Well Based Securely Let Industrial Estate with Longer Term Breakup and Development Potential
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For Sale Well based securely let Industrial Estate with longer term breakup and development potential Units 1-5 Langham Park | Berristow Lane | South Normanton | J28, M1 | DE55 2EG > Next • Price- Offers in excess of £7,500,000 • Net initial yield – 7.5% • £51.81 per ft² capital value Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG Investment Summary Home KEY: Investment Summary 4 6 1: Co-op Food – 440,000 ft2 DC 3 The Property 5 2,3,5,7,8: Alloga UK Healthcare Features / Specification Logistic Solutions 4: Parker Knoll Location BERRISTOW LANE 8 11 6: Synseal Background / Tenancy 7 9: Alliance Healthcare Lease Terms / Rental 2 10: Eddie Stobart 11: McArthur Glen East Financial Security Midlands Retail Rateable Value UNITS 1-5 Outlet Scheme EPCs / Planning 9 1 Junction 28 Market A38 Commentary 10 Occupational Deals Asset Management/ Longer Term Redevelopment Proposal VAT Service and Estate Charge Further Information M1 J28 Identity Checks Contact • Industrial complex totalling • Designed to subdivide into • Let to a secure very low risk • Price – Offers in excess < > 13,447m² (144,744ft²) five units covenant – Whitemeadow of £7,500,000 Previous Next • Set in approx 7.6 acres • New 10 year leases Group Holdings Limited • Net initial yield – 7.5% • Prime prominent location commencing April and • Initial rental - £599,267 • Net of costs at 6.7% May 2021 per annum adjacent to the J28, M1 / A38 • Low capital value • Opposite to McArthur Glen • Break clauses – April and • Low base rent - £3.95 per ft² - £51.81 per ft² Retail Outlet Scheme May 2026 Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG The Property Features / Specification Home Langham Park was constructed in the • Brick and clad elevations Investment Summary 1960s/1970s by Filigree Textiles with the • Pitched, sheeted and insulated roof covering 144,744ft² industrial complex being acquired The Property • Tarmac and concrete surfaced loading yards by Langham Park Developments in 2009. Features / Specification to two elevations The buildings are principally of brick elevations • Flexibility to subdivide into five individual units Location under pitched sheeted and insulated roof • Heating and lighting Background / Tenancy coverings offering five individual interconnecting • B1, B2, B8 planning consent Lease Terms / Rental units offering eaves height of between 3.5m • No working hours restrictions Financial Security and 5.7m. Rateable Value EPCs / Planning Junction 28 Market Commentary Occupational Deals Asset Management/ Longer Term Redevelopment Proposal VAT Service and Estate Charge Further Information Identity Checks Contact < > Previous Next Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG Location Home Langham Park, South Normanton is accessed Road Distance Drive Time Town Distance Drive Time Investment Summary directly from the A38 approximately 0.75 miles north east of J28 of the M1. M1 1.2 km (0.75 miles) 3 minutes Derby 26km (17 miles) 27 minutes The Property M18 40km (25 miles) 25 minutes Sheffield 30km (19 miles) 20 minutes Features / Specification J28 is the most significant focus of demand for distribution and industrial space in the northern Location A1(M) 60km (38 miles) 45 minutes Leeds 50km (31 miles) 32 minutes part of the East Midlands as a consequence of M42 61km (38 miles) 40 minutes Birmingham 97km (61 miles) 65 minutes Background / Tenancy the intersection of the M1 and the A38 in the Lease Terms / Rental heart of the East Midlands M1 Corridor. M62 80km (50 miles) 50 minutes Manchester 101km (63 miles) 57 minutes Financial Security The A38 provides direct linkage to Derby and M5 106km (66 miles) 70 minutes London 220km (137 miles) 130 minutes Rateable Value Birmingham in the south west and Mansfield M40 107km (67 miles) 70 minutes to the north east. The M1 provides the north EPCs / Planning M25 200km (125 miles) 120 minutes south linkage within the UK. Junction 28 Market Commentary South Normanton is an established distribution East Midlands Airport is located at J23A/J24 of the M1 (the intersection of the A50 and the Occupational Deals location demonstrated by the following linkage to the UK Motorway and trunk road network. A42/M42) with Robin Hood Airport Doncaster Asset Management/ accessed at J4 of the M18. Longer Term Redevelopment Proposal SHEFFIELD M1 Berristow Lane VAT High View Road A619 Service and CChesterfieldhesterfield ShirShirebrookebrook Estate Charge J29 A1 A614 M1 A61 Further Information Matlock MMansfieldansfield A38 East Midlands AlfrAlfretoneton J28 A617 Designer Outlet Identity Checks A6 A515 A38 A60 A38 Contact J27 A38 Belper Hucknall A46 J26 Alfreton Road A52 DERBY < > NOTTINGHAM J25 Castlewood Previous Next Business Park Beeston J28 A50 J24 BarrBarrowow East upon TTrentrent Midlands J23 Airport a A46 Broadmeadows A42 LoughborLoughboroughough M1 Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG Background Tenancy Schedule Home Langham Park Developments (LPD) purchased Unit Tenant Floor Area Lease Term Break Rental Per Annum Investment Summary the property in 2009. LPD’s intentions when they originally purchased the scheme was to refurbish 1 The Citipost The Property Citipost Mail 6,410m² the property to provide up to five individual units (Existing lease ends N/A £261,912 Limited (68,996ft²) Features / Specification intended to offer good value, self contained Lease) 5th May 2021 Location industrial / warehousing which could either 1 Whitemeadow 6,410m² 10 years effective Background / Tenancy be purchased freehold or leased. (Agreement Group Holdings 05/05/26 £272,532 (68,996ft²) 6th May 2021 Lease Terms / Rental Until September 2020 the property had been For Lease) Limited Financial Security occupied by two Tenants, namely Citipost at 2, 3, 4 & 5 Year 1 - £271,791 * Unit 1 (Citipost are still in occupation until May & external Whitemeadow Rateable Value 7,037m² 10 years effective Year 2 - £283,437 2021) and Caledonian Alloys who vacated in land of Group Holdings 31/03/26 (75,748ft²) 1st April 2021 Year 3 - £298,967 EPCs / Planning September 2020. approx Limited Years 4 & 5 - £306,733 Junction 28 Market 0.8 acres Caledonian Alloys Limited had triggered their Commentary Car Park break option effective May 2020 in December Whitemeadow A new lease Occupational Deals accessed 0.22 2019 but had indicated a desire to remain in Group Holdings effective 05/05/26 £20,000 from Carter acres Asset Management/ the property on new lease terms. Limited 6th May 2021 Longer Term Lane East Redevelopment It was only in August 2020 that it became apparent that terms could not be agreed with * The Vendors will top up the annual rental for Units 2, 3, 4 and 5 from the outset to £306,733 per annum. Proposal Caledonian Alloys and at that time FHP were VAT instructed to market Units 2 to 5. Service and Estate Charge Terms were agreed within a matter of weeks with Whitemeadow who commenced occupying the Further Information units on a phased basis from September 2020. Identity Checks When Citipost subsequently triggered their break Contact clause effective May 2020, LPD offered Unit 1 to Whitemeadow who took the opportunity to < > relocate the majority of their production facilities to Previous Next the site. An Agreement For Lease (AFL) has been entered into which commits Whitemeadow to occupying the unit with effect from 6th May 2021. The legal documentation is contained within a data room. Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG Lease Terms Rental Income Home The leases for Units 1 and 2 – 5 together with the Under the leases the rental income increases from The Whitemeadow story began in the early 1990s Investment Summary lease for the car park are all drawn on consistent £564,325 per annum to £599,267 per annum. when they commenced manufacturing from one terms, i.e. ten year leases incorporating a Tenant of their existing sites. Whitemeadow have grown The Property The Vendors will top up the rental from the only break clause after five years triggered by organically and currently employ over 600 staff in outset such that the income is guaranteed Features / Specification nine months prior notice in writing. over 170,000ft² of manufacturing space at J28 from the outset at £599,267 per annum. Location of the M1. The leases incorporate Open Market Rental The rental devalues to £3.95 per ft². Background / Tenancy Value Rent Reviews at the end of the fifth year Detailed information is available at: Lease Terms / Rental of the term, being drawn on a fully repairing and Whitemeadow are a privately owned British www.whitemeadow.com. upholstery manufacturer specialising in providing Financial Security insuring basis with the repairs being limited by Photographic Schedules of Condition. handcrafted beds and sofas, supplying the Rateable Value majority of Britain’s blue chip High Street names EPCs / Planning and premium independent retailers. Junction 28 Market Commentary Occupational Deals Asset Management/ Longer Term Redevelopment Proposal VAT Service and Estate Charge Further Information Identity Checks Contact < > Previous Next Units 1-5 Langham Park Berristow Lane South Normanton DE55 2EG Financial Security Rateable Value Home Whitemeadow Group Holdings Limited (Company No 07375021) Investment Summary offer strong financial security. Whitemeadow score 96 out of 100 Property Address Unit 1 Units 2-5 offering “very low risk” with a credit limit of £1,100,000 and a The Property credit rating of £350,000. Description Warehouse & Premises Warehouse & Premises Features / Specification Financial highlights of the past three years of audited accounts up Location until 31st December 2019 are: Rateable Value £165,000 £196,000 Background / Tenancy Lease Terms / Rental Item Dec 2017 Dec 2018 Dec 2019 Financial Security Turnover £48,390,177 £52,207,345 £52,826,112 Rateable Value Pre Tax Profit £3,685,421 £4,210,732 £3,472,151 EPCs Planning EPCs / Planning Net Assets / Junction 28 Market The EPC rating for Unit 1 is C58.