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GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB

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GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB M6 Lancaster New Heysham to M6 link road A683 New Junction A683 Heysham GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB Prominent industrial high-bay warehouse investment thinkcapitarealestate.uk GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Investment Summary — Lancaster is strategically located in the North West of England, with direct access to Heysham Port, the M6 and national West Coast Mainline rail links. — White Lund Industrial Estate is the main employment area in the Lancaster District with significant future growth from improved infrastructure and an expanding nuclear and wind power industry accessed via Heysham Port. — Prime industrial warehouse unit, with a prominent frontage to the A683, Southgate and Mellishaw Lane situated between Morecambe and Lancaster. — The property which could provide a single-let distribution unit, having previously been Reebok’s HQ, has been split up to form 6 self-contained, multi-let units. — Originally constructed in the 1970’s, in 1994 a substantial high-bay extension was added, with associated fuel tank and yard. — GIA of 266,241 sq ft (180,423 sq ft excluding mezzanines) — The property sits on a total site area of 10.48 acres (4.24 hectares) — Passing rent of £599,994 per annum, this equates to £2.25 psf. — The property is held Freehold. We are seeking offers in the region of £5,970,000 (Five Million Nine Hundred and Seventy Thousand Pounds), which equates to a Net Initial Yield of 9.50% and a Reversionary Yield (after June 2016 fixed uplifts) of 9.71%. At this level it would provide a Capital Value of £33.09 psf (not including Tenants mezzanine). Subject to contract and after standard purchasers costs of 5.80%. 2 GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Location Lancaster is a renowned university city situated in Lancashire in the North West of England, 4.7 miles north west of Junctions 22 and 2.2 miles south west of Junction 34 of the M6 motorway, which runs from Carlisle in the north to Coventry via Birmingham in the south. It is situated Kendal opposite Lancaster Retail Park, 64 miles west of Leeds, 49 miles north west of Manchester and 50 miles north of Liverpool and Warrington. Destination Fastest Journey Time Preston 17 minutes M6 Warrington 37 minutes Barrow - in - Furness A65 Manchester 51 minutes Gateway Manchester Airport 1 hour 7 minutes London 2 hours 25 mintues Lancaster Railway Station is served by the West Coast Mainline (please see table for fastest journey times). Blackpool Leeds Preston Local Growth Industries/Infrastructure Blackburn New Heysham to M6 Link Road Leyland M62 The new link road, which will significantly improve access to the estate, is due to complete in Southport summer 2016, with some sections due to open sooner. The works will link White Lund Industrial Estate directly with Junction 34 of the M6 via the new Northgate/A683 junction to the north of Bolton White Lund Industrial Estate. Wigan M60 Heysham Port Manchester M6 Heysham Port is perfectly positioned between Britain and Ireland, controlled by Peel Groups it M62 commands a strong influence over the Irish Sea Network providing a 24 hour gateway for Irish Sea Liverpool Warrington Ferries freight and passenger services. Home to two nuclear power stations, with plans for a third, M56 the port also forms a major offshore supply base for one of the largest gas fields in British waters, and is ideally located to do the same for the future Celtic Array offshore wind farm development., Nuclear Power Industry Heysham Nuclear Power Station, which is made up of two separate power stations, with plans for a third in the future is a huge driver of the economy in Lancashire. The improved access between the M6 and the nuclear power station sites at the port of Heysham, will continue to improve drive demand for industrial space at White Lund Industrial Estate. 3 GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Situation White Lund is the principal employment area and industrial estate within the Lancaster District extending over 247.7 acres between Morecambe and Lancaster. The estate M6 provides, in general, smaller business to the west and modern larger units with national businesses to the east, it is characterised by a long history of high occupational levels. Marine Rd Morecambe A683 Gateway provides a striking landmark building which was previously used as Reebok’s A584 Lancaster Rd headquarters before they relocated in 2008. It is situated on the south eastern edge of New Heysham to M6 link road J34 White Lund Industrial Estate 2 miles north west of Lancaster City Centre, in a prominent Northgate position at the junctions of Southgate (one of the main estate roads), Mellishaw Lane and White Lund the A683 (South Morecambe bypass). A683 Mellishaw Lane Gateway Directly south of the site on the opposite side of Mellishaw Lane is Lancaster Retail Park which includes SportDirect.com, Wickes, and Matalan. A683 Lancaster Port of Heysham Other local occupiers include Topps Tiles, Bookers, Grahams, McDonalds, Stagecoach, Morecambe Metals, Volker Brooks and Asda. New Junction Volvo A6 Topps A683 Tiles Nissan & Gap White Lund Renault & Hyundai Peugeot Enterprise Trade Park University Screwpix Lancaster Plumb Centre M6 Northgate Howdens Yess Electrical Graham River Lune Toyota & Gateway Speedy Cintron Middlegate A683 Hire Skoda Southgate Wickes Europcar J33 Southgate Trade Park Edmondson F & Sons Lancaster Retail Park Mellishaw Lane 4 GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Description The property, which has been subdivided into 6 fully-let self-contained units, comprises Externally there are 3 entrances to the site, in the North West, North East and South West a substantial distribution warehouse originally developed in the 1970’s with a substantial corner of the site where there is a security lodge of 1,000 sq ft (93 sq m). high-bay extension added in 1994. The specification includes: The property provides loading yards, a lorry parking area and approximately 111 car — Steel portal frame construction parking spaces secured by a steel post mesh fence and CCTV system. In the south eastern — Profile metal sheet cladding corner of the site, on site 3 is a card operated fuel tank (tenant addition), which is used — Roof clad with profile metal sheet cladding incorporating translucent panels and managed by a local distributor. Site 2 had historical plannig for a new entrance off Mellishaw lane. — Solid concrete floor with movement joints — A mix of ceiling mounted sodium box lighting and fluorescent strip lighting — Minimum eaves height: - 1970’s – 5.7 metres - 1994 – 16 metres (includes Unit 4 and part of Unit 5) — Sprinkler system throughout with two water tanks and pump house to the rear — Hot air blower units Units Specification 4 dock level loading door, 1 roller shutter door, to the southern facade and a substantial 1 mezzanine, which has been converted to offices (tenants improvement). 2A 1 dock level loading door to the northern facade. A self-contained office building over two storeys, including suspended ceilings, 2B perimeter trunking, central heating via wall mounted radiators and male and female WC’s. 1 roller shutter door to the northern facade and a mezzanine converted to office’s, which 3 links through to Unit 2B. Rev Date Description Chkd By Status: A new loading bay with 3 dock level loading doors to the eastern facade and a LEASE MAP - MASTER PLAN This drawing is the property of ODM Building Surveyors & Engineers Ltd. The information contained herein must not be used, reproduced, disclosed or circulated in whole or in part without written consent. 4 substantial 4 storey mezzanine floor of steel frame construction incorporating stairs, a All written dimensions to be checked on site prior to the production of any components. Joseph Cotter pallet lift and sprinkler system throughout. BEng (Hons) Civil Engineering 19 Ard Na Si, Tel: 0879749717 Lis Na Dara, Carrick Road, Dundalk, Co. Louth. Client: THE COMPLETE SERVICE LTD 3 roller shutter doors to the southern facade. Tenant has installed 2x 5 tonne Gantry Project Title: PROPOSED SUB-DIVISION OF EXISTING WAREHOUSE AT SOUTHGATE, WHITE LUND 5 INDUSTRIAL ESTATE, LANCASTER. Cranes and other heavy lifting equipment. Drawing Title: Lease Map - Master Plan Scale Drawn By Chkd By Date SITE LAYOUT MAP 1:1000 JC JC 20/07/15 Scale 1/1000 Project No. Drawing No. Rev. 5 GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Accommodation The property is designated for B1, B2 and B8 uses and comprises a large industrial unit extended with a high bay distribution unit with loading yards to the front, side and rear and associated fuel tanks. The Gross Internal Area has been taken from CAD plans and measured in line with the RICS Code of Measuring Practice, they provide: Description Sq Ft Sq M Unit 1 56,629 5,261 Unit 1 Mezzanine 20,634 1,917 Unit 2A 24,345 2,262 Unit 2B (offices) 4,424 411 Unit 3 15,296 1,421 Unit 4 (Total GF) 44,563 6,056 Unit 4 Mezzanine 65,184 6,056 Unit 5 35,166 3,267 TOTAL 266,241 24,734 TOTAL (excluding mezzanine) 180,423 16,762 Site Area The property occupies a self-contained site of 10.48 acres (4.24 hectares). GATEWAY, White Lund Industrial Estate, Lancaster, LA3 3PB | Prominent industrial high-bay warehouse investment Tenancy Schedule Unit Tenant Sq Ft Lease Start Lease End Break Rent Review Rent (pa) Rent (psf) Comments 1 56,629 SHP Ltd 02/03/2011 01/03/2021 £155,730 £2.75 Tenant recently served option to purchase mezzanine due to spending 1 (Tenants Mezzanine) 20,634 significant monies on office space.
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