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Moxon Way, Moor Lane Trading Estate, Sherburn in Elmet, Leeds Ls25 6Es

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Moxon Way, Moor Lane Trading Estate, Sherburn in Elmet, Leeds Ls25 6Es MOXON WAY, MOOR LANE TRADING ESTATE, SHERBURN IN ELMET, LEEDS LS25 6ES LONG LET INDUSTRIAL INVESTMENT WITH FIXED RENTAL UPLIFTS MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES A1(M) 3.5 MILES MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES INVESTMENT SUMMARY Sherburn in Elmet is strategically located close to Current rent passing of £695,000 per annum (£2.74 psf) Junction 42 of the A1(M) offering excellent access to Fixed Rental Uplifts every five years with rent rising to the national motorway network £805,695 per annum in 2020 and £934,021 per annum Moor Lane Trading Estate is a traditional industrial in 2025 estate to the east of Leeds and it is one of Yorkshire’s Freehold most prominent distribution parks with notable occupiers including Sainsbury’s, Eddie Stobart, Offers sought in excess of £9,650,000 (Nine Million Debenhams and Legal & General (Modular Homes) Six Hundred and Fifty Thousand Pounds) reflecting an attractive net initial yield of 6.75% and the following Detached distribution hub extending to a gross running yield profile assuming purchaser’s costs at 6.69%: internal area of 253,352 sq ft (23,537.1 sq m) 2020 - 7.83% The site comprises 12.15 acres (4.91 hectares) 2025 - 9.07% Let entirely to Esterform Packaging Limited for A purchase at this level reflects a low capital value of a further 12 years £38 psf. MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES A162 LOCATION Sherburn-in-Elmet 1222 B MOORE LANE B1222 BISH OPDYKE ROAD LOCATION SHERBURN-IN-ELMET 22 2 SHERBURN 1 B INDUSTRIAL Micklefield AREA 2 6 1 A eeds is Yorkshire’s principal financial centre A1(M) SHERBURN AERO CLUB benefiting from a catchment population of approximately 1.3 million people. Leeds is well L South Milford located at the centre of the northern motorway network sitting immediately to the north of the intersection of the M1 (J42) and M62 (J27 and J29) MILFORD Motorways, being linked via the M621. It is located GR Y E o AT rk approximately 35 miles (56 km) north of Sheffield, N s O h R ir T A1(M) e H D R al 44 miles (71 km) north east of Manchester and 194 O es A N D ati D on miles (312 km) north of London. A al O Pa R rk Au W th The East Coast Mainline offers regular connections A90 E or N 2 ity 6 1 from Leeds to London Kings Cross in approximately A M90 2 hours 12 minutes. J42 GLASGOW HARROGATE EDINBURGH SKIPTON YORK A6 3 MA IN STREET M74 D ROA WETHERBY A1 A63 MAIN * A1(M) TADCASTER DRIVE TIME A69 BINGLEY NEWCASTLE Longridge NELSON SHERBURN A1 (M) M65 IN ELMET A66 LEEDS A19 BRADFORD M1 LEEDS 18 MILES 30 MINS BURNLEY M621 ACCRINGTON M606 A1(M) SHEFFIELD 42 MILES 55 MINS YORK BLACKBURN M6 LEEDS HALIFAX CASTLEFORD M62 HULL MANCHESTER DARWEN HULL 53 MILES 60 MINS A1 (M) M62 M1 M62 WAKEFIELD LIVERPOOL SHEFFIELD MANCHESTER 61 MILES 84 MINS M66 HUDDERSFIELD A1 M1 ROCHDALE M6 NEWCASTLE 99 MILES 1 HR 48 MINS M62 BOLTON LEICESTER BARNSLEY LIVERPOOL 91 MILES 1 HR 53 MINS BIRMINGHAM OLDHAM A6 M61 A1(M) COVENTRY A14 M60 M1 DONCASTER LONDON 193 MILES 3 HR 45 MINS M1 NORTHAMPTON M11 ASHTON-UNDER-LYNE M50 A1 (M) M40 A12 MANCHESTER DOVER M25 260 MILES 4 HR 32 MINS CARDIFF M60 M67 GLOSSOP M18 BRISTOL LONDON A1(M) M4 M2 SALE M5 M3 M25 M20 DOVER STOCKPORT M23 WARRINGTON P FOLKSTONE ea k D SHEFFIELD SOUTHAMPTON ist M58 Manchester ric *Approximate drive times International t N Airport at ion M6 al P ark MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES CONNECTION CAR 5 minutes from Junction 42 of the A1(M) RAIL 5 minutes from East Coast Mainline freight access at Yorkshire Rail Hub PORTS Ports of Hull, Grimsby and Immingham are within 1 hour HGV drive time PLANE 45 minutes from Leeds Bradford Airport and Doncaster Sheffield Airport SITUATION The property is situated off Moxon Way on Moor Lane Trading Estate. The property is adjacent to Sherburn Distribution Park which is a key distribution hub for companies including Sainsbury’s, Debenhams, DHL, Eddie Stobart and Kingspan. The estate is one mile outside of Sherburn in Elmet and convenient for a workforce travelling by car or rail. The site is located in an excellent location benefiting from congestion-free access to the national motorway network via junction 42 of the A1(M), which is only 3.5 miles (5.6 km) away via the A63 and A162. MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES The property comprises a single storey warehouse/ The office accommodation is carpeted, heated, and industrial facility together with two storey office benefits in parts from air conditioning. A canteen DESCRIPTION accommodation constructed in phases. and staff facilities are also provided. The building is of steel portal frame construction with Externally there is a large concrete service yard brickwork and profile metal sheet elevations. The roof is surrounding the property which provides 360 degree formed of a mixture of steel and asbestos cladding with access around the building. The entire site is fenced integrated roof lights. and benefits from a security gatehouse barrier at The industrial element has a height of 5.5 – 7.5 metres the entrance. to the underside of the haunch. The warehouse is heated, The property sits on a site extending to 12.15 acres sprinklered and lit with energy efficient T5 lighting. (4.91 hectares) providing a site cover of 48%. Loading is via 18 ground level roller shutter doors. MOXON WAY, MOOR LANE TRADING ESTATE SHERBURN IN ELMET, LEEDS LS25 6ES COVENANT Esterform Packaging Limited Company Registration Number 03627281 Esterform Packaging Limited was established in 1999 and its principal business is the manufacture and distribution of plastic containers and PET preforms. Esterform customers include a wide range of household names in the beverage, food and household markets including Britvic, Highland Spring and Innocent in addition to a number of smaller brands and trade fillers. In February 2015 the company acquired Constar UK, who formerly occupied the subject property. This acquisition together with that of Able Industries Ltd in 2001 and Pet Plas Packaging Ltd in 2005, means Esterform has grown to become the UK’s largest independent converter of PET with a wide range of customers in different sectors. The acquisition of Constar UK together with a recent investment of £8 million by Esterform into state of the art manufacturing technology will take the group’s overall capability from 1.5 billion PET preforms and containers to in excess of 3 billion units. The subject property is used for warehousing and distribution. Esterform Packaging Ltd reported the following results over the last three years: 30/09/2017 30/09/2016 30/09/2015 Turnover £76,591,000 £61,986,000 £72,647,000 Pre-Tax Profit -£111,000 £191,000 £5,853,000 Total Net Worth £7,665,000 £8,127,000 £7,454,00 ACCOMMODATION TENANCY We have been provided with the following areas by the vendor and The property is let to Esterform Packaging Ltd on full repairing and understand them to be as follows: insuring terms. The term commenced on 28 August 2015 with expiry on 27 August 2030 providing an unexpired lease term of approximatively Accommodation Sq M Sq Ft 12 years term certain. Warehouse 21,516.6 231,603 The current rent passing is £695,000 pa, which equates to £2.74 psf. Offices 1,513.6 16,292 The rent increases every fifth anniversary reflecting 3% pa compounded. The next rent review is in August 2020 where the rent is set to increase External Workshop 506.9 5,457 to £805,695 pa. There is a further rent review in August 2025 where the Total 23,537.1 253,352 rent is set to increase to £934,021 pa. There is a schedule of condition attached to the lease. TENURE Freehold VAT The property is elected for VAT and it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). EPC The property has been rated grade C(72). The EPC is available in the dataroom. DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/sherburn PROPOSAL Offers sought in excess of £9,650,000 (Nine Million Six Hundred and Fifty Thousand Pounds) reflecting an attractive net initial yield of 6.75% and the following running yield profile assuming purchaser’s costs at 6.69%: 2020 - 7.83% 2025 - 9.07% A purchase at this level reflects a low capital value of £38 psf. For further information or to make arrangements for viewing please contact: Alex Butler Jonathan Butcher Ronnie Morgan Chris Riley Miles Youdan 020 7543 6722 020 7543 6755 020 7543 6808 0113 244 2001 0113 244 2001 [email protected] [email protected] [email protected] [email protected] [email protected] www.allsop.co.uk www.rypartnership.co.uk Misrepresentation Act: 1. Allsop LLP and RY Partnership on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and RY Partnership 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 instructing party does not make or give, and neither Allsop or RY Partnership nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property.
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