REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR > Aldridge is an established industrial > Gross Internal Area of circa 61,931 sq ft > For the year ending 2015 Muller UK location within the West Midlands together with canopy area of 3,012 sq. ft. & Ireland Group LLP had a turnover INVESTMENT conurbation. The area has good motorway of £1.337billion and a net worth of > Let to Muller UK & Ireland Group LLP for access with the M6 toll 6 miles to the £326million. SUMMARY 15 years from 8th July 2008 with a tenant north of the town and junction 7 of the M6 break clause on 8th July 2018 subject We are instructed to seek offers in excess of approximately 5.5 miles to the south. to 9 months notice. The passing rent is £3,025,000 (Three Million and Twenty Five > Prominent position on Brickyard Road £250,024 which equates to £4.00 per sq ft, Thousand Pounds) subject to contract, which 0.5 miles from the Town Centre and in the next open market rent review is on reflects a net initial yield of 7.76% and a the vicinity of a number of industrial 8th July 2018. reversionary yield of 9.25% after allowing estates including Haywood Industrial for purchasers costs of 6.46%. A purchase at > Highly reversionary to an estimated Park, Beecham Business Park and Empire this level would show a low capital value of £297,749 per annum equating to £4.75 Industrial Park. £48.84 per sq. ft. per sq ft. > Freehold, two bay steel portal frame unit, > Formerly operating as Dairy Crest the unit originally constructed in the 1980’s and is used as a milk distribution depot for a extensively refurbished and re-roofed number of large supermarket contracts. in 2002 with a clear height of 9 metres. The tenant upgraded the unit to provide a Benefitting from 1 level access door, 6 dock substantial chilled storage facility which is > £3,025,000 doors with levellers, a canopy and a large subject to full reinstatement provisions. secure concrete yard. NIY 7.76% | CAP VAL £48.84 psf REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY // Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR www.mk2.co.uk LEEDS 105 MILES LOCATION DISTANCE (MILES) MANCHESTER 81 MILES LIVERPOOL Walsall Town Centre 4 92 MILES Sutton Coldfield 7 NOTTINGHAM Wolverhampton 11 SHREWSBURY 49 MILES 42 MILES Birmingham City Centre 12 ALDRIDGE LEICESTER 50 MILES M6 J10 5.5 BIRMINGHAM 12 MILES NORTHAMPTON M6 Toll JT6 6.0 61 MILES BRISTOL 96 MILES LONDON 134 MILES M6 A5 M6 TOLL M54 Aldridge is an established industrial town on A34 A5 the edge of the West Midlands conurbation. LICHFIELD RD BLOXWICH It is strategically located in the centre of the LOCATION M6 Country and the logistics communications ALDRIDGE network, approximately 4 miles to the A452 M6 TOLL M42 WOLVERHAMPTON 10 north-east of Walsall town centre, 7 miles WALSALL north-west of Sutton Coldfield, 11 miles east SUTTON A4041 COLDFIELD of Wolverhampton and 12 miles north of Birmingham city centre. The area has good access to the motorway network with Junction M5 10 of the M6 approximately 5.5 miles to M6 the south-west providing access to the M5, M40, M42, M54, M1 and M69 and Junction BIRMINGHAM T6 of the M6 Toll 6 miles north. The majority M6 of the industrial premises in Aldridge are concentrated in the area to the north and west of the town centre along Middlemore M42 M5 Lane, Westgate, Stubbers Green Road and Brickyard Road. COVENTRY REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY // Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR www.mk2.co.uk The property is situated on the eastern side of Brickyard Road between Empire Close and SITUATION Vigo Place, approximately 0.5 miles to the north-west of Aldridge Town Centre. The property is situated in an established industrial area with a number of industrial estates in the locality including Hayward Industrial Park, Beecham Business Park, Empire Industrial Park and Anchorbrook Industrial Park. Major occupiers in the vicinity include RMD Kwikform, Brownhills Glass, Wienerberger, Ibstock and Interserve. 1 6 4 JT6 A TO M6 TOLL B OD RD O WO A EN T E M R G A A D N 4 R ’ LN 5 D S E L IC 2 IE L PP HF N CO N C IC L L W H H E A C HIGH HEATH L R S S I B A T L B 4 L E 1 W R 5 O D 2 R O R D L D L R I D H D B Y R R Z IC A L S K L L TO M6 T A J10 U YA B R S B D L E A R RD S W G ATE WAY G TH W R OR 1 E N E A 6 N L 4 R D S D A R A L B L L 4 L A N 1 W 5 ON 2 O ST D O R S D T D U R BB R D E A MULLER UK RS Y G K ALDRIDGE R C E I E R N D R B R D D R R E D T H O S C A O E O B W H 41 R L P C L P L 5 A E A F I 2 2 R G S A H L 5 H S A W W W 4 E O W A S T O G D A R D TE N D L U E MB R S O S M A A L LE E IDD P 4 M Y 5 D 4 E B R LIT R TLE Y ASTO L N RD N E G D I R D L A REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY // Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR www.mk2.co.uk The property comprises a detached two The Tenant has made numerous alterations > A new compound at the end of the car park bay single storey warehouse constructed to the property under a licence dated 8 July for the storage of refrigeration plant in the late 80s/early 90s and refurbished 2008 including: DESCRIPTION > New automatic entrance barrier around 2002. The property is of steel portal > Installation of a chilled store with a clear with “Portacabin” style gatehouse.* frame construction with single storey offices ceiling height of 6.5m and despatch to the front, battery charging room and > External wash and valet bay. loading bay area spanning across one works offices to the side. The warehouse (water supply and drainage).* bay and accounting for circa 50% of the has an approximate clear eaves height of 9 warehouse. > Upgrade to power supply from 70 kVA metres. The external envelope is finished in to 1000 kVA including installation of new a combination of brick and profile clad steel > Removal of the 4 original loading bays to substation (Landlord made a contribution of elevations under a profile metal sheet roof provide 6 dock doors with dock levellers circa £100k towards this work which may be incorporating translucent rooflights. and shelters under the original canopy.* taken into account at rent review).* The property was originally served by 4 > Provision of male and female changing The licence also permitted the tenant to canopied raised level loading bay doors rooms, disabled WC and cellular offices construct a further level access loading door with 5 dock levellers and a single level within the main open plan office.* adjacent to the existing door but this has not access loading door. been installed. The single storey offices have painted walls, suspended ceilings, recessed Cat 2 lighting, carpeted floors, perimeter trunking, electric storage heating and uPVC double glazed windows. Externally the concrete yard to the side of property has a depth of approximately 40 metres with 22 lorry spaces. A tarmacadam surfaced car park with 38 spaces is situated at the front of the property. The yard and car park share a single access point off Brickyard Road. The site is fully secured by metal palisade fencing and security gates. * The tenant is not required to reinstate these items at lease expiry. REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY // Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR www.mk2.co.uk The property has been measured in accordance with the RICS Code of Measuring Practice ACCOMMODATION (6TH Edition) and provides the following approximate gross internal floor areas. SQ M SQ FT Warehouse 5,404.64 58,175 Battery Charge 82.94 893 Offices 265.94 2,863 TOTAL 5,753.52 61,931 Loading Canopy 279.87 3,012 The site extends to a total area of approximately 2.95 acres providing for a low site cover of 48%. TENURE Freehold. REVERSIONARY DISTRIBUTION WAREHOUSE INVESTMENT OPPORTUNITY // Muller UK & Ireland Group, Brickyard Road, Aldridge, West Midlands WS9 8SR www.mk2.co.uk The property is let on full repairing and insuring terms, subject to a Schedule of TENANCY Condition*, to Muller UK & Ireland Group LLP DETAILS (assigned from Dairy Crest Ltd on 11th March 2016) for 15 years expiring on 7 July 2023 with a tenant only break option on 8 July 2018 subject to 9 months notice. The current passing rent is £250,024 per annum which equates to £4.00 per sq ft valuing the loading canopy at £1.00 psf and is subject to upward only rent review on 8 July 2018.