AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD

SECURE INDUSTRIAL INVESTMENT

AINSCOUGH CRANE HIRE LTD ASHTON ROAD / BREDBURY / SK6 2RG AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG AINSCOUGH CRANE HIRE LTD

INVESTMENT SUMMARY

Situated on an extremely prominent corner plot of the Bredbury 14.25 years remaining on FRI lease subject to a schedule of condition Industrial Estate Current rent of £38,000 per annum (£3.36 psf - applying £25,000 per Bredbury Industrial Estate extends to over 220 acres with over 100 acre on site overage of 0.72 acres) business tenants 5 yearly reviews to the lower of OMRV or RPI (Uncapped)  Excellent main road frontage to the A6017 Ashton Road linking to Freehold Junction 25 of the M60 Offers in excess of £580,000 (STC) In close proximity to Stockport railway station and International Airport Attractive Net Initial Yield of 6.25% and a Reversionary Yield of 6.34% (applying RPI) Property comprises of 5,942 sq ft warehouse on a site of 1.06 acres (12.86% site cover) Investment value underpinned by industrial land values Let to Ainscough Crane Hire Limited (D&B 4A1) Higher value alternative use possible STP AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG AINSCOUGH CRANE HIRE LTD

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23 3 10 18 20 5 25 8 KEY 6 24 22 21 J25 27 7 19 4 1 UK Point of Sale 30 26 2 Optimas 3 Stocktons 28 4 Smith News 29 17 5 Convergys AINSCOUGH CRANEASHTON HIRE ROA LTDD 6 Kerry Fresh 7 Hadfields 16 8 Satake Europe 9 Allied bakeries AINSCOUGH 14 10 CRANE HIRE LTD Brady Corporation 15 11 TNT 12 Aggregate Industries 13 Yess Electrical 14 Euro Car Parts 11 15 Antala Ltd 9 13 16 DVLA 17 BT 18 Woodstock Leabank M60 19 Robinsons 20 RSAAR 21 Stanley 22 Trescal 23 Veridor 12 24 Solutions SK 25 Renthal 26 Hilti 27 Janome 28 Boxes and Packaging 29 Direct Express Logistics 30 Subway 12 A585 M65 A583 3 32 M55 1 A671 4 A59 11 M6 A666 A680 10 9 A583 8 A59 A677 31 7 Preston Blackburn 6 AINSCOUGH A56 A682 A646 CRANE HIRE LTD A6 A646 30 Halifax 5 A59 29A 1A 9/2 4 29/1 3 M65

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG 28 AINSCOUGH CRANE HIRE LTD A565 8 To Leeds 23 M6 A666 M62 1 Location A6 22 M66 A640 A62 A59 A49 M61 A570 A56 21 Bredbury is a suburban town to the north east of Stockport A565 A640 A673 A58 2 A58 27 20 and sits north and east of Junction 25 of the M60 motorway, A58 3 6 19 providing good access to Manchester City Centre (8 miles), the A670 M61 A664 regional motorway network and 10 miles to Skelmersdale 5 4 4/18 A62 4 19 3 6/26 3 20 the south west. A565 A59 5 2 M60 M58 A58 1/15 21 M6 22 1 A56 A579 14 Stockport is one of the 10 boroughs forming the Greater A570 25 13 A62 7 Manchester conurbation and is a major administrative and 1/12 24 A580 ManchesterManchester A628 A5036 11 23 commercial centre, being home to over 285,000 people. 6 23 M62 5 A580 Centre A59 10 A565 A580 4 M6 9 A56 1 Bay St Helens 24 2 3 M67 The property is situated on an extremely prominent corner plot of M57 A58 22 8 M60 3 11 A560 the Bredbury Industrial Estate off the A6017 Ashton Road, which A5058 7 2 10/21A A34 25 A57 9 6 1 Liverpool 26 is a key industrial area for South Manchester and has access M62 A56 5 27 A57 1 4 5 7 4 directly off Junction 25 of the M60. The property is within 2 Albert M62 1/6 Warrington 21 1/3 2 Stockport Dock 3 2 AINSCOUGH CRANE HIRE LTD close proximity to Stockport railway station and Manchester Birkenhead A5300 A557 M6 4 A50 3 A562 A56 5 International Airport. A561 Widnes 7 6 A6 A56 20 7 M56 River 20/9 Mersey A556 Manchester The immediate location is predominantly industrial in character 4 Airport 10 M6 Liverpool 11 A34 A523 with the estate over 222 acres and home to over 100 businesses John Lennon Runcorn A50 A41 Airport 19 AINSCOUGH A623 M53 12 CRANE HIRE LTD including Allied Bakeries, Hilti Group, Montrose, Robinsons 5 6 7 8 Ellesmere Port Brewery, Snickers Footwear and TNT. M56 River 9 A6 A49 M6 A50 Dee A550 M53 A537 14 10 11/15

Ashton Rd Cromwell Rd M60 Station AINSCOUGH Brinnington CRANE HIRE LTD Bredbury Industrial Estate

Lingard Ln

25 AINSCOUGH Brinnington CRANE HIRE LTD Park Ashton Rd

Brinnington Rd 25 A560 Bredbury Bredbury Station A560

M60 A6017 A560

Lower Stockport Rd W Bredbury AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG :RUNV AINSCOUGH CRANE HIRE LTD

Description The property comprises of a recently refurbished single let industrial building of 5,942 sq ft on a site of 1.06 acres, which is broadly /% rectangular and largely concreted throughout. The warehouse is clad in brick to 0.9m and over clad in profile metal, with a double hip roof incorporating translucent rooflights that cover 3 vehicle inspection pits. Additionally, a 2 storey amenity block of later construction sits adjacent to the workshop, incorporating works offices, kitchen and toilet facilities under a pitched profile metal roof. 'HSRW

The site is lit, fenced and well secured with entrance via electronically :RUNV :RUNV controlled gates with prominent access to the intersection of Cromwell P Road and Ashton Road.

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6KHOWHU P P P P Accommodation2UGQDQFH6XUYH\ ‹&URZQ&RS\ULJKW$OOULJKWVUHVHUYHG/LFHQFHQXPEHU3ORWWHG6FDOH The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition). The property has the following approximate gross internal areas:

Workshop 410.62 sq m 4,420 sq ft Office Building – GF 70.69 sq m 761 sq ft Office Building – FF 70.69 sq m 761 sq ft Total 552.00 sq m 5,942 sq ft The property occupies a site of approximately 0.43 hectares (1.06 acres) which provides an exceptionally low site cover of approximately 12.86%. AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG AINSCOUGH CRANE HIRE LTD

Ainscough Crane Hire Limited are a 5A1 covenant

Tenure Environmental Survey Freehold (Title number: GM857719) An Environmental Survey, prepared by Fairhurst, can be provided on a non-reliance basis. The report concludes the environmental risks varying between Very Low to Moderate/Low. EPC Energy Performance Certificate available upon request. Covenant Status Ainscough Crane Hire Limited (Company Number: 03245223) were established in 1976 and are the largest lifting services company in the UK with 30 depots nationwide. It was a family run business Tenancy until a management buyout in 2007. The company has recently been acquired by Oaktree Capital The property is let to Ainscough Crane Hire Limited (Company Number: 03245223) on a reversionary Management who are American Venture Capitalists with £90 billion invested worldwide. lease expiring 28th May 2032 (14.25 years unexpired). The lease is drawn on FRI terms but is subject A summary of Ainscough Crane Hire Ltd accounts is set out below. to a Schedule of Condition.

The current passing rent of £38,000 per annum is reviewed five-yearly (next review 29th May 2022). 31 May 2016 31 May 2015 The increase in rent is limited to the lower of OMRV or the Retail Price Index uncapped. Turnover £110,500,000 £122,400,000 Estimated Retail Value Pre Tax Profits £12,200,000 £20,700,000 Shareholder Fund £17,239,000 £32,703,000 We would analyse the estimated open market rental value to be in the region of £65,000 per annum (£6.50 psf with £35,000 per acre land overage). Southfield 25 is currently letting on 10-year unbroken terms to 5A1 occupiers at £10 psf. VAT VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a transfer of a going concern. AINSCOUGH CRANE HIRE LTD

AINSCOUGH CRANE HIRE LTD / ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG AINSCOUGH CRANE HIRE LTD Proposal We are seeking offers in excess of £580,000 (Five Hundred and Eighty Thousand Pounds) for our client’s freehold interest subject to contract and exclusive of VAT. A purchase at this level reflects the following yield profile after deducting purchase costs. AINSCOUGH 6.25% Net Initial Yield CRANE HIRE LTD 6.34% Reversionary Yield (Current January 2018 RPI – 276) 10.67% Reversionary Yield (May 2032) - Applying current ERV Land Value per acre - £547,000

For further information or to arrange an inspection, please contact: Christopher Dee LLP James Kinsler Mark Powell 40 Peter Street Tel: 07825 870209 Tel: 07825 077724 Manchester Email: [email protected] Email: [email protected] M2 5GP

MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or AINSCOUGHtenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee LLP nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. CRANE DesignedHIRE by Ask Design LTD Ltd - 0161 976 1836. February 2018. 206031