Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY
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Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY MULTI-LET OFFICE AND Beeston INDUSTRIAL BUSINESS PARK BUSINESS PARK INVESTMENT TECHNOLOGY DRIVE NOTTINGHAM NG9 2ND Draft 1 Beeston Business Park MIXED-USENottingham city INVESTMENT centre OPPORTUNITY (6 mins) Beeston 4 5 4 London St Pancras International (1 hour 40 mins) UNDER CONSTRUCTION Barratt Homes development of 310 homes 3 Draft2 1 Building Key 1 Waterfront House 2 AW Repair Group 4 Trent Gateway Beeston GoDaddy 3 SMS - Smart Made Simple 5 ATOS BUSINESS PARK Worldwide Clinical Trials Metropolitan Thames Valley 2 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY INVESTMENT SUMMARY • A rare opportunity to acquire an established Midlands Business Park offering exposure to both the industrial and office sector • Beeston Business Park is located 4 miles south west of Nottingham city centre, with excellent access to the M1 motorway (4 miles) and the A52 dual carriageway • Prominent location adjoining Beeston Train Station offering direct connectivity to London St Pancras International (1 hour 40 mins) • The Park comprises 220,274 sq ft across one multi-let office building, three industrial buildings and a development plot • Part Freehold and part 999 year long leasehold at a peppercorn from 08/10/2003 on a site of 25.6 acres • Fully let to six tenants producing a total passing rent of £1,463,670 per annum equating to an exceptionally low rent of £3.06 per sq ft (industrial) and £12.31 per sq ft (offices) • Supplementary fit outrent of £228,000 per annum totalling a projected capital receipt of £1,034,000 • WAULT of 11.2 years to lease expiries and 7.6 years to lease breaks • Strong diversified income with over 75% of the income secured against the best possible risk score of 100/100 – ‘very low risk’ Draft • Numerous asset management opportunities in the short to medium term including driving the rental tone through upcoming rent reviews, lease re-gear negotiations, development of vacant plot and long term redevelopment of the site (STP). PROPOSAL Offers are sought in excess of £18,100,000, subject to contract and exclusive of VAT. This equates to a very low capital value of £82 per sq ft after allowing for purchaser’s costs of 6.74%. A purchase price at this level reflects anet initial yield of 8.00% off a passing rent of £1,463,670 per annum combined with a projected capital receipt of £1,034,000 for the supplementary fit out rent. 3 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY LOCATION COMMUNICATIONS Beeston Business Park is located approximately 4 Beeston has a thriving business community based in the town for over 160 years, occupying ROAD miles south west of Nottingham city centre, equidistant with a resident population of over 37,000 and their headquarter campus on a 279 acre site, Junction 25 of the M1 motorway is situated between the city and the M1 motorway. The Park benefits from an educated local workforce. This 1.5 miles to the north east of the Park. Boots 4 miles to the west of the Park providing benefits from excellent public transport links and is supported by The University of Nottingham’s purchased the site in 1927 and have proposals strong connectivity to the north and south road communications, with Beeston railway station position in Beeston, which has attracted a high to create a new major headquarter campus of England. Furthermore, there is good immediately adjoining the Park which provides frequent calibre of students, many of whom remain in comprising 2.15 million sq ft of commercial access to the A52, which is a key arterial services to both Nottingham city centre (6 mins) and the area for employment purposes. Beeston is accommodation and up to 675 new homes. route linking Beeston to other regional London St Pancras International (1 hour 40 mins). also the home of Alliance Boots who have been centres and the M6. Woodside University of Wollaton Park A52 Nottingham RAIL Stoke-on-Trent A610 Medical School Nottingham J26 AD Town Centre RO T BY RA ER M Beeston railway station is served by the D L M1 IN Nottingham E M1 Junc 25 Midland Main Line and is positioned adjacent C L Derby IF J25 T A52 O N B to Beeston Business Park. The Midland A52 O Beeston U L BUSINESS PARK E V Main line services London to Sheffield, via A50 05 A J24a W 0 R ood 6 D J24 sid A e R oad Leicester, Derby and Chesterfield. The line East Midlands J23a d directly connects Beeston with Nottingham ar ev ul Bo A42 ty rsi city centre (6 mins) and London St Pancras J23 ive n U A52 Boots D105 Cannock W Inbound (1 hour 40 mins). M6 o ll a to n E J22 R IN o L a d M Boots D82 A R Inbound M6 toll T J21a d Beeston Town Centre a Tamworth o M54 R e Leicester n ha T TRAM M42 J21 Boots Headquater 5 Campus 0 0 6 S A t Beeston also benefits from the established Drafta t i M69 o M1 n R Nottingham Express Transit tram system o a d M6 (NET), one of the UK’s most successful est oad W ens R e Beeston ue iv Q r rapid transport systems. The NET connects D Birmingham y J20 g M M6 lo e o a n d ne Nottingham city centre to the suburbs and M5 Birmingham ch o a e w L T n Coventry R to J19 o if Chilwell Manor a l is used by over 8 million people annually. In A14 d C Golf Course M42 Coventry 2015 the line was extended to link Beeston, J18 Beeston River Trent Train M46 BUSINESS PARK M5 M40 J17 Chilwell and Clifton at a cost of £500m. Attenborough Tram Nature Reserve M1 AIR East Midlands Airport is located 12 miles to the south west of Beeston and is the second largest cargo airport in the UK after London Heathrow. Birmingham International Airport is situated within close proximity to the town, being 45 miles south west. Nottingham city centre Boots Headquarter Campus Beeston train station Beeston town centre The University of Nottingham 4 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY London St Pancras Nottingham city centre International (1hr 40mins) (6 mins) Beeston TECHNOLOGY DRIVE TECHNOLOGY DRIVE TECHNOLOGY DRIVE Development Plot ROAD Attenborough 0.71 acres Nature Reserve ATOS SMS Trent Gateway MEADOW ROAD SMS SMS UNDER CONSTRUCTION Barratt Homes Development Building Key of 310 homes Waterfront House AW M Repair Group 15 T L Draft FUTURE RESIDENTIA SITE BALANCING POND BEESTON BUSINESS PARK Beeston Business Park formerly known as ‘The Siemens Technology The Park has developed into an established business park in the To the west of the Park is Waterfront House, a purpose-built 88,000 sq site’ provides a mix of industrial and office accommodation. The Park Midlands region and was awarded Enterprise Zone status in March ft office providing Grade A office accommodation over ground and first is easily accessed off Meadow Road via Queens Road (A6005) which 2011. The Park’s success has led to strong inward investment as floor. The property is accessed via Technology Drive, the principal estate is the main arterial road linking Nottingham city centre with Beeston demonstrated by Chancerygate and Hines £20m 33-unit industrial and road running through the Park, and sits on a large site adjacent to SMS and the M1 motorway. Its strategic position immediately adjacent to warehouse development, Trent Gateway. The speculatively developed Electronics and AW Repair Group’s industrial/warehouse buildings. The Beeston railway station and proximity to the M1 motorway and East 155,000 sq ft scheme sits on a 6.4 acre site to the north and east of the property has recently been refurbished to a high-quality specification Midlands Airport has enabled the Park to be successful in retaining Park and has just reached practical completion. In addition to this, at and is fully let to GoDaddy, Worldwide Clinical Trials and Metropolitan and attracting a range of national and local occupiers including ATOS, the entrance to the Park, Barratt Homes is currently on site building 310 Thames Valley. GoDaddy, Worldwide Clinical Trials, Metropolitan Thames Valley and homes, further illustrating the attractiveness of this location in Beeston SMS Electronics. as a place to live and work. 5 Beeston Business Park MIXED-USE INVESTMENT OPPORTUNITY 1a 3 10 to 12 14 14 to 16 6 12 Recreation Ground 2 SL a 6 10 9 SL 1 9a 73 23 8 t o 28 o 6 28 26.5m 11 2 13 8 THE PARK STORNAWAYCOURT BROXTOWE 5 4 7 6 5 6 83 Beeston 6 1 15 STATION 5a BEESTON OWNERSHIP PLAN Station 5 1 8 10 17 CAR PARK 1 48 27.0m 2 3 The ownership comprises one multi-let office building, three industrial buildings and a development plot. Station Villas FREEHOLD 1 7 13 5 15 3 1 CH BEESTON 10 66 LONG LEASEHOLD 12 1 FRONT7 PLOT The Park has a breakdown as follows: 1 19 2 Post 4. 12 Victoria Hotel 9 to 11 Posts 13 (PH) MP 123.25 2 17 El Sub Sta El Sub Sta 38 25 22 PUBLIC TCB Posts 2. Posts ATOS FOOTPATH FB 13 31 19 36 FREEHOLD 5 Building Use Size (sq ft) 3 1 29 15 to 17 Works El Sub Sta 47 36 32 32 Waterfront House Office 91,895 2a 51 26 42 M/C 26.8m 19 59 El Sub Sta 38 4 44 67 23 Unit 2C Industrial 6,749 46 3.