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Cummins Limited Columbus Avenue | Manston Business Park | Ramsgate | Ct12 5Bf

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Cummins Limited Columbus Avenue | Manston Business Park | Ramsgate | Ct12 5Bf 1 CUMMINS LIMITED COLUMBUS AVENUE | MANSTON BUSINESS PARK | RAMSGATE | CT12 5BF SOUTH EAST WAREHOUSE AND DISTRIBUTION UNIT COLUMBUS AVENUE 2 ESTABLISHED DISTRIBUTION LOCATION EXCELLENT ACCESSIBILITY TO 3 PRIMARY CHANNEL PORTS 100% LET TO 5A2 COVENANT LOW CAPITAL VALUE OF £43.70 PSF INVESTMENT SUMMARY High specification distribution warehouse located on Let in its entirety to Cummins Ltd until 19 December 2021 We have been instructed to seek offers for the freehold the established Manston Business Park interest in excess of £7,870,000 (Seven million eight Unexpired term of 1.9 years hundred and seventy thousand pounds), subject to Strategically situated with excellent accessibility to Cummin’s covenant rated 5A2 by Dun & Bradstreet, contract and exclusive of VAT. ports at Ramsgate, Dover and Folkstone as well as the with turnover in 2018 of £2.41bn M2 motorway via the A299 A purchase at this level reflects a net initial yield of 10.00% Low current passing rent of £839,370 per annum, and an attractive capital value of £43.70 psf assuming Freehold reflecting a low average rent of £4.66 per sq ft standard purchaser’s costs of 6.67%. Total floor area of 180,021 sq ft (GIA) Highly reversionary, estimated rental value in excess of £5.00 per sq ft YORK LEEDS BRADFORDBRADFORD HUDDERSFIELD DONCASTERDONCASTER MANCHESTER ROTHERHAROTHERHAMM LIVERPOOL SHEFFIELD MACCLESFIELD CHESTERFIELD M6 LILINCOLNN COLCOL N MANSFIELD M1 LEEK CREWE ALFRETON NEWNENEWARD-ON-TRENTW A R D -ON - T REN T HUCKNALL ASHBOURNE SSTOKE-ON-TRENT OKE-ON-T REN T DENBY NOTNONOTTINGHAT T I N GHA M M1 DERBY G RANTHAM LONG EATON M6 BURTON UPON TRENT STANFORD MELTON LOUGHBOROUGH MOWBRAY M1 CANNOCK LANGHAM LICHFIELD STAMFORD M54 M6 TOLL TTAMWORTHA MWORTMWORT H LEILELEICESTERI C EST E R WOLVERWOLVERHAMPTONH AMPTOAMPTO N WWALSALA LSALL SUTTON COLDFIELD M42 M69 PEPETERBOROUGHT ERBOROUERBOROU G H HINCKLEY DDUDLEYU D LEY B ROMWROMROMWICHW ICH NUNEATON M6 B IRMIIRMINGHANGHNGH A M CORBY M1 M6 STOURBRIDGE A1 (M) M42 M6 CCOVENTRYOVE N TRY K ETTERING KIDDERMINSTER SOLSOSOLIHULL I H U L L RRUGBU GBY M42 M40 HHUNTINGDONU N TINGDON M45 REDREDDITCHD ITC H RUSHDEN M5 ROYAROYA L LELEAMINGTOA MIN G T O N DAVENTRY M1 SPA NORTHAMPTONNORTHAMPTON ST NEOTS 14 13 WORCWORCESTERE S TER CAMBRIDGECAMBRIDGE STRATFORD-UPON-AVON OAKLEY BRADFIELD M11 ST CLARE 11 BEDFORDBEDFORD GREAT TOWCESTER SANDY MALVERN M40 M1 KEMPSTON EVESHAM NEWPORT 10 PAGNELL BIGGLESWADE BANBURY 14 9 MILTON ROYSTON M1 KEYNES SHEFFORD SUDBURY 13 HENLOW SAFFRON M50 12 WALDEN 10 BUCKINGHAM 9 HITCHIN HALSTEAD LEIGHTON M11 BUZZARD A1(M) CHELTENHAM B ICESTER STEVENAGESTEVENAGE 11 7 COLCHESTER LUTONLUTON B ISHOP’S 8a GREAT B RAINTREE GLOUCESTER STORTFORD 8 DUNMOW WOODSTOCK 10 9 AYLESBURYAYLESBURY WARE SAWBRIDGEWORTH WELWYN WITHAM M5 GARDEN CITY HERTFORD M1 4 HARLOW HEMEL HATFIELD HODDESON OXFORDOXFORD HEMPSTEAD 8 ST ALBANS 3 M11 7 A1(M) 7 CHELMSFORD 1 CIRENCESTER 21 22 6 20 WALTHAM EPPING M25 19 23 24 25 ABBEY M40 AMERSHAM 26 27 5 FARINGDON ABINGDON WATFORD 18 BARNET ENFIELD M25 CHEPSTOW LOUGHTON HIGH 4 WYCOMBEWYCOMBE 17 3 BRENTWOOD 2 WICKFORD NEWPORT 4 M1 28 3 M4 1 DIDCOT M40 PINNER M48 MALMSBURY 2 M4 GERRARDS 22 CROSS 29 BASILDON 15 16 1 20 16 16 SWINDON HENLEY-ON-THAMES SOUTHEND-ON-SEASOUTHEND-ON-SEA M49 17 M4 15 COLUMBUS AVENUEMAIDENHEAD UXBRIDGE M25 3 19 17 SLOUGH M25 18a 1 18 8 7 LONDON 9 6 15 M32 5 4 3 2 30 19 WINDSOR 14 2 HOUNSLOW M5 CHIPPENHAM MANSTON 14 13 READING BRISTOL M4 1 20 DARTFORD BUSINESS 12 13 SHEERNESS HEERNESS 10 MARLBOROUGH BRACKNELL 2 HUNGERFORD M4 1 PARK LOCATION11 WOKINGHAM NEWBURY ASCOT 12 1 MARGATEMARGATE BATH 3 MELKSHAM 11 2 Manston BusinessCROWTHORNE Park is located approximately WEYBRIDGE6 miles CROYDON A28 21 DEVIZES 3 A299 KENT PEWSEY west of Ramsgate, 30 miles north east of Ashford and 4 M20 SITTINGBOURNE INTERNATIONALINTERNATIONAL CAMBERLEYC AMBERLEY 3 A299 RAMSGATE TROWBRIDGE M2 5 75 miles east of London. M3 WOKING 10 M25 A28 4 4 A249 M25 3 FARNBOROUGH 9 M26 2a 6 M2 7 5 7 A2 CANTERBURY TheBASINGSTOKEBASINGSTOK Park 5offersE excellent accessibility to the Channel S EVENOAKS M3 MAIDSTONE 6 8 Ports of Ramsgate (6 ALDERSHOTmiles), Dover (19 miles) and Folkstone M25 FROME GUILDFORD A256 22 (24 miles). The Port of Dover is Europe’s busiest ferry port, WELLS WARMINSTER ANDOVER FARNHAM M20 8 A28 handing in excess of £119 billion of trade equating to TONBRIDGE A229 17% of the UK’s trade in goods. GODALMING M23 A2 23 ASHFORDASHFORD GLASTONBURY 9 ROYAL 9 TUNBRIDGE 10 10 Manston is well connected by road being located WELLS DOVER M3 approximately 20 miles east of the M2 (J7) which is accessed CRAWLEYCRAWLEY M5 9 WILTON SALISBURY directly via the A299 dual HASLEMERcarriageway.E To the south east, 11 FOLKESTONE A21 WINCHESTER the A28 connects with the M20 (J9). These routes provide A2070 11 distributors and manufacturers with important links A259 SHAFTSBURY betweenPETERSFIELD the Ports, London and the wider UK. 13 EASTLEIGH STALBRIDGE M271 4 14 Ramsgate railway station is located approximately 5 YEOVIL 2 3 5 1 7 miles east of Manston Business Park and provides a M27 SOUTHAMPTONSOUTHAMPTON direct service2 to London St Pancras International with an 8 CREWKERNE approximate3 journey time of 1 hour 15 minutes. It benefits CHARD 9 HASTINGS HYTHE HAVANT from access4 to Southeastern’s high speed rail line, the 10 11 ARUNDEL BRIGHTON Eurostar’s12 departures and arrivals are serviced at Ashford PORTSMOUTH BEAMINSTER International. WORTHING EASTBOURNE GOSPORT B OGNOR REGIS LYMINGTON COWES The major London airports of Heathrow, Stansted and Not to scale. Indicative only. Gatwick are all withinSELSEY a 100 mile radius of the Park. Kent LYME REGIS POOLE International Airport is situated to the south east of the BOURNEMOUTH NEWPORT property. In 2019, RiverOak Strategic Partners bought the BEMBRIDGE airport for £16.5 million. The new owners intend to re-open ISLE OF WIGHTWIGHT the airport in the spring of 2022 for short haul and cargo WEYMOUTH flights. SWANAGE DRIVING DISTANCES: RAIL (Ramsgate Station): PORTS: M2(J7) 19 miles Ashford International 35 mins Ramsgate 6 miles M20 (J7) 38 miles Stratford International 55 mins Dover 20 miles M26 (J2a) 45 miles St Pancras International 75 mins Folkstone 27 miles M25 (J5) 55 miles COLUMBUS AVENUE 4 SITUATION 1 The property is situated on Manston Business Park, a modern Business Park in East Kent providing an excellent distribution location to the South East by road and rail, and internationally 2 via the south east’s sea ports. The locations accessibility and 10 connectivity has attracted a number of established occupiers including Wahl UK, Rowe Atlantic, Spiralift Services, Cantium, Cohline (UK) Ltd and Cummins’ European Headquarters. M I 3 N E Situated to the north of the A299, Manston Business Park is S V 11 T A E accessed via the B2190. The property is situated to the north R S U R B of the Business Park off the main estate road, Columbus O A 7 M D U Avenue. 4 L 6 O 9 C To the south of the property, Elevation Space comprises Rowe 5 INV Atlantic’s HQ and 20 business units let to SMEs. ICT A W AY The Business Park has become a regional enterprise hub through Manyweathers Properties’ development of 150 8 E light industrial workshop units “The Oaks” and V A S U “Maple Leaf”. These units have all either B M been let or purchased off plan, U L O successfully attracting an array C MARGATE of local business, SMEs and 12 owner occupiers to the business park. B2190 WESTGATE-ON-SEA B2190 SPITFIRE WAY A28 WESTWOOD INDUSTRIAL CUMMINS 1 Subject Property 7 Invictus Way ESTATE LTD FLETE A229 2 Cummins Limited 8 The Oaks WOODCHURCH 3 Wahl UK 9 Maple Leaf 9 0 4 Elevation Space 10 Cohline UK A229 B 2 1 OLD MANSTON 5 Rowe Atlantic 11 Heli Charter Limited A6140 MANSTON AIRPORT 6 Invictus Products 12 Summit Aviation A229 A253 MANSTON BUSINESS PARK MONKTON RAMSGATE M2 MINSTER RiverOak Strategic Partners have set out By 2024, they predict that 680,000 M2 plan to reopen Manston Airport for short passengers and 170,000 tonnes of cargo A229 haul and cargo flights by Spring 2020. will fly from the airport. B2190 1 COLUMBUS AVENUE 7 2 10 5 9 6 4 8 12 11 3 1 Kent International Airport 7 The Oaks 2 Summit Aviation 8 Wahl UK 3 Cohline UK 9 Invictus Products 4 Maple Leaf 10 Invictus Way 5 Rowe Atlantic 11 Cummins Limited 6 Elevation Space 12 Heli Charter Limited COLUMBUS AVENUE 6 DESCRIPTION Developed in 2006, the property provides a purpose built, two bay, high specification distribution warehouse with ancillary office accommodation totalling an area of 180,021 sq ft (GIA). The building has been developed to an institutional standard to include the following specification: Steel portal frame with a minimum working height of 10 metres 9 dock level and 2 surface level access electrically operated loading doors Three storey office accommodation incorporating raised floors and suspended ceilings Large service yard extending to over 42 metres 300 car parking spaces and separate parking for HGVs Further to the base specification the Landlord provided an enhanced specification which is rentalised by way of an ‘additional rent’ as detailed in the tenancy section. The enhanced specification includes the following: Lighting in the warehouse accommodation An operations office totalling 1,600 sq ft within the warehouse Concrete pad crane foundations Heating and ventilation systems in the warehouse accommodation Office link covered walkway VRF heating and cooling system to the offices Further works undertaken by the tenant include a full sprinkler system to the warehouse roof and two enclosed links connecting the property with their existing facility opposite.
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