Downing Street Smethwick, Birmingham, B66 2Pp
Total Page:16
File Type:pdf, Size:1020Kb
51 DOWNING STREET SMETHWICK, BIRMINGHAM, B66 2PP INDUSTRIAL INVESTMENT OPPORTUNITY PRIVATE CLIENT < M5 (1 MILE) INVESTMENT SUMMARY • Established industrial location in the West Midlands with good access to the M5 and M6 motorways • Let for an AWULT of 7 years to expiry (6.76 years to break), with the majority let to MI Glass Limited • Total current rent received of £238,970 p.a. • Property provides a total of 58,698 sq ft of industrial and office accommodation • The main unit benefits from front and rear loading yards • Separate detached office building to the front of the site with a dedicated gated car park for 22 cars • Site area of c.2.5 acres with approximately 50% site coverage • Offers sought in excess of £2,720,000 (Two Million Seven Hundred and Twenty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.25% assuming purchaser’s costs of 6.45% representing a low capital value of £46 psf. 51 DOWNING STREET, SMETHWICK, BIRMINGHAM, B66 2PP INDUSTRIAL INVESTMENT OPPORTUNITY Stoke-on-Trent ■ ■ < M6 Newcastle-under-Lyme NOTTINGHAM ■ ■ (3 MILES) DERBY A41 M6 Midlands Airport Shrewsbury ■ ■ Telford M54 LEICESTER M42 ■ Walsall ■ Peterborough ■ HANDSWORTH BOOTH STREET West Bromwich ■ M69 Birmingham International SMETHWICK Airport M1 BIRMINGHAM M6 A1(M) ■ COVENTRY Kidderminster ■ ■ M42 Coventry M45 M5 Airport ■ DOWNING STREET Warwick NORTHAMPTON ■ INDUSTRIAL ESTATE Worcester West Bromwich P ■ ■ A Dartmouth R Cricket ClubStratford-upon-Avon K D A Bedford L Sandwell A Recreation O ■ R < M5 (1 MILE) M40N Ground A E L 41 BIR MiltonL Hereford MINGH E Y AM ■ ROA KeynesW CROMWELL ROAD A D Kenri A4 N D■ W 0 SA Par The 40 PARK ROSE INDUSTRIAL ESTATE INDUSTRIAL ESTATE K Hawthorns C I M5 R M50 N D M1 E A A K E O 41 Kenrick Park N R H E O K A R LY E L NR H ICK WAY O EA Luton A1(M) D M D D R R E R ■ GLOUCESTER L O O ■ D D A F D N L ID A M A L D Luton H A THE BRIDGE TRADING ESTATE D D A O Airport The O R O R O Hawthorns S Y W E T A L T L J I UN E W C TIO V K N T RD D C T R A O ST R O D W H D C F A Handsworth T Galton Bride R R O T L M BO O M Booth Street Station E U 6 T TH A 13 H 4 OL RO B DB A N D E UR REET D T Y ING S R Y WN D Lewisham E S DO N SUBECT PROPERTY Park A A L CO NN E RN E R S WAL OA U L RO D O AD B4 A H 16 4 S FOUND BIRMINGHAM CANAL 9 5 S ARY 7 A LA A457> R N B E R Outline for indicative purposes only. 135 OLF B4 E S T Sethwi Role Street LOCATIONS The historic town of Smethwick is situated in the heart of the West Midlands within the Metropolitan Borough of Sandwell. The town is located approximately 3 miles (5km) north west of Birmingham, 2 miles (3.2km) south of West Bromwich and 130 miles (209 km) north west of London. The town benefits from good transport links: The town has strong road communications Smethwick benefits from good railway Smethwick is located on the Midland Birmingham International Airport is located being located within a mile of junction 1 and 2 links with both Smethwick Rolfe Street and Metro Line 1 operating between the cities 22 minutes by train to the west with non- of the M5 providing direct access to the south Smethwick Galton Bridge located in the town. of Birmingham and Wolverhampton. stop routes to 92 cities including Dubai, New of England. To the north of the town the M6 is Smethwick Rolfe Street operates a number Amongst other stops on the line the metro York, New Delhi and numerous others across accessed via the A38(m) which provides links of Black Country based services whilst provides services to West Bromwich (5 Europe. to the North West. The A457 to the south Smethwick Galton Bridge offers services to minutes), Wolverhampton (37 minutes) and of the town provides a link to the centre of London (2 hours, peak only), Wales and the Birmingham (20 minutes). Birmingham to the east and Oldbury (3 miles) North West of England. and Dudley (6 miles) to the west. 51 DOWNING STREET, SMETHWICK, BIRMINGHAM, B66 2PP INDUSTRIAL INVESTMENT OPPORTUNITY Scrap Yard SL Ligh ting T ower ist Bdy Boro Const & Met D FW DW STREET DOWNING El Sub Sta Slo ping mas onry Y A W O R T Works ESS E M Works ESS 2 1 2 2 e t a t s E Works l a i r t s u r e d t l n e I h l S l a w n r © Crown Copyright, ES 100004106. For identification purposes only. 5 2 o C 1 6 COR NWA LL R 0m 10m 20m 30m OAD E l Su b Sta Ordnance Survey © Crown Copyright 2017. All rights reserved. SITUATION DESCRIPTION Licence number 100022432. Plotted Scale - 1:1250 The property is located on the south side of Downing The property comprises a modern three bay steel portal framed production/ Street which is situated in the established Sandwell warehouse building with a pitched lined corrugated sheet roof incorporating Industrial Estate 3.5 miles (5.6 km) east of Birmingham City translucent panels. To the front of the warehouse building is a modern three storey Centre. Downing Street is located off the B4136 less than office block with brick elevations providing open plan and individual offices. one mile south of Holyhead Road (A41) and the motorway The warehouse benefits from open plan functional space with two level electrically network is accessed via the Birmingham Road which links operated roller shutter doors providing front and rear drive through loading and to the M5 at Junction 1, some 2 miles to the north west. unloading. The property has an eaves height of approximately 7.25m and was The immediate area forms an established industrial extensively fitted out as a glass manufacturing plant by the current tenant in 2003 location which includes Cornwall Road Business Park, as part of the original lease and further dilapidation works were undertaken by Downing Street Industrial Estate and Middlemore Industrial the tenant in 2016 - details available. In addition the tenant has added a crane in Estate. Public transport from Birmingham City Centre to one bay with capacity for five tonnes and they have recently upgraded their power the property is by way of the Midland Metro (Handsworth supply to 4,000 KVA which was an expensive exercise. Booth Street) and a regular bus service is provided along The offices benefit from a private gated car park to the east of the subject property the A41 Holyhead Road/Soho Road. with parking for 22 cars and an attractive walkway through to the offices. 51 DOWNING STREET, SMETHWICK, BIRMINGHAM, B66 2PP INDUSTRIAL INVESTMENT OPPORTUNITY Scrap Yard SL Ligh ting T ower ist Bdy Boro Const & Met D FW DW STREET DOWNING El Sub Sta Slo ping mas onry Y A W O R T Works ESS E M TENURE Freehold COVENANT INFORMATION Works Mi Glass Limited ESS Formally known as Midland Industrial Glass, Mi Glass is one of the largest independent glass processors and glass manufacturers in Europe. The company is UK based and has been processing glass for over 75 years. The company provides all types of glass processing and specialises in flat glass decorative products and toughened glass for industry. Their clients include Marks and Spencers and John Lewis. 2 1 2 2 They are backed by the private equity house, Key Capital Partners and recently secured a £2.5 million funding package from Royal Bank of Scotland. Date of Accounts 31 Aug 2015 31 Aug 2014 31 Aug 2013 e t a t s E Works Sales Turnover 5,711,671 5,752,174 5,058,474 l a i r t s u r e d t l Pre-Tax Profit (000’s) 551,122 528,023 502,126 n e I h l S l a w n r Tangible Net Worth (000’s) 3,510,497 2,957,049 2,411,983 5 2 o C 1 6 Net Current Assets (000’s) 2,423,989 1,830,730 1,395,939 COR NWA TENANCY SCHEDULE LL R 0m 10m 20m 30m OAD E It is worth noting that the tenant (Mi Glass Limited) has recently taken an l Su b Sta The property provides the following accommodation and tenancies: Ordnance Survey © Crown Copyright 2017. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250 extra 24,000 sq ft of additional accommodation at an adjacent unit on Booth Street on 5 years term certain. We believe this shows their commitment to the Unit Tenant Accommodation Sq M Sq Ft Lease Rent Lease Expiry Rent Rent Start Review (Break) £p.a. £psf location. Warehouse/ M I Glass Limited Warehouse 4,302.0 46,307 01/09/14 01/09/17 31/08/24 £211,000 £3.94 CRM-SUK Ground floor CRM services Ltd are a specialist Data Centre and Server Room cleaning Office (GIA) 464.0 4,995 offices company. The company have a number of contracts throughout the UK Mezz/Plant 214.7 2,311 including the UK’s largest data centre suppliers and FTSI 100 companies.