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1-8 Moorfield Industrial Estate Gatehead Road, Kilmarnock Ka2 0Ba

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1-8 Moorfield Industrial Estate Gatehead Road, Kilmarnock Ka2 0Ba 1-8 MOORFIELD INDUSTRIAL ESTATE GATEHEAD ROAD, KILMARNOCK KA2 0BA HIGH YIELDING UK DISTRIBUTION HQ LET TO OFFICE HOLDINGS LTD FOR A FURTHER 7.5 YEARS 1-8 MOORFIELD INDUSTRIAL ESTATE, GATEHEAD ROAD, KILMARNOCK KA2 0BA INVESTMENT CONSIDERATIONS • Detached distribution hub extending to a gross internal area of 236,615 sq ft (21,878.6 sq m) • Predominantly let to OFFICE Holdings Ltd for a further 7.5 years • Acts as the main distribution centre for Office across the UK • Large site area of 14.24 acres (5.76 ha) • Well located close to main arterial routes of the M77 and M74. • Current rent passing of £558,753.70 pa equating to a low £2.36 psf. • Offers sought in excess of £5,400,000 (Five Million Four Hundred Thousand Pounds) reflecting an attractive net initial yield of 9.75% assuming purchaser’s cost of 6.13% and a low capital value of £23 psf. 1-8 MOORFIELD INDUSTRIAL ESTATE, GATEHEAD ROAD, KILMARNOCK KA2 0BA HIGH YIELDING UK DISTRIBUTION HQ LET TO OFFICE HOLDINGS LTD FOR A FURTHER 7.5 YEARS ABERDEEN B 7 J 0 e 8 an Ar 1 m o u r D DUNDEE r iv PERTH e ies Drive LOCATION Dumfr Kilmarnock is the principal and administrative M90 A7 S 1 t M centre for East Ayrshire, with a population of M80 Hu i rlfo c rd R h oa a d e l approximately 46,000. The town is located ’ M9 s M73 EDINBURGH M o u 32.2 km (20.0 miles) south east of Glasgow A1 n M8 t ount V GLASGOW M illa ge A7 and 18.6 km (11.4 miles) north east of Ayr. M77 A68 A71 The town benefits from a mainline railway B 7 A oad service with regular trains to Glasgow Central 06 R 7 donald A1 1 un KILMARNOCK 4 D (36 minutes). Glasgow International Airport M74 Po and Prestwick Airport are both within close A77 A7 r te A76 A A68 r Dr G 75 i le ve n proximity to the town. 9 759 Or A venue A Hu rin rlf or d R NEWCASTLE UPON TYNE oa A69 d A75 59 A7 A595 A1 (M) A66 A66 M6 A19 A1 A64 A1 (M) YORK M55 M65 LEEDS HULL M62 A63 M62 A15 A1 M58 M60 M18 M180 A52 LIVERPOOL MANCHESTER A1 (M) M53 M62 SHEFFIELD M1 A1 M6 A38 A52 A46 M6 Toll A47 NORWICH BIRMINGHAM A1(M) A14 M5 M6 A11 M42 A43 M40 A428 A1 CAMBRIDGE A11 IPSWICH M50 MILTON M1 M11 KEYNES A1(M) M5 OXFORD M25 M40 M25 SWANSEA M48 M4 M4 CARDIFF BRISTOL LONDON BATH M2 M3 M20 M23 DOVER M5 M27 A23 M27 PORTSMOUTH BRIGHTON EXETER PLYMOUTH 1-8 MOORFIELD INDUSTRIAL ESTATE, GATEHEAD ROAD, KILMARNOCK KA2 0BA HIGH YIELDING UK DISTRIBUTION HQ LET TO OFFICE HOLDINGS LTD FOR A FURTHER 7.5 YEARS 1-8 Moorfield Industrial Estate, Gatehead Road, Kilmarnock KA2 0BA SITUATION DESCRIPTION Wind Turbine 6 The property is situated on the southern side of Moorfield Industrial The property comprises a large industrial facility, purpose built at Moorfield Industrial Estate Estate, a short distance south of Kilmarnock Town Centre and has a the time for Massey Ferguson, however has subsequently been Block 8 prominent frontage onto the A759. reconfigured to be used as a storage and distribution facility. The 4 Moorfield Industrial Estate is well located for access to the local and property acts as the home delivery hub for one of the UK’s leading shoe 3 national road network and is principally connected with Kilmarnock retailers OFFICE. It is OFFICE’s sole distribution centre in the UK. and the neighbouring Ayrshire towns by the A71 carriageway, which is The property also benefits from having an associated two storey office located to the north of the estate with access via the A759. Access and ancillary accommodation, together with private secure yard and 1 north large car park. ESS 6 to Glasgow and south to Ayr is available via the A77/M77 motorway, The warehouse is of steel framed construction with brick and steel clad approximately 6.4 km (4.0 miles) to the north. elevations beneath a pitched double skin steel clad roof, arranged in a 6 5 series of bays. Internally the property consists of an open storage space 7 25.0m 4 2 3 with a screeded concrete floor slab. The eaves height is circa 7.5m. 1 LB Block 5 The property provides the following gross internal areas: Description Area (Sq m) Area (Sq ft) Warehouse 20,487.2 220,524 23.5m Office 1 & 3 746.0 8,030 Office 2 374.4 4,030 Garage Office 4 374.4 4,030 22.3m Total 21,982.1 236,615 59 A 7 MP 2 Thirdpart Cottage © Crown Copyright, ES 100004106. For identification purposes only. 0m 25m 50m 75m Pond Ordnance Survey © Crown Copyright 2016. All rights reserved. Licence number 100022432. Plotted Scale - 1:1487 1-8 MOORFIELD INDUSTRIAL ESTATE, GATEHEAD ROAD, KILMARNOCK KA2 0BA HIGH YIELDING UK DISTRIBUTION HQ LET TO OFFICE HOLDINGS LTD FOR A FURTHER 7.5 YEARS TOTAL SITE AREA TENANCY SCHEDULE The property has a total site area of 14.24 acres (5.76 ha). Unit Tenant Use Lease Next Lease Annual Area Rent Comments TENURE Start Review End Rent (sq ft) (£psf) Feuhold. Warehouse Office Holdings Ltd Industrial 01/01/10 01/01/15 31/12/24 £547,303.70 220,524 £2.48 Tenant paying rates, insurance and service charge only. EPC Office 1 & 3 Office Holdings Ltd Office 01/02/12 31/01/18 £0.00 8,030 Internal repairing lease subject to photographic schedule of condition. Available upon request. Office 2 DHL GBS (UK) Ltd Office 18/06/99 17/06/17 £11,450.00 4,030 £2.84 Lease assigned from DHL Express (UK) Ltd. Tenant is holding over. VAT Office 4 Vacant Office £0.00 4,030 Rates payable £5,150pa The property will be subject to VAT although we anticipate the sale will be treated as a Transfer of a Going Concern. Total £558,753.70 236,615 COVENANT OFFICE was established in 1981 and has grown to be an established name on OFFICE Holdings Ltd produced the following headline accounts the UK High Street with over 150 stores. The business has a global presence with over the last 3 years: stores across Europe and the USA. The subject property is the main UK distribution and home delivery facility for 26/01/2014 25/01/2015 26/06/2016 OFFICE. The operation includes the delivery and storage of goods destined for Turnover £256,044,000 £270,242,000 £387,780,000 all high street stores throughout the UK and overseas. Distribution to single customers ordering products online is also handled at this facility. Pre-Tax Profit £28,106,000 £56,522,000 £29,333,000 The company is privately held:- in December 2015 it was bought by South African clothing retailer Trueworths from Silverfleet Capital for £256m. Total Net Worth £103,595,000 £88,965,000 £108,703,000 DATAROOM PROPOSAL For access to the Allsop Dataroom please use the following link: https://datarooms.allsop.co.uk/register/Kilmarnock Offers sought in excess of £5,400,000 (Five Million Four Hundred Thousand Pounds) reflecting an attractive net initial yield of 9.75% assuming purchaser’s cost of 6.13% and a low capital value of £23 psf. For further information or to arrangements for viewing please contact: Jonathan Butcher Alex Butler 020 7543 6755 020 7543 6722 [email protected] [email protected] www.allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: Command D www.commandHQ.co.uk 07.17.
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