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Porsche Centre Bournemouth WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT

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Porsche Centre Bournemouth WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT Porsche Centre Bournemouth WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT SECURE, LONG-LET, INDEX-LINKED GROUND RENT INVESTMENT OPPORTUNITY Porsche Centre Bournemouth SECURE, LONG-LET, INDEX-LINKED GROUND RENT INVESTMENT OPPORTUNITY Oxford WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT Cirencester M25 A419 M5 M40 M1 M4 A429 Swindon A34 Maidenhead A40 M4 INVESTMENT SUMMARY M32 ChippenhamChippenham RReeadingading LONDON Bristol A33 A232 • Secure, long-let, indexed • A new 35,500 sq ft purpose • Porsche was the best performing M20 A36 A338 -linked ground rent investment built prestige car dealership brand in 2019 (sales up 22% YOY) A339 M25 Frome A331 opportunity let to Inchcape, and servicing facility under A371 BasingstokBasingstokee Guildford • Let to Inchcape Estates Ltd for AndoverAndover A22 a top UK automotive retailer construction by the tenant A303 a term of 100 years from 3rd A36 A31 M23 with PC due July 2021 M3 A3 • Prominent, corner location December 2019 with annual Crawley A303 just off the A31 Ferndown bypass • Site replaces the existing, RPI linked rent reviews Salisbury A23 which links Bournemouth to successful Porsche A272 • Initial rent of £110,000 per annum A350 A36 Ferndown and Poole, a short Bournemouth dealership A354 Yeovil distance away in Ferndown • Freehold M27 Southampton A3(M) M27 Brighton A31 A17 Portsmouthortsmouth FERNDOWN BYPASS A31 A338 COBHAM RD BournemouthBournemouth Isle FERNDOWN of Wight Weymoutheymouth LOCATION SAT NAV: BH21 7PT Gaunts Holt Heath FERNDOWN INDUSTRIAL SOUTHAMPTON The site is located at Ferndown just off Hilton Parva ESTATE (35 MIN DRIVE) the A31 Ferndown bypass providing Holt A31 COBHAM GATE DPD West Moors BUSINESS PARK BOURNEMOUTH direct access to Southampton, the M27, COBHAM RD and M3. The centre of Bournemouth A31 is 7 miles to the south with the centre A350 FERNDOWN WIMBORNE RD E Wimborne of Poole 7.5 miles to the south west Sturminster Minster WIMBORNE RD W Marshall – both of which trade will be drawn from. A31 A338 VULCAN WY PEARTREE BUSINESS CENTRE Ferndown itself is the largest town in West Parley A348 EAST DORSET East Dorset with an affluent demographic Broadstone TRADE PARK having 20% more ‘Higher and Intermediate A350 NIMROD WY Managerial’, ‘Administrative’ or ‘Professional’ Lytchett A3049 COBHAM RD WIMBORNE RD W households than the national average. Matravers A350 Ferndown Industrial Estate which is located A35 A338 to the rear of the site, is the largest industrial A350 A35 estate in Dorset extending to 190 acres. BOURNEMOUTH POOLE BOURNEMOUTH POOLE (20 MIN DRIVE) (22 MIN DRIVE) Cobham Gate Business Park is a new office and industrial development providing sites for D&B requirements. Note: The purchaser will receive right of way over the shared access road shaded grey. Porsche Centre Bournemouth SECURE, LONG-LET, INDEX-LINKED GROUND RENT INVESTMENT OPPORTUNITY WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT DESCRIPTION TENURE The site extends to c.1.2 hectares (c.3.0 The first floor mezzanine will have Freehold interest subject to a vendor buy- acres) and sits adjacent to the Peartree a further c.11,600 sq ft of showroom, back option for £1 after 100 years, or such Business Centre, accessed from office, consultation and customer longer period to be agreed. Cobham Road. The two storey, purpose welfare accommodation. There will be a built property will comprise c.35,500 sq 50-space car storage deck on the roof PEARTREE BUSINESS ft of accommodation, built to Porsche’s and the following parking onsite: 27 PEARTREE BUSINESS TENANCY CENTRE CAR PARKING CENTRE latest brand standard. Due to complete internal display, 23 external display, 27 The site is let to Inchcape Estates Ltd by July 2021, the ground floor will customer bays and 107 staff and service for a term of 100 years from 03/12/2019 include c.9,600 sq ft of showroom and spaces within a secure compound. expiring 02/12/2119 (99.5 years unexpired). ancillary offices together with c.13,400 The planning approved scheme can The stepped rent commenced at £55,000 sq ft of workshop accommodation. be viewed in the data room or on the per annum until 02/12/2020 rising to council’s website (application reference: £110,000 per annum thereafter. The rent 3/18/1510/FUL). will be topped up to £110,000 by the vendor. The rent is subject annual RPI linked rent reviews (1.0% collar & 3.5% cap) with the first review on 03/12/2021. INCHCAPE ESTATES LTD Inchcape Estates Ltd is a wholly owned subsidiary company of Inchcape PLC. Inchcape are one of the leading franchised retailer groups in the UK, partnering with many of the world’s top brands. They operate over 80 dealerships in the UK and employ around 5,500 staff. Inchcape Estates Ltd.’s latest accounts reported a turnover of £30.77m in 2018 and £42.74m of shareholder’s funds. Credit Safe credit-rating agency rate them ‘Secure’ and ‘86/100’ with a ‘0.9% likelihood of failure’. Inchcape PLC had a turnover of £9.37bn in 2019 and have shareholder’s funds of £1.27bn with a rating of ‘Secure’ and ‘92/100’ with a ‘0.9% likelihood of failure’. Porsche Centre Bournemouth SECURE, LONG-LET, INDEX-LINKED GROUND RENT INVESTMENT OPPORTUNITY WIMBORNE ROAD WEST | FERNDOWN | DORSET | BH21 7PT INVESTMENT CONTACT RATIONALE Access available upon request. • Defensive, secure inflation-linked income Charles Fletcher stream +44 (0) 78 3857 5063 • Over 99 years unexpired to one of the top [email protected] automotive franchise dealers in the UK • Passing rent is c.25% of the ERV for the site Adam Chapman • Prominent corner site with a mix of +44 (0) 79 1856 0870 commercial and residential land uses adjacent [email protected] • VP value substantially higher than the investment value • Initial yield provides a significant arbitrage over current UK Gilt rates U.K. 50 Year Gilt 09.06.2020 0.648% -0.024 1.0% PROPOSAL 0.5% We are instructed to seek offers 0.0% KnightFrank.co.uk Mar 20 Apr 20 May 20 Jun 20 in excess of £3,560,000 subject to contract and exclusive of VAT IMPORTANT NOTICE Source: Marketwatch.com 1. Particulars: These particulars are not an offer or contract, nor part of reflecting a Net Initial Yield of one. You should not rely on statements by Knight Frank LLP and Bilfinger GVA in the particulars or by word of mouth or in writing (“information”) 2.90%, assuming purchaser’s as being factually accurate about the property, its condition or its value. DATA ROOM Neither Knight Frank LLP and Bilfinger GVA has any authority to make costs of 6.7%. This would reflect any representations about the property, and accordingly any information the following income yield profile given is entirely without responsibility on the part of the agents, seller(s) Access available upon request. or lessor(s). 2. Photos etc: The photographs show only certain parts (assuming RPI growth at 2.75%): of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property Dec 2024 – 3.23% does not mean that any necessary planning, building regulations or VAT other consent has been obtained. A buyer or lessee must find out by Dec 2029 – 3.70% inspection or in other ways that these matters have been properly dealt It is anticipated that the sale will be treated as a with and that all information is correct. 4. VAT: The VAT position relating Dec 2034 – 4.23% to the property may change without notice. Particulars dated: August Transfer of a Going Concern (TOGC) and 2016 Photographs dated: 2016. Knight Frank LLP is a limited liability Dec 2039 – 4.85% partnership registered in England with registered number OC305934. therefore, no VAT will be payable on the Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. June 2020. purchase price. Dec 2044 – 5.55% carve-design.co.uk 14734/7.
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