PRIVATE CLIENT BOOKER CASH & CARRY, MURRAYFIELD ROAD, LEICESTER LE3 1UW SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS PRIVATE CLIENT INVESTMENT CONSIDERATIONS ■ Cash & Carry warehouse investment located ■ Tesco completed a £3.7 billion takeover of ■ Offers sought in excess of £3,625,000 (Three in an established industrial estate just outside Booker Group PLC in 2018 Million Six Hundred and Twenty Five Thousand of Leicester’s City Centre ■ Total Current Income of £247,436 per annum Pounds) subject to contract and exclusive of ■ Situated 1 mile from M1 (J21A) and 2 miles (£4.45 psf) with a minimum rental uplift to VAT. This reflects an attractive Net Initial Yield from J21 M1/M69 interchange £279,952 (£5 psf) in 2020 of 6.4% with a minimum Reversionary Yield of 7.25% in 2020, after allowing for purchaser’s ■ The property is let on a full repairing and insuring ■ The property measures approximately 55,619 sq ft costs of 6.51%. lease to Giant Booker Limited (D&B 5A1) with ■ Freehold 11.5 years unexpired (6.5 years to break) ■ The vendor will consider topping the rent up to the ■ Rent reviews subject to a minimum 2.5% pa minimal 2020 uplift to result in a more attractive compound rental growth with the next rent yield for the purchaser review in February 2020 PRIVATE CLIENT BOOKER CASH & CARRY, MURRAYFIELD ROAD, LEICESTER LE3 1UW SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS LEDP DISTRIBUTION PARK M1 (IN DEVELOPMENT) DISTRIBUTION M1 PRIVATE CLIENT BOOKER CASH & CARRY, MURRAYFIELD ROAD, LEICESTER LE3 1UW SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS A38 Stoke-on-Trent Newcastle-under-Lyme A52 6 4 NOTTINGHAM A A515 S A50 S NEW PARKS 3 A53 A DERBY P 6 A 5 IK Y M M1 B A A D N A A A518 N O D A49 R OMI VE R N Y GLENFIELD IO E N M6 B R M1 T OAD IR Burton upon Trent S K E LOCATION Midlands W A38 Airport A6006 R A442 A51 E A T 46 S E Leicestershire is one of the major commercial and manufacturing centres A42 C I A41 E Shrewsbury CANNOCK L RA in the Midlands and has an estimated population of approximately TB G Y L Telford L E A R N M54 F N A I 350,000 people. Leicester is the largest city in terms of populous in the East EL Walsall LEICESTER E T D M42 B R A47 Y O A A458 M6 TOLL L Y D Midlands and the 11th largest in the country. A A PeterboroughN W RA A5 TB E A454 Y S A49 LA K N R M69 E A It has excellent road links being situated east of the M1 motorway between P T S W IN A605 E A N Junctions 21 and 21a which in turn provides access to the M69, M6 and BIRMINGHAM M6 M1 M Birmingham A6116 A1(M) 21A M5 International M42. Leicester’s ring road the A563 offers connections to the nearby towns SC Airport UD Kidderminster COVENTRY A14 MO RE of Peterborough and Grantham whilst the A6 runs directly thought the city RO M42 AD A456 Coventry A14 centre to Loughborough to the north and Market Harborough to the south. M45 Sunningdale M40 Airport A4025 Centre A435 Warwick B By rail, London (Kings Cross St Pancras) can be reached in a fastest journey 5 A47 38 M1 0 R A423 AT NORTHAMPTON BY time of 1 hour 8 minutes and East Midlands airport lies approximately 20 A1 L A422 A46 A428 AN Worcester E A49 KIRBY FIELDS miles to the north-west of the City. Stratford-upon-Avon A5 Bedford D S A A44 TA RO 3 A4103 TIO N 6 N O 5 A438 RO TI A TA A D 7 S Hereford A429 A4 Braunstone A6 Park A422 Milton A46 BR Keynes AU NS M50 A421 TO M40 M1 NE M5 LA A49 NE A1(M) A5 LUTON GLOUCESTER Luton Airport PRIVATE CLIENT BOOKER CASH & CARRY, MURRAYFIELD ROAD, LEICESTER LE3 1UW SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS SITUATION The property is situated on the north side of Murrayfield Road on the established Brownstone industrial area located 4 miles west of the city centre. The property is very well located with the M1 motorway accessed less than a mile away via the A46 dual carriageway to Junction 21a. The property is situated immediately adjacent to the Midlands Co-operative’s regional distribution warehouse and other occupiers on the estate include Big Bear Confectionery, MTE Leicester, Crown Packaging and Fox’s Glacier Mints. A proposed warehouse development scheme - LE3 DP - is situated in close proximity to the property. The developer is offering build to suit distribution opportunities from 50,000 sq ft. DESCRIPTION The property comprises a self-contained Cash and Carry industrial warehouse arranged over ground and first floors measuring approximately 55,619 sq ft. The unit is of steel frame construction with brick elevations located beneath a pitched roof with concrete flooring at a ground floor level. To the front and west side of the property the warehouse benefits from a large car park of approximately 90 car parking spaces and to the rear there is a well configured and extensive service yard for deliveries. The property has been fitted out to suit a Cash and Carry operator with a large open plan sales space, staff accommodation and storage/loading areas to ground floor with further office and ancillary space to first floor. The offices to the first floor are not currently used by the tenant. Booker, Murreyfield Road, Leicester LE3 1UW PRIVATE CLIENT BOOKER CASH & CARRY, MURRAYFIELD ROAD, LEICESTER LE3 1UW SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS El Sub Sta SITE AREA MURRAYF The site provides an area of approximately 2.447 acres IELD ROAD (1 Hectares) which represents a site cover of approximately 48%. Tank © Crown Copyright, ES 100004106. For identification purposes only. TENURE 0m 10m 20m 30m COVENANT INFORMATION Freehold. Ordnance Survey © Crown Copyright 2018. All rights reserved. Founded in 1835, Booker Group is the UK’s leading food wholesale with over Licence number 100022432. Plotted Scale - 1:1250 13,000 employees serving a total of 1.2 million customers across the UK and TENANCY India. In January 2017, it was announced that the supermarket retailer Tesco had agreed to purchase the company for £3.7 billion – resulting in Britain’s biggest The property is let on a full repairing and insuring lease to Giant retailer combining with the country’s largest wholesaler. The sale is expected to Booker Limited, t/a Booker Wholesale, for a term of 25 years result in a further growth of market share by the Booker brand and to add new from 28th February 2005, expiring on 28th February 2030, with a capabilities to Tesco’s current offering. further guarantee to Giant Bidco Limited. The parent company of Booker Group plc is Tesco PLC. The Booker Group comprises Booker Wholesale, Makro, Booker Direct, Classic Drinks, Ritter Courivaud, Chef Direct, Premier, Family Shopper, Budgens, Londis and Booker The current rent passing is £247,436 per annum (£4.45 psf) India. In the last few years The Booker Group has increased its delivery capabilities. and the lease is subject to a tenant’s break clause on the 20th anniversary of the term subject to six months’ prior In the last few years The Brooker Group has notably enhanced their delivery written notice. The lease benefits from five yearly upward division by highlighting this as an area of growth and gaining several significant only rent reviews which are reviewed to the higher of either contracts left vacant by the collapse of the incumbent wholesaler, Palmer & Open Market Value or 2.5% per annum compounded uplifts. Harvey, in November 2017. Assuming the tenant does not exercise their break option in The company also founded, and was previously a sponsor of, the Booker Prize 2025 this ensures a minimum rental uplift profile of: (originally the Booker–McConnell Prize) for literary fiction, which was established 28th February 2020 in 1968. Giant Booker Limited has reported the following financial information for Higher of £279,952 per annum or OMV the last three years: 28th February 2025 27 Mar 2015 25 Mar 2016 24 Mar 2017 Higher of £316,740 per annum or OMV Turnover £9,200,000 £10,300,000 £10,500,000 The vendor will consider topping the rent up to the minimal 2020 uplift if required to result in a more attractive yield for Pre-Tax Profit £5,600,000 £6,700,000 £5,700,000 the purchaser. Total Net Worth £233,000,000 £227,400,000 £228,300,000 PRIVATE CLIENT PROPOSAL VAT Offers sought in excess of £3,625,000 (Three Million Six Hundred and Twenty Five Thousand Pounds) subject The property is registered for VAT and we would expect the property to contract and exclusive of VAT. This reflects an attractive Net Initial Yield of 6.4% with a minimum to be treated as a Transfer of a Going Concern (TOGC). Reversionary Yield of 7.25% in 2020, after allowing for purchaser’s costs of 6.51%. EPC Energy Performance Certificate for the property is available upon For further information or to make arrangements for viewing please contact: request. PRIVATE CLIENT TEAM DATAROOM Liam Stray Alex Butler For access to the Allsop dataroom please use the following link: 020 7543 6769 020 7543 6722 https://datarooms.allsop.co.uk/register/BookerLeicester [email protected] [email protected] www.allsop.co.uk Misrepresentation Act: 1.