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Regional Mail Centre Breakwater Road, Plymouth PL9 7XX

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Regional Mail Centre Breakwater Road, Plymouth PL9 7XX Regional Mail CentRe BReakwateR Road, PlyMouth Pl9 7XX LONG DATED UNDOUBTED INCOME ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX INvEsTMENT sUMMARy n This Regional Mail Centre comprises three separate buildings; a purpose built Sorting Centre/delivery office, a Call Centre and a Vehicle Maintenance unit totalling 199,130 Sq ft (18,500 Sq m). n All the buildings are mission critical to Royal Mail’s operation in the South west. n A substantial self-contained site that benefits from excellent access to Plymouth City centre and the a38. n The Mail Sorting Centre/delivery office comprises a purpose built distribution warehouse constructed in 1999 benefiting from an 8m minimum eaves height, a secure yard area and two storey office accommodation. n Let to Royal Mail group limited on leases expiring on the 5 March 2032, hence an unexpired term of just under 15 years. n The Royal Mail is the principal postal service company in the united kingdom. Royal Mail group limited has a dun & Bradstreet credit rating of 5a1. n Current rent of £1,205,096 pa, reducing to £1,095,099 pa on 20 March 2020, with a fixed increase to £1,209,077 pa on 20 March 2025, followed by an open market rent review on 20 March 2030. n The Sorting Centre covers west devon & Cornwall and the delivery office serves Plymouth City Centre and surrounds. n The property offers substantial long term development potential to take advantage of adjoining marina facilities and surrounding residential areas. n Offers are sought in excess of £17,350,000 (seventeen Million, Three Hundred and Fifty Thousand Pounds), representing a net initial yield of 6.50%, based on acquisition costs of 6.74%. ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX MINEHEAD A39 EXMOOR NATIONAL PARK BRIDGE WATER BRISTOL CHANNEL BARNSTAPLE M5 TAUNTON A361 LOCATION A39 WELLINGTON A303 Plymouth is the largest city in the South west of england on the border of A377 A386 M5 A30 Cornwall and devon. A39 A35 A30 it has excellent road communications both from the a38 and the a30 dual EXETER EXETER carriageways providing access to the national motorway network at junction LAUNCESTON A395 A386 EXMOUTH DARTMOOR A380 31 of the M5 motorway at exeter. NATIONAL PARK A39 A30 A388 A38 there are direct rail services from london Paddington (approximately 3 TORQUAY A386 A385 hours 20 minutes), Bristol temple Meads (approximately 2 hours) and exeter NEWQUAY A30 A38 A391 PLYMOUTH (approximately 55 minutes). Plymouth is home to Brittany Ferries providing DARTMOUTH ferries to Roscoff in France and Santander in Spain, the torpoint and Cremyll A39 PLYMOUTH Ferries provide direct links to Cornwall. TRURO A39 ENGLISH CHANNEL FALMOUTH exeter international airport is approximately 50 minutes’ drive away; this has PENZANCE major flights to a number uk cities, europe and north america. Plymouth is the centre of tourism in devon and Cornwall with over £330 million spent annually and in excess of 8 million tourist days generated. there is a resident population of 245,000 and a primary retail catchment of 457,000, which ranks Plymouth 19th in the uk on this measure. Plymouth is one of the finest harbours in europe, and its superb waterfront location provides extensive opportunities for a wide range businesses. over the last decade there has been significant inward investment into a number of major waterside developments including Millbay, Sutton harbour, Royal william yard, and South yard that have all significantly improved the Cities overall offer. For further information please go to http://www.visitplymouth.co.uk/invest ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX PEVERALL . PLY D MOUTH R R D. CRABTREE HOME PARK D A D PAR E E V M O K A N R N E sITUATION D N X . A P MERAFIELD RD M IRA RD. R A LA E L S the property is situated on Breakwater industrial estate approximately M MANNAMEAD LD S O W A . A D Y R R 2 miles (3.2 kilometres) east of Plymouth City Centre in an established ALEXANDRA D A . 3 8 mixed commercial / residential area on Breakwater Road to the south of D. R L IL Billacombe Road (a379). H T ENT H O M T T SA R H NK O L I T L A N BA S L the area benefits from excellent access to the City Centre and the a38, by H M R A E D V . E way of the a374 dual carriageway, that provides the perfect base for Royal . PLYMOUTH Mail to service the City and beyond. BI UNION ST. AY LL IA W A N CO THE CRESENT GDY M Royal Mail has over 35 regional Mail Centres, 8 Regional distribution B BILLACOME E R BILL PLYMOUTH D. ACO MB Centres and around 1,350 delivery offices. each Mail Centre serves a large E R D . geographically defined area of the uk and together they form the backbone POM CATTEDOWN PH ELB LE UR ROYAL MAIL CENTRE T TO of the mail and distribution operation. the Plymouth Mail Centre serves all T N R R D. D . ANBORO the “Pl” postcodes, which incorporates a significant area including west ST UGH RD. devon and east Cornwall, with the nearest alternative Mail Centres being MOUNT BATTEN situated in truro and exeter. abutting the property is yacht haven Quay, which is one of the region’s leading marinas and boat yards, and it houses one of europe’s largest dry stack boat storage facilities. the Quay is home to numerous other marine related industries, and other amenities include a restaurant, shower blocks, boat sales and numerous sailing schools. Major occupiers in the area include Morrisons, the Range, aggregate industries, Macdonalds, honda, Sugar Mill Retail Park, howdens and aRC. Subject to necessary planning consents the property offers substantial long term development potential to take advantage of adjoining marina facilities and surrounding residential areas. ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX Subject Property Morrisons Sugar Mill Retail Park Yacht Haven Quay Yacht Haven Marina Mount Batten Peninsula Laira Bridge Retail Park Aquarium Royal Citadel Friary Retail Park Sutton Harbour The Barbican The Hoe Drakes Circus New George Street Plymouth University Derrys Cross ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX DEsCRIPTION the property is one of Royal Mail’s principal Regional Mail Centres, and is one of the largest employers in the area with over 1000 staff employed from this facility; all the buildings are mission critical to Royal Mail’s operation on this site. this Regional Mail Centre comprises three separate buildings; a purpose built Sorting Centre/delivery office, a Call Centre and a Vehicle Maintenance unit, situated on a self-contained site of 20.69 acres (8.37 hectares) providing a very low site density of just 22%. sORTING CENTRE/DELIvERy OFFICE the property comprises a detached purpose built distribution warehouse with ancillary offices that was constructed in 1999 that totals 134,589 sq ft (12,504 sq m). the warehouse currently houses a range of sorting machines for the sorting and despatch of letters and parcels. the property benefits from the following specification: n A steel portal frame construction with profile steel cladding. n A clear eaves height to the underside to the haunch is approximately 8m (26.2 ft) n 11 loading doors including 10 dock level loading doors. n A canopy area with three entry level loading doors. n Halogen lighting, gas fired warmer heaters, and a minimum floor loading capacity of 30kn/m2 and a wet pipe automatic sprinkler head system in the warehouse areas. n The warehouse includes a substantial mezzanine floor that houses the existing plant and machinery. n Offices, staff canteen, male and female toilets, and gym arranged over ground and first floors. n Substantial staff car parking spaces. n Externally, the site benefits from extensive yard area on both sides of the building providing parking for hgVs / vans as well as loading and circulation space. there is also an hgV refuelling station. n The offices have a reception area, aluminium framed double glazed windows, passenger lift, air-conditioning and raised floors at first floor and suspended ceilings. n The site is secured with palisade fencing and access is via a gated security hut. ROyAL MAIL, REGIONAL MAIL CENTRE, BReakwateR Road, PlyMouth Pl9 7XX THE CALL CENTRE the original call centre building was built in 1980 and was comprehensively refurbished and extended in 1990. the building comprises a single storey call centre containing offices, a canteen and warehouses facilities that totals 49,416 sq ft (4,591 sqm) the main office area is made up of a call centre and benefits from the following specification: n Steel frame design, with concrete clad columns, large coloured glass window units set within metal frame fenestration, beneath a steel profile clad roof. n Solid concrete floors. n Air conditioning and suspended ceilings to the main office areas. n Meeting rooms, staff canteen, male and female toilets and locker rooms. n To the rear of the property there is the comms area and warehouse facility that is accessed via a single roller shutter door and is covered by a canopy. THE vEHICLE MAINTENANCE UNIT the Vehicle Maintenance unit was originally built in 1980 as a purpose built repair centre and later refurbished in 1989 that totals 15,126 sq ft (1,405 sq m). the building comprises workshop facilities for the repair and maintenance of Royal Mail’s fleet and houses numerous vehicles ramps. the property benefits from the following specifications: n Steel frame construction with solid concrete floors, brick and glass cladding under a flat sheet metal roof.
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