INNOVATION HOUSE, THE GLADES, FESTIVAL WAY, FESTIVAL PARK, STOKE-ON-TRENT, ST1 5SQ MODERN PRODUCTION / MANUFACTURING INVESTMENT Edinburgh M6 M6 LEEDS Investment Summary HULL Location LIVERPOOL MANCHESTER • Located on Festival Park – Stoke on Trent’s Stoke on Trent is strategically located in SHEFFIELD Port of Immingham North Staffordshire approximately 45 miles premier mixed use Business and Retail Park A55 with occupiers including Bet365, Royal Mail, north of Birmingham, 43 miles south of Manchester and 35 miles west of Derby. Vodafone, DPD, Wade Ceramics and West ManchesterManchesManchester AirportAirport The location benefits from good access Midlands Ambulance Service. A38 M6 M1 to the regional motorway network with STOKE ON TRENT NOTTINGHAM Junction 15 M6 Motorway approximately • Adjacent to proposed Etruria Link Road. DERBY 7 miles and the A50 Trunk Road providing A5O dual carriageway access to Derby and the • Let on a 10 year FRI lease expiring 24th East Midlands M54 Airport M1 Motorway. December 2024 M6 Toll M42 A1M BIRMINGHAM Stoke on Trent has a main line railway • Tenant - Tekdata Interconnections Limited station providing regular services to Birmingham with a surety from Avnet AMG Limited. Airport London Euston (1 hour 30 minutes), A14 Birmingham New Street (50 minutes) and • Total floor area of 41,327 sq. ft. with approx. Manchester Piccadilly (40 minutes). 80 car parking spaces. NORTHAMPTON A14 M1 Stoke on Trent has a growing population of • Annual rent £200,000 per annum M5 approximately 259,000. M11 Longport Port of M40 Felixstowe • December 2019 break option not triggered A53 CARDIFF demonstrating the tenants commitment to A34 M25 M4 LONDON the building. M6 North BRISTOL • Potential for future alternative uses, subject A500 INNOVATION HOUSE NEW ROAD EXTENSIONS Open in Google Maps >> to superior landlord and freeholder consent M5 to vary the lease. M2 WOLSTANTON JUNCTION • Long leasehold interest for a term of 150 SHEL years less 7 days from 1st January 1988. TO FESTIVAL F N BL A527 E RETAIL S T I PARK VD V A L W • Seeking offers in excess of £2,350,000 (Two Q AY U E E Million, Three Hundred and Fifty Thousand F RIA ROAD N O ETRU A5010 R S G Pounds) subject to contract for our clients W E HANLEY L A A N A5008 A527 Y long leasehold interest. A purchase at this E level reflects an attractive net initial yield of A53 8.0% allowing for purchasers costs of 6.35%. A500 • Low capital value of £56 per sq ft. M6 South Situation Waterworld The subject property is on Festival Way, lying to the north of Festival Park which is the premier out of town commercial, retail and leisure park in Stoke on Trent. Festival Park is located on the junction of the A500 D Road and A53 Etruria Road approximately 1 mile to the west of the City Centre (Hanley). The A500 provides access to all main arterial roads in the area and connects Junctions 15 and 16 of the M6 Motorway. The business park extends to over 250 Innovation House acres with 40 acres available for future development. Festival Retail Park There has been a variety of development on Festival Park / Etruria Valley over recent years to include a Farmhouse Inn Pub, a 60,000 sq. ft. parcel depot for DPD and a 15,000 sq. ft. facility for West Midlands Ambulance Service. The most recent activity has been speculative development on an 11 unit trade FESTIVAL WAY park and a 43,000 sq ft distribution unit both on Shelton Boulevard. The Waterworld Resort is in close proximity and has attracted over 12 million visitors to date. Waterworld is currently undergoing a £13 million redevelopment creating a wide range of facilities and amenities. A500 The new Etruria Link Road when constructed will further improve access to the business park New extension to providing an access road from Innovation House Shelton Boulevard directly over to the Wolstanton Junction of the A500 as indicated on the location plan. New extension to Festival Way Innovation House WAY IVAL FEST Proposed road extensions are indicative only Description The property was constructed in the 1990’s and comprises a modern 2 storey manufacturing / production facility. The unit is of steel frame construction with brick / glazed elevations and a profile clad roof above. The accommodation is configured over two floors with ground and first floor offices to the front and production and storage space to the rear. There are toilet facilities on both floors and a goods lift provides access to the first floor production area. Externally there is a good sized car park / yard to the side providing approximately 80 car parking spaces and access to the 2 loading doors in the side elevation. Accommodation Sq. ft. Sq. m. Ground Floor 20,534 1,907.67 First Floor 20,793 1,931.73 Tenure Total GIA 41,327 3,839.40 The property is held by way of a long leasehold interest for a term of Approximate site area 1.75 acres (0.7 hectares). 150 years less 7 days from 1st January 1988. Tenancy Information The building is let to Tekdata Interconnections Limited on a full repairing and insuring lease for a term of 10 years from 25th December 2014. The December 2019 rent review was agreed at £200,000 per annum. The lease is subject to a photographic schedule of condition. Avnet EMG Ltd are a surety on the lease. Covenant Information Anti Money Laundering Tekdata Interconnections Limited (Company Registration Number 00967924) has over 40 years The Money Laundering Regulations require identification checks of experience in providing specialist wiring systems to a broad range of sectors including aviation, to be undertaken for all parties purchasing/leasing property. defence, space and automotive. The business has been in occupation of Innovation House Before a business relationship can be formed, we will request since 2009. Tekdata has an Experian score of 100 (Very Low Risk) and is part of a wider group of proof of identification for the purchasing/leasing entity. companies within the Alpha 3 Manufacturing Group who’s ultimate holding company is Avnet Inc. Tekdata Interconnections Limited Proposal 1st July 2017 30th June 2018 29th June 2019 We are seeking offers in excess of £2,350,000 (Two Million, Three Turnover £5,823,000 £6,107,000 £5,523,000 Hundred and Fifty Thousand Pounds) subject to contract and Pre Tax Profit £791,000 £492,000 £579,000 exclusive of VAT for our clients long leasehold interest. A purchase Net Worth £5,475,000 £5,966,000 £6,452,000 at this level reflects an attractive net initial yield of 8.0% after allowing for purchasers costs of 6.35%. This gives a low capital value of £56 per sq. ft. The lease includes a surety from Avnet EMG Limited (Company Registration Number 01485988). Avnet EMG Limited has an Experian score of 100 (Very Low Risk). Avnet EMG Limited Further Information 1st July 2017 30th June 2018 29th June 2019 For further information or to arrange an inspection, please Turnover £15,944,000 £16,303,000 £16,233,000 contact Harris Lamb on the details below. Pre Tax Profit £4,159,000 £4,129,000 £5,062,000 Net Worth £44,143,000 £48,203,000 £52,403,000 ANDREW GROVES [email protected] EPC 07966 263 287 EPC Rating – C (56) ALEX EAGLETON [email protected] 07970 212182 This brochure and description and measurements herein do not form part of any contract and whilst every effort has been made to ensure accuracy, this cannot be guaranteed. Unless otherwise stated, all rents quoted are exclusive of VAT. Any intending purchaser or lessee must satisfy themselves independently as to the incidence of VAT in respect of a transaction. 10/20.