UNIT 1 ASHBURTON ROAD WEST TRAFFORD PARK MANCHESTER M17 1RW HIGH BAY INDUSTRIAL INVESTMENT BROADOAK INDUSTRIAL PARK EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSAL EXECUTIVE SUMMARY Industrial Investment, located on Trafford Park Offers are sought in excess of £2,600,000 (Two Million Six 62,391 sq ft high bay distribution unit Hundred Thousand Pounds), subject to contract and Freehold exclusive of VAT. Let to Kerry Logistics UK Limited by way of a 30 year lease expiring 24 March 2019 (3.5 years unexpired) A purchase at this level would reflect a Net Initial Yield of 8.5%, Rent passing £234,000 per annum, reflecting after allowing usual purchasers costs of 5.8%. £3.75 per sq ft EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSAL A68 Hartlepool Bishop Auckland A689 A167 A1(M) A19 A688 A68 Middlesborough Stockton-on-TA167 ees A66 Darlington A67 A66 A66 A66(M) A172 A19 Richmond A1 Northallerton A19 A1(M) A6Th1 irsk A168 Ripon A61 A1(M) Bridlington A64 A59 Driffield Harrogate A166 A61 York A658 A614 A65 A1079 A64 LOCATION A660 A1035 A61 A1079 Leeds A19 14 A650 A58 A658 Bradford 44 Airport Manchester is the largest business centre There are two mainline rail stations; Piccadilly 13 Shipley A587 Beverley A64 45 outside London and is recognised as the and Victoria, which provide direct trains A59 12 Aldbrough Leeds A614 financial and administrative capital of the to London, Birmingham, Edinburgh and A583 M55 32 A671 3 47 1 11 North West. It is located approximately 34 Glasgow, as well as a host of regional and 4 A59 10 Bradford 46 A165 A6 M6 9 A610 M62 miles east of Liverpool, 44 miles west of national destinations. Via Piccadilly, a fastestBlackpool A583 A666 M65 8 Burnley Selby Cottingham 45 A63 A1(M) A63 38 Leeds, 87 miles north of Birmingham and 207 journey time to London of 2 hours 8 minutes 31 7 A164 Preston A603 M621 44 A63 A584 6 miles north-west of central London. can be achieved. A63 A646 M606 Hull Blackburn 37 Heddon 30 26 28 A58 29 A19 5 A646 30 Brough The City benefits from an excellent motorway Manchester International Airport is A59 29 Halifax 29 3 4 32a 1 M62 31 36 infrastructure, with the M60 Orbital approximately 10 miles south of the City M1 32 Goole Leyland 28 M65 A681 25 33 34 motorway connecting directly with the M56, centre and, in 2014, was the third largest M62 35 A56 Wakefield A644 M67 and M62 motorways. In addition, via airport in the UK in terms of passenger 8 24 both the M56 and M62, this subsequently numbers and the 22nd busiest in Europe. 23 links with the M6. As a consequence, It provides flights to over 200 worldwide Southport Chorley Huddersfield A628 A1 M6 A58 A666 1 A642 approximately 60% of the UK’s population is destinations. 6 M66 M62 within a two hour drive time. A56 A629 Rochdale 38 21 A58 5 27 Bury 2 1 Scunthorpe 5 20 M181 M180 Bolton 3 M1 38 Ormskirk 6 A58 19 A1(M) 2 Grimsby 3 5 Barnsley M58 37 M180 4 4 M61 37 3 4 Wigan 19 A635 5 26 3 17 20 Oldham 16 Atherton 1 21 15 A56 22 Doncaster 1 A695 14 A627 25 Agecroft 36 A616 36 A633 7 M6 A580 UNIT 1 12 Salford 24 1 2 A6010 3 23 A628 6 M57 A6018 A580 A580 11 M602 BROADOAK A630 23 4 10 A635 35 M18 St Helens M62 24 3 INDUSTRIAL A629 Bootle 3 M67 22 Manchester Glossop 2 11 A6 PARK M1 A57 25 Rotherham 10 6 A34 34 A5058 21A 26 M62 27 A631 1 9 5 5 A56 6 7 1 4 2 Stockport 33 32 2 21 3 2 1 3 A553 Liverpool Warrington M60 32 Birkenhead A557 Sheffield A60 A5300 4 A57 3 5 M56 31 A56 20 8 6 A41 Widnes 7 A6 Prestatyn River 9 Peak District A57A57 4 Llandudno Mersey Manchester A6102 10 Airport A557 A533 11 A61 Rhyl Liverpool A523 A540 M53 John Lennon M6 A34 Airport 12 19 5 6 7 Rhuddlan 8 A533 A537 A623 30 9 A619 Holywell A556 Ellesmere Port A537 10 14 Northwich Buxton St. Asaph 11 A49 Macclesfield A61 15 A537 Flint A6 M1 A60 A41 Chesterfield A5117 A556 A54 A34 A617 12 A533 18 A494 A51 A54 Chester A49 A513 A523 A53 Congleton A55 17 Ruthin A50 A41 A51 A34 A530 A534 M6 Crewe A527 A534 A534 A53 Nantwich 16 A500 A500 Wrexham A41 A49 A520 A51 A34 EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSALStoke-on-trent A525 15 A50 A51 A34 A520 A53 A519 Stone A5013 A518 A51 A34 A41 A519 Staffor14 d A518 B5405 SITUATION Trafford Park is the North West’s prime It is also an important leisure hub, with The industrial estate and is situated 3 miles south Trafford Centre, Manchester United and the west of Manchester City Centre. One of the Chill Factore amongst the facilities. largest estates in Europe, it extends to over 1,700 acres and provides over 9 million sq m Media City (home to both BBC and ITV) is of business space. It is home to over 1,330 located to the north of Trafford Park. businesses employing over 35,000 people. Occupiers on the estate include Kellogg’s, Adidas, Wincanton, Proctor & Gamble, DHL, Allied Mills and Cargill PLC. The Park benefits from excellent transport links for freight handling and shipping; A57 Liverpool Road Eccles Road: Direct access to the motorway network is achieved via junctions 9 and 10 of the Patricroft M60 motorway and junction 2 of the M602 motorway. The subject property is situated B5211 UNIT 1 on Ashburton Road West, close to the A5081 Centenary Way Park Way and within 1.5 miles of junction 9 BROADOAK of the M60. Barton INDUSTRIAL upon Irwell PARK Rail: Manchester International Freight Ashburton Road Terminal (MIFT) is the largest rail freight terminal in the North West and currently handles in excess of 100,000 containers per W est annum. MIFT is located approximately 1.5 miles from the subject property. B5214 Trafford Sea: Port Salford is a £138 million project to Park Chill Factore develop the UK’s first tri-modal (served by Village Way Trafford road, rail and short-sea shipping) inland port Boulevard facility. Via the The Manchester Ship Canal it intu Trafford 10 Centre Park Way will link Manchester to the Port of Liverpool B5211 A5081 and ‘Liverpool2’, a new deep-water terminal which will be able to accommodate 95% of the global container vessels. Port Salford is within 3 miles of the subject property. Barton Road Air: Manchester International Airport is within 10 miles and, as well as three passenger Crofts Bank Lostock Road 9 terminals, it provides a freight terminal which currently handles approximately 100,000 tonnes Barton Road of import and export freight and mail annually. EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSAL DESCRIPTION The property was constructed in the 1950’s The office element has been fitted out by and comprises a steel frame unit with part the tenant to a high standard including; brick and part profile clad elevations beneath suspended ceiling, floor boxes for IT a single span roof. It has the benefit of four and comms, air conditioning and glass loading doors, allowing for the loading of partitioned cellular offices. goods at multiple points along the main elevation of the unit. Over time the unit has From here the tenant runs its international been entirely re-clad and, in 2007, the roof freight handling operation. was substantially refurbished and overlaid with profile cladding. The warehouse unit benefits from a substantial minimum eaves height of 11.4 m, Internally it has a substantial racking system which provides very efficient accommodation which includes electronic guidance for the for storing and handling goods. It is therefore fork lift trucks. ideal for distribution purposes. By way of example, the subject property has a cubic capacity of 66,078 m³. An identically sized unit with a typical eaves height of 7 metres has a much lower cubic capacity of only 40,574 m³. Accordingly, the subject unit offers 63% more storage accommodation than a standard unit. 11.4m eaves height 66,078 m3 7m eaves height 40,574 m3 EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSAL ACCOMMODATION The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the 5b following approximate areas: 4b ACCESS Unit Sq.m Sq.ft Broadoak 3a Main warehouse 5,280.21 56,836 Business (Ground floor office) (531.07) (5,716) Park 2a First floor office 516.12 5,555 1a Total 5,796.33 62,391 In addition, the site extends to 2.38 acres (0.96 hectares) 1 101014 EXIT 9 2 EXECUTIVE SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION TENURE/TENANCY/EPC/VAT COVENANT STATUS PROPOSAL TENURE/TENANCY/EPC/VAT Tenancy By virtue of a further Deed of Variation in Tenure Kerry Logistics UK Limited originally 2009 the roof is excluded from the tenant’s The property is held freehold. occupied the property by way of a full repairing obligations. repairing and insuring lease for a term of 15 EPC years from 25 March 1989, subject to three The current passing rent is £234,000 per A copy of the EPC is available on request.