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MULTI LET INDUSTRIAL ESTATE INVESTMENT SALE ENTER > MULTI LET INDUSTRIAL ESTATE INVESTMENT SALE Burrington Business Park, Burrington Way, Plymouth PL5 3LX ENTER > BURRINGTON BUSINESS PARK BURRINGTON WAY, PLYMOUTH PL5 3LX INVESTMENT SUMMARY • Multi Let industrial investment • Located just off the A38, north of Plymouth City Centre • Multi let to 12 tenants across 16 industrial units & 5 offices • Current gross rent of £645,434 per annum • Current net rent of £577,967 per annum • Total GIA – 118,220 sq ft • Planning consent for 5 x 2,000 starter units in the car park • Site area of 7.58 acres (3.07 hectares), providing a low site coverage of approximately 35% • Current rent ranging from £4psf. Latest letting - £9 psf • Significant reversion available • £3,000,000 cap-ex in 2018 We are instructed to guide £7,500,000 which is a NIY of 7.22% on the income and £500,000 for the consented development plot. Total price - £8,000,000 This breaks back to a low capital value of £63 psf and a reversion of 9.16% INVESTMENT LOCATION SITUATION DESCRIPTION TENURE, TENANCY, COVENANTS FREEPORT STATUS PLANNING PROPOSAL SUMMARY ACCOMMODATION VAT EPC PERMISSION FURTHER INFO BURRINGTON WAY, PLYMOUTH PL5 3LX BURRINGTON BUSINESS StPARK Clears Carmarthen Haverfordwest A4042 A417 A40 Ammanford A429 A418 M5 A4010 St David’s Milford Haven A470 A465 A419 Pembroke Dock Llanelli M40 Tenby Neath A449 M48 A31 B4271 Swansea Swindon A404 Newport A429 A34 M4 M49 M4 M4 Cardi M32 A346 M4 Reading Bristol Bracknell M5 A4 Newbury Western-Super-Mare A50 A38 Bath A37 A338 M3 Basingstoke Ilfracombe Minehead A39 A303 Bridgwater Glastonbury A338 Barnstable A3 M5 A303 A350 Taunton M3 A39 A303 M27 Yeovil A354 A386 A31 Southampton A3(M) A37 M27 A27 Portsmouth A30 A35 Exeter A3052 A35 A30 Okehampton Bournemouth ISLE OF WIGHT A39 Exmouth Weymouth A30 Tavistock Newton Abbot A38 Bodmin Liskeard Torquay A38 Saltash Newquay A38 A30 Looe Plymouth A3075 A390 St Austell Wembury A39 Redruth Truro St Ives Salcombe A30 A394 Falmouth Penzance LOCATION WEST PARK Plymouth is a port city in England Plymouth’s economy remains ROAD CONNECTIONS CROWNHILL ROAD TO TRURO DEVON EXPRESSWAY on the south coast of Devon, strongly influenced by & CORNWALL KING’S AY HONICKNOWLE Newquay Airport 46 miles SW TAMERTON ES PR A38 EX approximately 37 miles (60 km) shipbuilding and seafaring but N DEVO Exeter Airport 48 miles MANADON south-west of Exeter and 190 has tended toward a service SS A386 VICTORIA ROAD PA SALTASH BY UX EA miles (310 km) south-west of economy since the 1990s. It has D Exeter 55 BARNEmiles BARTON U B T A38 S DEVON EXPRESSWAY London. Enclosing the city are ferry links to Brittany (Roscoff and WESTON MILL H ON ICK Truro 56 miles NO W the mouths of the river Plym and St Malo) and to Spain (Santander). L W BURRINGTON WAY E O N PROSPECT ROAD L A L HAM PENNYCROSS N E river Tamar, which are naturally It has the largest operational S E Bristol 121 miles L TO E Y EXETER R HAM DRIVE incorporated into Plymouth naval base in Western Europe, OAD & M5 London 217 miles A386 Sound to form a boundary with HMNB Devonport, and is home to Cornwall. the University of Plymouth. CAMELS HEAD B3250 PEVERELL PARK ROAD RAIL CONNECTIONSRIVER TAMAR B3396 NORTH PROSPECT The city is home to 262,100 (mid- The City is a key commercial A3064 OUTLAND ROAD Exeter 55 mins PEVERELL 2019 est.) people, making it the centre and administrative hub L NAVY YA AVEN 30th-most populous built-up area for the region and serves as a Bristol 1hr 54 mins RO UE HOME PARK KEYHAM in the United Kingdom and the gateway location for the whole of FORD A386 London Paddington 2hrs 59 mins NAVY second-largest city in the South Cornwall (554,000 people) and DOCKYARDS TO PLYMOUTH ROAD CITY CENTRE West, after Bristol. It is governed the majority of Devon (780,000 B3396 & WATER FRONT STOKE MUTLEY locally by Plymouth City Council. people). MILEHOUSE INVESTMENT LOCATION SITUATION DESCRIPTION TENURE, TENANCY, COVENANTS FREEPORT STATUS PLANNING PROPOSAL SUMMARY ACCOMMODATION VAT EPC PERMISSION FURTHER INFO St Clears Carmarthen Haverfordwest A4042 A417 A40 Ammanford A429 A418 M5 A4010 St David’s Milford Haven A470 A465 A419 BURRINGTONPembroke Dock BUSINESS PARKLlanelli BURRINGTON WAY, PLYMOUTH PL5 3LX M40 Tenby Neath A449 M48 A31 B4271 Swansea Swindon A404 Newport A429 A34 M4 M49 M4 M4 Cardi M32 A346 M4 Reading Bristol Bracknell M5 A4 Plymouth Marine Academy Newbury Western-Super-Mare A50 A38 Bath A37 A338 M3 Basingstoke Ilfracombe Minehead A39 A303 Bridgwater Glastonbury A338 Barnstable A3 City Centre M5 A303 A350 Taunton M3 Plymouth Docks Burrington Business Park A39 A303 M27 Yeovil A354 A386 A31 Southampton M27 A3(M) Stainless Fabs Limited A37 A27 Portsmouth A30 Mitie A35 Exeter A3052 A35 A30 Bournemouth Kestrel Park Okehampton NHS Records Management ISLE OF WIGHT A39 Exmouth Weymouth A30 Tavistock Newton Abbot A38 Liskeard Cornwall PalladiumBodmin Business Supplies Torquay A38 Saltash Newquay A38 Burrington Business Park A30 SSE Contracting Plymouth BL ElectricalLooe Contractors Exeter A3075 A390 St Austell Wembury A39 Redruth Truro St Ives Salcombe Walkham Business Park A30 Falmouth A394 A38 Devon Penzance Booker Wholesale Expressway A38 Devon Expressway Cornwall Plymouth Library Services WEST PARK CROWNHILL ROAD TO TRURO DEVON EXPRESSWAY & CORNWALL KING’S AY HONICKNOWLE SW TAMERTON ES PR A38 EX N DEVO All Saints Church of MANADON England Academy SS A386 SALTASH VICTORIA ROAD YPA X B Exeter U EA D 44 miles BARNE BARTON U B T A38 S DEVON EXPRESSWAY WESTON MILL H ON ICK NO W L W BURRINGTON WAY E O N PROSPECT ROAD L A L HAM PENNYCROSS N E S E L TO SITUATION E Y EXETER R HAM DRIVE OAD & M5 Burrington Business Park sits in The location offers an excellent ‘last A386 Burrington Industrial Estate and mile’ facility, connecting the wider road CAMELS HEAD B3250 PEVERELL PARK ROAD centrally in the Plymouth city boundary. network with access to the 200,000 RIVER TAMAR B3396 A3064 NORTH PROSPECT OUTLAND ROAD It provides an excellent location for homes in the city. PEVERELL local and regional connectivity, but AL NAVY AV The park is occupied by a range of OY ENU HOME PARK also offering unrivalled employment R E companies, from manufacturing, building KEYHAM demographics, with Plymouth city, FORD A386 supplies, garages, and a cash & carry. NAVY Saltash, Plymstock and Plympton all DOCKYARDS TO PLYMOUTH ROAD CITY CENTRE within 5 miles and c.15 mins drive / bus. B3396 & WATER FRONT Open in here STOKE MUTLEY MILEHOUSE INVESTMENT LOCATION SITUATION DESCRIPTION TENURE, TENANCY, COVENANTS FREEPORT STATUS PLANNING PROPOSAL SUMMARY ACCOMMODATION VAT EPC PERMISSION FURTHER INFO BURRINGTON BUSINESS PARK BURRINGTON WAY, PLYMOUTH PL5 3LX DESCRIPTION Burrington Business Park is a multi-let the entire estate. The warehouse industrial estate offering 16 industrial specification includes full eaves height units and 5 offices, totaling 118,220 of up to approximately 5.02m as well sq ft gross. There are some internal as level access loading doors and 10 corridors and fire escapes meaning dock levellers. the space nets back to 109,408 sq ft. The specification of the offices The building is of steel frame includes double glazed windows, construction, with a concrete floor, 2.40m floor to ceiling height, blockwork walls with predominantly suspended ceilings with recessed LED profile steel sheeting to the walls and lighting, perimeter trunking and roof roof. The property provides a large mounted VRF heating and cooling parking area which wraps around system. LANDLORD REFURBISHMENT The landlord acquired the property in 2014, since which time in excess of £3m has been invested in the property with a focus on energy efficiency, including the installation of insulated cladding, energy-saving roofing and solar panels. INVESTMENT LOCATION SITUATION DESCRIPTION TENURE, TENANCY, COVENANTS FREEPORT STATUS PLANNING PROPOSAL SUMMARY ACCOMMODATION VAT EPC PERMISSION FURTHER INFO BURRINGTON BUSINESS PARK BURRINGTON WAY, PLYMOUTH PL5 3LX TENANCY ACCOMMODATION TENURE The properties 16 industrial units and 5 offices are let The property extends to an approximate GIA of The property is held FREEHOLD. to 12 tenants. The units range in size from 980 sq ft to 118,220 sq ft, but taking out some internal corridors 15,000 sq ft, with an average unit size of 6,000 sq ft. leaves 109,408 sq ft of lettable accommodation. All tenants are in occupation and paying rent. The rents have increased over £50,000 in the last 12 months, despite Covid-19. A full tenancy schedule is available on request, or can be found by clicking here. 60.09 DP 60.38 Red Gun Handy Plymouth Babcock Rogers Cross Straps Community Love Show Rogers Keep Create Climbing Hangar CTSW CMO Lloyds Roofing N 60.35 60.13 INVESTMENT LOCATION SITUATION DESCRIPTION TENURE, TENANCY, COVENANTS FREEPORT STATUS PLANNING PROPOSAL SUMMARY ACCOMMODATION VAT EPC PERMISSION FURTHER INFO BURRINGTON BUSINESS PARK BURRINGTON WAY, PLYMOUTH PL5 3LX COVENANTS Due to its proximity to Plymouth City Centre and the wealth of employment opportunities, the estate is occupied by a wide range of companies. Covenants range from large corporations like Devonport Royal Dockyard (Babcock) through to charities like Love Keep Create. Most tenants are a great success story in their own right, and a number have been on the estate since its conversion in 2014. We focus on the major income profiles in the estate, namely: Construction Materials Online Rogers Wholesale Foods Limited Construction Materials Online (CMOStores. Rogers Wholesale Foods started in January 2015 com) are a major online retailer for contrcution and has expanded quickly to operate “The UK’s materials across the UK. CMOStores.com Biggest Gone Past Best Before Warehouse”.
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