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Units 1-7 & 44-50 Melford Court Hardwick Grange

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Units 1-7 & 44-50 Melford Court Hardwick Grange UNITS 1-7 & 44-50 MELFORD COURT HARDWICK GRANGE, WARRINGTON, WA1 4RZ UNITS 1-7 & 44-50 MELFORD COURT • HARDWICK GRANGE, WARRINGTON, WA1 4RZ Investment Summary Reversionary north west multi-let industrial estate Located in Warrington’s established Woolston Grange Industrial area Excellent road communications being situated in close proximity to Junction 21 of the M6 Motorway Comprises 12 light industrial units and one last mile mid-box logistics unit totalling 114,107 sq ft Let to 9 tenants, producing a total current passing rent of £577,426 per annum (only £5.06 psf overall) Attractive WAULT of approximately 6.5 years to expiries and 4.6 years to breaks Numerous asset management opportunities Freehold We are instructed to seek offers in excess of £9,020,000 (Nine Million and Twenty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect an attractive net initial yield of 6.00% assuming purchaser costs of 6.68%. This represents a low capital value of only £79 psf. E D N R A N L O T K G C Culcheth N I I R H W R O N A L I W C R W OF T LA M6 NE E N A L AW H H E S A IG T W H L A N E E E AN N L A RD L A B ST 5 K U 2 C M I 12 W IN W 22 D R MANCHESTER & M60 D R N K O T N I G L N E K I N R C I A R W L A N Y W I Croft NE C H W L R W A O N SS 11 T E L I A N M E S Y A W DE OD REVERSIONARY NORTH WEST MULTI-LET INDUSTRIAL ESTATE LPH WO LANE CH M IR IL B 21a L VE H N A OU M62 ATE SE D LA N E 10 Birchwood Park 9 4 A 10 Location Distance Time M62 M I L 9 L E V L D PARK R E A N L OA C LIVERPOOL IE D AN Manchester 17 miles 30 mins F RDN N O E 21a Liverpool 23 miles 40 mins Y Location A A 4 W Birchwood 9 CRAB LA D NE O O Stoke-On-Trent 37 miles 40 mins W M6 H C R Warrington is located in the North West of England BI Roads Distance Time ANE in Cheshire. It is an established industrial and LL L NHA B AR L FE M6 / J21 1.5 miles 4 mins A D Birchwood logistics location due to its excellent connectivity C LL R K SA B IN W R OO O LST and it being ideally located between Liverpool and M62 / J10 4.5 miles 8 mins O ON A K A 4 9 D V E G A R Manchester. This strategic location has led to a strong N O AN M56 / J9 5 miles 8A5 mins R U G 0 N E E E A D V L E industrial market which in turn has led to increasing I H development activity, notably Omega Park. Airports / Ports Distance Time Padgate M6 Manchester Airport 14 miles 20 mins GR EEN L The town benefits from excellent road communication,Blackpool ANE M55 Liverpool Airport 22 miles 30 mins A with access to the M6, M62 and M56 Motorways, which 4 Burnley 9 Woolston PrestoPortn of Liverpool M65 25Accrington miles 40 mins 21 provides further access to the national motorway A ROAD 5 HESTER Blackburn 0 A57 MANC Lytham St Anne's Halifax network. A57 MANCHE STER ROAD Leyland Rawtenstall Darwen Regular train services to Southport Chorley Rochdale Manchester (34 minutes), M62 Liverpool (43 minutes) and M6 M61 Bury M66 Ormskirk Bolton Skelmersdale London Euston (1 hour 44 Formby Situation Wigan Middleton minutes) run out of the four M60 Oldham M58 M60 Warrington Stations, Warrington Melford Court is situated to the east of Warrington, Bank Quay, Warrington Central, Crosby Kirkby MANCHESTER in the well-known industrial and employment area of Bootle M6 M62 Padgate and Birchwood. PORT OF LIVERPOOL St Helens Woolston Grange which covers some 200 acres. Wallasey LIVERPOOL 21A/10 M62 Sale M60 21 Stockport Units 1-7 & 44-50 Melford Court sit in the heart of this Warrington also benefits Birkenhead WARRINGTON Altrincham Cheadle area and is accessed via Hardwick Grange Road. Widnes M56 MANCHESTER 20A/9 from access to the airports Runcorn M53 Wilmslow LIVERPOOL of Manchester and Liverpool Knutsford Junction 21 of the M6 is located approximately Frodsham and the deep-water Port of Ellesmere Port M56 1.5 miles to the south and provides easy access to M6 Liverpool, which was recently Northwich Macclesfield both the South and North of England. The M6/M62 announced as one of the eight and M6/M56 interchanges lie one junction either side CHESTER new freeports to be located in of Junction 21 of the M6. England. Congleton Sandbach The location’s immediate access to the motorway Biddulph Crewe Leek Kidsgrove network has attracted many notable occupiers such Nantwich as XPO, Hermes, DHL and Iceland. Wrexham STOKE-ON-TRENT Newcastle-under-Lyme UNITS 1-7 & 44-50 MELFORD COURT • HARDWICK GRANGE, WARRINGTON, WA1 4RZ Junction 21 of the M6 is located approximately 1.5 miles to the south with the M6/M62 and M6/M56 interchanges M6 lying one junction either side of Junction 21. J21 M6 REVERSIONARY NORTH WEST MULTI-LET INDUSTRIAL ESTATE Description The subject property comprises of two terraces of light industrial accommodation along with a stand-alone last mile logistics unit. The estate is currently configured as 13 units. Units 1-7 & 44-49 – Is made up of two separate terraces, currently comprising of seven and five units respectively, built in the early 1980’s. Both terraces are of a steel portal frame construction and offer eaves heights of up to five metres. Each unit benefits from at least one roller shutter level access door and their own demised yard areas and parking. Unit 50 – Comprises a stand-alone warehouse unit of an early 1980’s steel portal frame construction. The unit benefits from an eaves height of six metres and three level access doors with its own secure yard, with separate access to car parking. The unit also benefits from first and second floor office accommodation. It has recently undergone a comprehensive refurbishment completed in 2021. Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice (Sixth Edition) and provides the approximate gross internal floor area of 114,107 sq ft (10,600.9 sq m). Site The site is L shaped, extending to approximately 6.46 acres (2.6 hectares) providing a low site density of approximately 41%. Tenure Freehold. UNITS 1-7 & 44-50 MELFORD COURT • HARDWICK GRANGE, WARRINGTON, WA1 4RZ Tenancy Schedule The estate is let to nine tenants on 12 separate FRI leases, with unit seven’s office accommodation currently vacant and available to let. The estate provides a total passing rent of £577,426 per annum reflecting a low average passing rent of £5.06 psf. It benefits from an attractive WAULT of 6.5 years to expiries and 4.6 years to breaks. Units Area Area Tenant Lease Lease Breaks Rent Rent pa Rent WAULT to WAULT to S of C Act Comments sq m sq ft Start End Reviews psf Expires Breaks The tenant has been on the estate since 1&2 1,552.7 16,713 Lyreco (UK) Ltd 26-Oct-16 25-Oct-21 £75,000 £4.49 0.6 yrs 0.6 yrs Yes Inside 2006. The 2019 break not exercised. Innovation First 3 793.2 8,538 14-Sep-19 13-Sep-24 £40,555 £4.75 3.4 yrs 3.4 yrs Yes Outside First took occupation in 2015. International (UK) Ltd Innovation First 4 723.2 7,784 14-Sep-19 13-Sep-24 £36,974 £4.75 3.4 yrs 3.4 yrs Yes Outside First took occupation in 2003. International (UK) Ltd Westbrook Welding 5 723.0 7,782 01-Apr-17 31-Mar-22 £37,500 £4.82 1.0 yrs 1.0 yrs No Inside First took occupation in 2003. Alloys Ltd Innovation First 6 722.6 7,778 14-Sep-19 13-Sep-24 £36,945 £4.75 3.4 yrs 3.4 yrs No Outside First took occupation in 2009. International (UK) Ltd Innovation First 7 (Warehouse) 904.4 9,735 14-Sep-19 13-Sep-24 £46,250 £4.75 3.4 yrs 3.4 yrs Yes Outside First took occupation in 2010. International (UK) Ltd The unit came back in Feb-21, and is 7A (Offices) 273.4 2,943 Vacant currently being marketed. Polar Speed Guarantor from UPS (UK Holdings) Ltd. 44-45 613.3 6,602 21-Nov-17 20-Nov-27 20-Nov-22 21-Nov-22 £37,000 £5.60 6.6 yrs 1.6 yrs No Inside Distribution Ltd 6 months notice on break. First took occupation in 2009 46 324.3 3,491 Bracknell Roofing Ltd 22-Oct-19 21-Oct-24 21-Oct-22 £19,500 £5.59 3.5 yrs 1.5 yrs Yes Inside 6 months notice on break. Three months rent deposit held (£8,625 47 485.8 5,229 Corroventa Ltd 05-Nov-20 04-Nov-25 £28,750 £5.50 4.6 yrs 4.6 yrs No Outside incl VAT). Fixed increase from £14,375 to £28,750 on 05/07/2021 - Vendor to top-up.
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