Industrial Investment For Sale

Clifton House, Brunel Way, Segensworth Industrial Estate , PO15 5TX

Premier South Coast business location

Secure income

Tenant recently signed lease renewal

£1,700,000, subject to contract

9.0% net initial yield Location Description

Fareham is a strategic south coast industrial location mid-way between The property, constructed in 1991 comprises a warehouse unit with two the major commercial centres of and in the storey offices which has been fitted out as a laboratory for the processing M27 corridor. The town is located approximately 8 km (5 miles) west of of contact lenses. The property is constructed of steel portal frame with Portsmouth and 16 km (10 miles) east of Southampton. brick and block cavity and steel profile clad elevations. In addition, the property provides 71 car parking spaces and a yard area. We understand The town has excellent communication links with access via Junctions the property is used by the tenant 24 hours a day, 7 days a week. 9, 10 and 11 of the M27 Motorway, the principal south coast transport link. The M27 is connected to the M3 Motorway approximately 9 miles to the west, the A3(M) approximately 18 km (11 miles) to the east. Accommodation

Major occupiers within the area include Tesco, Royal Mail, Coopervision, We understand that the property provides the following gross internal TNT, Estee Lauder and more. floor areas;

Southampton International Airport and Southampton Airport Parkway Warehouse 1,391 sq m 14,978 sq ft mainline railway station are situated approximately 13 km (8 miles) north-west of the town. Southampton Port is one of the UK’s largest Office 459 sq m 4,937 sq ft container ports handling over 34m tons of cargo per annum.

Situation Site

The subject property is situated on the established Segensworth We estimate the site area to be approximately 0.39 hectares (0.96 acres). Industrial Estate, one of the premier industrial and distribution locations on the M27. Clifton House is conveniently positioned on the southern Tenure side of Brunel Way, one of the main routes through the estate linking to the A27 dual carriageway link, providing access to Junction 9 of The property is held long leasehold from Hampshire County Council for the M27 approximately 1.6 km (1 mile) to the north. Fareham town a term of 125 years from 12th October 1989, expiring 11th October centre and railway station are approximately 5 km (3 miles) to the south east. Tenancies Guarantor

The property is entirely let to Sauflon CL Limited with a guarantee from Sauflon Pharmaceuticals Limited (Co. No. 1071033) has reported the Sauflon Pharmaceuticals Limited for a term of 10 years from 25th March following figures: 2013, expiring 24th March 2023 at a current passing rent of £162,000 per annum (£87.57 per sq m / £8.13 per sq ft). There is a tenant’s break option on 25th September 2018, subject to 9 months’ written notice. If the break 31st Oct 2011 31st Oct 2010 option is not exercised the tenant will benefit from a 9 month rent free Turnover £68,245,000 £56,436,000 period. The lease is subject to a minor Schedule of Condition. Pre-Tax Profits £5,908,000 £3,659,000 The property was previously let to Sauflon for a term of 21 years from 25th Shareholders’ March 1992, expiring on 24th March 2013. As a result of the recent lease £15,611,000 £12,986,000 renewal the tenant has been granted a 9 month rent free period, expiring Funds on 25th December 2013. The vendor will “top-up” the income in order that a purchaser does not suffer an income shortfall. Established in 1985, Sauflon is a privately owned global manufacturer of contact lenses and aftercare solutions. Sauflon is one of only four Covenant companies to manufacture both contact lenses and aftercare solutions with three manufacturing plants, sales offices in 10 countries and products Tenant sold in over 50 countries worldwide. At the recent annual Optician Awards, Sauflon beat competition from CIBA Vision and Johnson and Johnson Sauflon CL Limited (Co. No. 04237587) has reported the following figures: to have Clariti™ 1day toric crowned Contact Lens Product of the Year for 2012. For further information visit www.sauflon.co.uk. 31st Oct 2011 31st Oct 2010 Turnover £23,703,851 £14,277,773 Value Added Tax Pre-Tax Profits £865,872 £1,548,300 The property has been elected for VAT. It is anticipated that the sale of this Shareholders’ property will be treated as a Transfer of a Going Concern (TOGC). (£3,389,338) (£4,067,695) Funds (Deficit) Proposal Contact

We are instructed to seek offers in the region of Singer Vielle [email protected] , subject to 94-96 Wigmore Street [email protected] contract, reflecting a net initial yield of . London W1U 3RF [email protected] Tel: 020 7935 7200 [email protected] Fax: 020 7486 8511 [email protected] Investment Considerations www.singerviellesales.com Primmer Olds [email protected] 61 Cromwell Road Southampton Hampshire SO15 2JE Tel: 023 8022 2292 Fax: 023 8063 9319 www.primmerolds.co.uk

Vendor's Solicitor

Travers Smith [email protected] 10 Snow Hill [email protected] London EC1 2AL Tel: 020 7295 3283

Subject to Contract & Exclusive of VAT

Misrepresentation Act 1967 Property Misdescriptions Act 1991 Singer Vielle for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that: These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment. 1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, Concerning the Properties listed and/or appearing on the Site: nor constitute part of, an offer or contract 1. Under no circumstances shall we be liable to you for any direct, indirect, consequential, incidental or special damages arising 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are out of your purchase or lease of any Properties on the Site. given in good faith and are believed to be correct but any intending purchasers or 2. Under no circumstances shall we be liable for any errors or incompleteness of the information relating to any Property listed on tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise this Site or if any Property has been withdrawn from sale or lease nor shall we be responsible for any inaccurate dimensions of any as to the correctness of each of them. Properties or price listed. 3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in 3. Our website service permits you to enquire about and to purchase or lease Properties appearing on or listed on this Site. Such relation to this property. enquiries, purchase or leasing can only be made and permitted strictly subject to the terms and conditions set out below. 4. All maps are for identification purposes only and should not be relied upon for accuracy. 4. We do not accept responsibility or liability for the completeness or accuracy of information appearing on this Site which is pro- 5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject. Under vided by the Vendors or Lessors of the Property concerned who are solely responsible for such information. no circumstances shall Singer Vielle be liable to you for any direct, indirect, consequential, incidental or special damages arising 5. Whilst we believe that the Properties listed are available for purchase or lease we make no guarantee that this is the case or that out of your purchase or lease of any Property. they have not been withdrawn by the Vendor or Lessor of the same. All Properties appearing or listed on the Site are subject to Finance Act 1989 changes, errors or omissions. We have not verified the accuracy of the information relating to the Properties or any dimensions which Unless otherwise stated, all prices and rents are quoted exclusive of VAT. have been given by the Vendors or Lessors.