The Longmead Business Centre LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ Prime Highly Reversionary Greater London Industrial / Trade Park Investment The Longmead Business Centre 02 LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ INVESTMENT SUMMARY INVESTMENT SUMMARY LOCATION SITUATION • Exceptional opportunity to acquire a highly reversionary Greater London industrial/trade DESCRIPTION counter estate investment. ACCOMMODATION • A prime inner M25 industrial/trade counter location within an affluent catchment area SITE benefitting from excellent connectivity to Central London, and to the National PLANNING Motorway network. TENANCY SCHEDULE • The property is a well specified late 1980’s estate providing 77,982 sq ft GIA across 10 units ranging TENANCY from 3,894 sq ft to 13,301 sq ft. TENURE • Fully let to 9 tenants on 10 leases, with an average weighted unexpired term of 5.3 years COVENANT INFORMATION to expiries and 4.5 years to break options. • Let to recognised covenants including ASSET MANAGEMENT Saint-Gobain, Travis Perkins, Howdens OPPORTUNITIES and Ford, with 43% of the income Experian OCCUPATIONAL MARKET rated as ‘Very Low Risk.’ • The estate produces a rent of £760,180 per INVESTMENT MARKET annum which reflects a low average rent VAT of only £9.75 per sq ft. • Freehold. DUE DILIGENCE • Highly restricted supply of industrial premises SERVICE CHARGE in the general vicinity, which is exacerbated by the well documented erosion of industrial land EPC in Greater London. DATA ROOM ACCESS • Highly reversionary estate benefitting from tangible asset management opportunities, with PROPOSAL 100% of the income experiencing lease events within the next 3 years. CONTACT • We have been instructed to seek offers in excess of £17,800,000 subject to contract and exclusive of VAT. A purchase at this level would reflect < HOME > a net initial yield of 4.00%, and a capital value per sq ft of £232 per sq ft. Cambridge A423 Bedford A1 A5 A43 Banbury A6 Milton Keynes Saron Walden A131 A421 M1 A10 The Longmead Business Centre 03 LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ A44 Leighton Buzzard Stevenage Bicester Luton Braintree INVESTMENT SUMMARY A120 A41 LOCATION LOCATION A1(M) SITUATION Epsom is an affluent Greater ROAD AIR RAIL London, prime industrial/trade London Heathrow Airport, the UK’s Epsom is well served by Epsom Railway Station which is less than 1 mile to the south. DESCRIPTION counter location of great LOCATIONA414 DISTANCE A40 Aylesbury largest cargo airport, lies 14 miles to the It provides services to the key mainline stations of London Waterloo, London Victoria strategic importance within the A3 (Kingston Rd turn off) 3.7 milesHarlow north, and London Gatwick Airport is and London Bridge, with a fastest journey time of 36 minutes. The station also provides ACCOMMODATION M25. This highly accessibleSt Albans and Oxford M25 (J9) 4.9 miles within 19 miles to the north. services to Guildford, Dorking, Ashtead, and Leatherhead. Epsom is well served by Epsom A4popular1 commuter town is SITE M23 (J8) 11.6 miles ChelmsforRailwayd Station which is less than 1 mile to the south. It provides services to the key situated between the A3 and LOCATION DISTANCE mainline stations of London Waterloo, London Victoria and London Bridge, with a fastest the M25 Motorways; and benefits A414 PLANNINGA4010 HeathrowM11 14 miles journey time of 36 minutes. The station also provides services to Guildford, Dorking, from excellent access to both Gatwick 19 miles Ashtead, and Leatherhead. Epsom is the final regional branch of the proposed Crossrail TENANCY SCHEDULE Central London and the National City Airport 25 miles 2 train link, after Stoneleigh and Ewell West. There will be capacity for up to 8 trains per A420 Motorway network. TENANCYHigh Wycombe Watford Enfield hour in each direction after completion in 2033, significantly improving the Borough’s rail M25 services; particularly in terms of frequency and speed of connection to Central London. M25 A12 A34 TENURE COVENANT INFORMATION A10 M40 ASSET MANAGEMENT Romford Basildon A232 OPPORTUNITIES A40 Leytonstone Felstead Road OCCUPATIONAL MARKET SlougSloughh A13 Longmead Kiln Lane Industrial Estate Industrial Estate INVESTMENT MARKET M4 LONDON Longmead Rd VAT Heathrow Fulhamlham Longmead AAirportirport Richmond Dartford Business Centre DUE DILIGENCE WWaandsworthndsworth Bracknell Blenheim Rd SERVICE CHARGE Kingston upon A20 TThameshames MertonMerton Newbury A240 EPC M3 M20 B284 Weyybridgebridge Epsom SuttonSutton M2 A24 A33 DATA ROOM ACCESS Croydon A3 A23 PROPOSAL A24 Woking 10 BansteadBanstead EPSOM 9 CONTACT B280 Leatherhead M25 A34 8 A24 MaidstoneA24 < HOME > Guildford Dorking Reigate Andover M23 B290 M To Gatwick AirporAirportt Tonbridge A31 A3 A22 Salisbury Winchester M27 The Longmead Business Centre 04 LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ INVESTMENT SUMMARY SITUATION LOCATION SITUATION Longmead Industrial Estate is located off Longmead Road, with dual access DESCRIPTION points to the estate from Felstead Road and Blenheim Road, leading ACCOMMODATION directly to the A24. The A24 provides 14 direct access to Central London, the SITE 15 13 A3, and M25 Motorway. 6 PLANNING Longmead Industrial Estate is 16 recognised as the prime industrial/ TENANCY SCHEDULE 17 12 trade counter location in Epsom. Other 7 5 TENANCY occupiers on the estate include Ford, Kia, Skoda, Mitsibushi, Vauxhall, 18 8 TENURE Automotive Trade Supplies, Screwfix, HSS Hire, HPS Heating and Plumbing 11 4 COVENANT INFORMATION Supplies Limited, Wolseley, Hitchcock 20 9 and King Timber and Builders 10 ASSET MANAGEMENT 19 Merchants, Buildbase, Travis Perkins, OPPORTUNITIES Tchibo and Storage King. OCCUPATIONAL MARKET KEY INVESTMENT MARKET 1 Wolseley. 3 2 Skoda/Vauxhall. VAT 3 Kia/Mitsibushi. 4 Units A1 – A4 DUE DILIGENCE 5 Blenheim House 1 6 Ford SERVICE CHARGE 7 Units B1 – B3 8 Unit C EPC 9 Units D1 – D2 2 10 M R Mouldings Ltd. DATA ROOM ACCESS 11 TensCare 12 Tchibo 13 Screwfix PROPOSAL 14 HSS Hire 15 Storage King CONTACT 16 Awe 17 Photo-Me 18 Epsom & Ewell Borough Council 19 Hitchcock & King < HOME > 20 Travis Perkins The Longmead Business Centre 05 LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ INVESTMENT SUMMARY LOCATION SITUATION DESCRIPTION ACCOMMODATION SITE D2 PLANNING A1 D1 TENANCY SCHEDULE A2 A3 TENANCY DESCRIPTION ACCOMMODATION TENURE A4 C Longmead Business Centre is a well specified industrial/trade The estate has been measured on a Gross Internal Area basis in COVENANT INFORMATION counter estate that was built in the late 1980’s. The estate accordance with the RICS Property Measurement (2nd Edition). comprises 10 units and provides 77,982 sq ft in units ranging ASSET MANAGEMENT GIA GIA B3 from approximately 3,900 sq ft to 13,300 sq ft. The property Unit Tenant (SQ FT) (SQ M) OPPORTUNITIES is arranged in 3 terraces and 1 stand alone unit. The site has B2 A1 Saint-Gobain BD Ltd 6,068 563.7 B1 OCCUPATIONAL MARKET 2 separate access points. Units D1 and D2 are accessed off Felstead Road and the remainder of the estate is accessed A2 Ford Retail Limited 5,670 526.8 INVESTMENT MARKET off Blenheim Road. A3 Mould Growth Consultants Ltd 5,683 528 The units are of steel portal frame construction, with concrete A4 Sartourious UK Ltd 13,301 1,235.8 VAT floors to the warehouse areas and a minimum eaves height B1 Ergonomic Solutions Ltd 5,807 539.5 DUE DILIGENCE of 6m. The roofs comprise built up insulated profiled metal B2 Majestic Leisure Limited 3,894 361.8 sheeting incorporating GRP roof lights throughout. B3 Travis Perkins (Properties) Ltd 5,756 534.7 SERVICE CHARGE The elevations comprise a mixture of built up insulated profiled C Beacon Group Limited 8,427 782.9 metal sheeting and masonry cavity wall construction. EPC The warehouse space is served by insulated roller shutter D1 Howden Joinery Properties Ltd 12,108 1,124.9 ORDNANCE SURVEY PLAN – FOR vehicle access doors. D2 Travis Perkins (Properties) Ltd 11,268 1,046.8 DATA ROOM ACCESS INDICATIVE PURPOSES ONLY The premises have 2 storey office buildings. These areas are TOTAL GIA 77,982 7,244.9 PROPOSAL generally finished with suspended ceilings with mineral fibre tiles. The offices are either carpeted, or have ceramic glazed CONTACT floor tiles or vinyl floor finishes. The windows are aluminium framed powder coated double glazed units. The premises SITE PLANNING are served by all mains services and have toilet facilities for both sexes. < HOME > The estate comprises 3.8 acres (1.54 hectares) which provides The original Planning Permission, T.P.3/No.6/87/0728/0389, was granted on 24th Externally the estate benefits from good loading yards and a site cover of 37.44%. July 1987. This permits use within classes B2 and B8 of the Use Classes Order ample car parking. 1987 for industrial and warehouse purposes. The Longmead Business Centre 06 LONGMEAD INDUSTRIAL ESTATE • EPSOM • KT19 9QQ INVESTMENT SUMMARY TENANCY SCHEDULE LOCATION SITUATION SoT % of Area Lease Next Effective Lease UXT UXT Current Rent SoC Unit Tenant - L&T Comments Income sq ft Start Review Break Expiry (TBO) (Exp) Rent psf (Repair) DESCRIPTION 1954 ACCOMMODATION Unit A1 Saint-Gobain BD Ltd 8.0% 6,068 13-Mar-13 09-Nov-18 0.2 yrs 0.2 yrs £60,670 £10.00 Outside No SITE Unit A2 Ford Retail Limited 7.4% 5,670 23-Jun-15 22-Jun-20 1.8 yrs 1.8 yrs £56,108 £9.90 Inside Yes Mould Growth PLANNING Unit A3 7.4% 5,683 30-Jan-15 30-Jan-20 30-Jan-25 29-Jan-30 6.4 yrs 11.4 yrs £56,520 £9.95 Inside Yes Tenant only break option Consultants Ltd TENANCY SCHEDULE Break (Sept 2018 - 6m notice) not Sartorious UK Ltd exercised. Tenant only break option. TENANCY (Guaranteed by Unit A4 16.3% 13,301 29-Sep-88 29-Sep-18 28-Sep-23 5.1 yrs 5.1 yrs £124,000 £9.32 Inside No Part sublet to Sartorious Intec UK Ltd Sartorius Lab Holding from 26th March 2015 - 28 Sept 2020 TENURE GmbH) at £5,550 p.a.