirk Sandall Industrial Estate extends to a total of 1.381 hectares (3.413 acres), providing a site coverage of circa 36%. • Passing rent of £218,608 per annum exclusive. • A weighted average unexpired lease term of 6.48 years to expiry (4.94 years to break options). • Offers in excess of £2,600,000 (Two Million, Six Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a net initial yield of 7.95%, assuming usual purchaser’s costs of 5.80%. Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR STAINFORTH A19 5 A638 A1(M) 38 Kirk Sandall M18 Location Industrial Estate Doncaster is located in South Yorkshire, approximately 27 miles north east of Sheffield, 17 miles KIRK SANDALL A18 A638 A19 east of Barnsley and 32 miles south east of Leeds. EDENTHORPE Doncaster had a population of 302,402 people according to the 2011 UK census. A630 37 The town has excellent transport links being close to the M18 and A1(M), providing ease of A635 A635 A630 4 ARMTHORPE access to the wider motorway network. M18 A18 Rail services to London Kings Cross are available on the East Coast Mainline in a journey time A1(M) DONCASTER of approximately 1 hour 45 minutes. A630 A638 Situation 36 A6182 The estate is located in a well established industrial area approximately 3.0 miles north east of 3 A630 Doncaster town centre. The A630 provides direct access to Junction 4 of the M18, approximately 3.5 miles to the south east, with Junction 37 of the A1 (M) located 6.5 miles to the west. In the surrounding area there are a mix of industrial and trade estates including Guildhall ARMTHORPE LANE Industrial Estate and Lake Enterprise Park as well as individual industrial units. Surrounding D occupiers include Plumb Center, Staples, Tile Depot, Marcrist, Wheatley Pallet Service and R R E Barton Blinds. T S Kirk Sandall A ONC Industrial Estate D A18 A18 EDENTHORPE BARNBY DUN RD A630 A630 A630 Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR d 6 o t a 6 Description 5 a f e D The property comprises an industrial estate of seven single storey units constructed in the E S O L C 5 c Y early 1980s, totalling 4,809.36 sq m (53,075 sq ft) as a single terrace. The units have an eaves R U T N E height of c. 5.5 m, are of steel portal frame construction with cavity brick walls, and profiled C D A metal cladding above. The warehouses each benefit from a roller shutter door to the front O R R E T S A C N elevation. The units are all of a similar size internally and have ground floor ancillary office O D El Sub Sta T H O accommodation. R N Pumping Station L A N E Post The site extends to approximately 1.381 hectares (3.413 acres), providing a site coverage of 8.2m circa 36%. Warehouse Tank H UN GE RH IL L L Accommodation AN E R C Unit Sq M Sq Ft 9.1m 1 718.51 7,734 2 711.08 7,654 Tanks 3, 4, 5 & 6 2,680.86 30,794 7 698.91 7,523 For illustrative purposes only. 7.3m Hoarding Total 4,809.36 53,075 The property has not been measured and all areas have been provided by St. Modwen. Tenure The property is held on a long leasehold basis by way of a 125 year lease (less three days) from 4 August 1980 at a peppercorn rent. We understand that the head lease holder is Ashtenne Industrial Fund Nominee No. 1 Limited and Ashtenne Industrial Fund Nominee No. 2 Limited, with the freeholder being PAS Property Services Limited. Service Charge We understand that the current service charge is running at £11,146 per annum, reflecting £0.21 per sq ft. Full service charge information is available on request. Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR Tenancy Schedule The property is fully let to five tenants at a combined passing rent of £218,608 per annum exclusive. The property has a weighted average unexpired lease term of 6.48 years to expiry and 4.94 years to the breaks. Each lease has been made on effective FRI terms. The full tenancy details are summarised below. The property has not been measured in accordance with the RICS code of measuring practice 6th edition and the areas have been provided by the Client. Unit Tenant GIA Passing Lease Lease Rent Break Remaining Comments Sq Ft Rent Start Expiry Review Clause Term To Expiry 1 Direct Trade (Yorkshire) Limited 7,734 £31,000 25/02/16 24/02/22 24/02/19 24/02/19 6.15 Outside of the LTA 1954. Mutual landlord and tenant break clause. 2 Abel & Cole Limited 7,654 £30,616 21/07/15 20/07/21 21/07/18 21/07/18 5.55 3, 4, 5 & 6 MAK Distribution Limited 30,794 £123,000 08/01/16 07/01/21 5.01 Four months rent free which the vendor will top up. 7 Howden Joinery Properties Limited 7,523 £30,092 27/04/15 26/04/30 27/04/20 27/04/25 14.32 Half rent (£15,046) until 27/04/2017 which the vendor will top up. Hoarding Clear Channel UK Limited £3,900 16/01/13 15/01/18 2.03 Outside of the LTA 1954. Total £218,608 Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR Covenant Information The property is fully let to Howden Joinery Properties Limited, Direct Trade (Yorkshire) Limited, Abel & Cole Limited, MAK Distribution Limited and Clear Channel UK Limited and we detail the accounts below: Tenant Year Ending Turnover Pre-tax profit Total Assets Shareholders £ £ £ funds £ Direct Trade (Yorkshire) Limited 31/03/14 15,801,377 1,760,062 5,981,795 2,688,963 31/03/13 13,142,479 1,069,116 4,778,767 1,898,825 31/03/12 11,073,776 573,325 2,943,607 1,131,743 Abel & Cole Limited 26/04/14 65,024,000 3,743,000 16,227,000 6,735,000 27/04/13 38,081,000 -208,,000 12,874,000 3,996,000 31/08/12 46,510,725 3,094,584 10,839,337 4,354,179 MAK Distribution Limited 30/04/14 n/a n/a 2,052,443 413,961 30/04/13 n/a n/a 1,420,177 516,642 30/04/12 n/a n/a 1,471,819 506,837 Howden Joinery Properties Limited 27/12/14 40,790,000 686,000 66,817,000 334 ,600 28/12/13 36,248,000 721,000 53,566,000 1,355,000 29/12/12 35,728,000 858,000 47,740,000 2,917,000 Clear Channel UK Limited 31/12/13 136,614,000 8,189,000 256,929,000 187,114,000 31/12/12 134,336,000 5,800,000 147,966,000 82,650,000 31/12/11 126,113,000 2,256,000 143,792,000 76,657,000 Kirk Sandall Industrial Estate, Doncaster, South Yorkshire, DN3 1TR EPC Further Information EPCs are available on request. For further information and in order to arrange an inspection, please contact; VAT David Watson 0113 234 1444 The property is VAT elected. [email protected] Proposal Chris Watt 0113 234 1444 We are instructed by our client St. Modwen, the UK’s leading regeneration specialist, who [email protected] currently own and manage the site to seek offers in excess of £2,600,000 (Two Million, Six Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a net initial yield of 7.95%, assuming usual purchaser’s costs of 5.80%. Misrepresentation Act 1967: WSB Property Consultants LLP for itself and for the vendor(s) or lessor(s) of this property whose agent it is give notice that 1. These particulars do not constitute any part of an offer or contract. 2. None of the statements contained in these particulars as to the property(s) are to be relied on as statements or representations of fact. 3. Any intending purchaser must satisfy himself/herself 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 WSB Property Consultants LLP nor any person in its employment has any authority to make or give any representation or warranty whatsoever in relation to the property.