LOGISTICS ALLIED BUSINESS CENTRE & WAREHOUSE POTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES LOGISTICSPOTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF LOGISTICS STRATEGICALLYSalads To Go LOCATED S&J Warehousing & Transport M58 M58 JCT 5 Outline for indicative purposes only. ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES LOGISTICSPOTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF STRATEGICALLY LOCATED Outline for indicative purposes only. INVESTMENT CONSIDERATIONS • Highly reversionary distribution warehouse with considerable asset management • The property provides 117,800 sq ft of warehouse accommodation and opportunities in the logistics sector 30,421 sq ft of serviced office accommodation • Strategically located on West Pimbo Industrial Estate, an established industrial estate • The tenant of the warehouse accommodation, Messenger Express Warehousing Limited, immediately adjacent to Junction 5 of the M58 is an established logistics operator who has been in occupation for over 15 years • Large site area of 10.67 acres (4.32 hec) providing a low site coverage of 30% • Freehold. It is the first time the property has been marketed as a freehold asset with short term leases (not a ground rent) for over 30 years • Current triple net rent of £303,168 reflecting a very low £1.60 psf on the warehouse accommodation and £2 psf overall • We are instructed to seek offers in excess of £4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of £27.00 per sq ft and • Local evidence for industrial rents show a potential for reversion between £3-£4 psf, a Net Initial Yield of 7.10%, with a potential significant reversion after asset management. a considerable increase on the current rent for the warehouse accommodation LOGISTICS DUNDEE ■ PERTH ■ M80 EDINBURGH M9 ■ M73 M8 GLASGOW M77 M74 NEWCASTLE UPON TYNE ■ ■ ■ CARLISLE SUNDERLAND A1(M) MIDDLESBROUGH ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES POTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF A59 LOGISTICS A59 LOGISTICS A59 A1(M) YORK LEEDS BLACKPOOL BLACKBURN A63 HULL M58 M65 HALIFAX M62 SOUTHPORT M66 A15 SKELMERSDALE A1 SCUNTHORPE BARNSLEY GRIMSBY M6 DONCASTER M58 M60 M18 M180 S&J Warehousing & Transport M1 BRIGG M62 A52 LIVERPOOL MANCHESTER A1(M) SHEFFIELD GAINSBOROUGH M56 BUXTON CHESTERFIELD LINCOLN NEWARK-ON-TRENT M6 NEWCASTLE-UNDER-LYME A38 BOSTON ROBUST LOGISTICS LOCATION NOTTINGHAM STOKE-ON-TRENT DERBY A52 M1 A46 A1 STAFFORD STRONG CITY DRIVE TIMES QUICK ACCESS TO M54 M6 Toll Liverpool 30 mins MOTORWAY NETWORKS A47 ■ WALSALL LEICESTER Manchester 45 mins M58 ■ 3 mins ■ NORWICH M42 PETERBOROUGH Birmingham 1 hr 45 mins M6 7 mins ■ WOLVERHAMPTON A570 ■ 6 mins M6 M5 BIRMINGHAM A1(M) A14 ■ ■ A11 COVENTRY M42 A43 FREIGHT SERVICES BY SEA AIRPORT CARGO HUBS NORTHAMPTON M40 ■ A428 CAMBRIDGE SITE AREA Port of Liverpool & Freeport 19 mins Liverpool John Lennon Airport 30 mins ■ Seaforth Dock 18 miles Manchester Airport 40 mins 10.67 acres (4.32 hectares). Low site coverage:: 30%. A1 A11 IPSWICH M IL L Outline for indicative purposes only. B53 LA ■ 12 NW ■ A MILTON M1 5 77 M11 UP HOLLAND KEYNES LOCATION A1(M) HOLLAND MOOR Skelmersdale is a well-located town of circa 40,000 inhabitants situated and 5 and connecting with the M6 Motorway some 4 miles East at Junction A577 between Liverpool and Manchester in West Lancashire on the River Tawd, 26. The two international airports of Liverpool John Lennon Airport (18 miles OXFORD M5 ■ M25 DIGMOOR 6 miles (10 km) west of Wigan, 13 miles (21 km) north east of Liverpool and to the south) and Manchester Airport (30 miles to the south east) are both M58 M40 E N 24 miles (38 km) west of Manchester. The town is a popular ■logistics location within a comfortable drive offering both cargo and passenger services. LA R AD UE O SWANSEA Q R being easily accessible by all parts of the North West and is the principal E L M25 IL There are a number of surface freight services offered at the nearby Port H H C R SWINDON E W O economic focal point for the west Lancashire region. As an early new town T ■ J5 of LiverpoolCARDIFF and Freeport (13.5 miles) and Seaforth (13.1 miles), linking into Skelmersdale benefits from a purpose built road system which links the ■ READING LONDON Europe, Africa, America and Asia. The Liverpool2 deep-water container ■ M58 Town’s Industrial Estates to the nearby road network. terminal at the Port of Liverpool ■has recently been completed at a cost of BRISTOL The town benefits from being located on the regional and national £400m, enabling the largest vessels to call■ directly into port, future proofing motorway network with direct access to the M58 Motorway via Junctions 4 its longevity going forward. BATH UPHOLLAND ■ SOUTHAMPTON ■ PORTSMOUTH ■ PLYMOUTH ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES LOGISTICSPOTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF SITUATION The property is situated on the east side of Potter Place at its junction with Pimbo Road within The Pimbo Industrial Estate, a well-established industrial park just to the south of Skelmersdale Town Centre. The estate is ideally positioned immediately adjacent to Junction 5 of the M58, offering swift and direct access to the regional and national motorway network. One characteristic of the estate, which is a considerable benefit to its occupiers, is the sophisticated one-way system employed on site, making it ideal for logistics and distribution purposes. Immediately north of the estate, just above the M58 motorway, the area is predominantly residential, whilst to the south it is a mix of farmland and forestry, for which the town is well known. To the north west, opposite the subject property, is the Gillibrands Industrial area which is easily accessible both by foot and car, as is Upholland Railway Station which is 5 minutes by car to the east. Pimbo Industrial Estate is a popular industrial location and is home to a number of established occupiers including Pepsico International (Walkers), Procter & Gamble, TORK, 3M Scott Safety and Yew Tree Dairy, as well as a number of local distribution and logistics companies. DESCRIPTION The property comprises a detached distribution warehouse with office accommodation constructed in 1982. Internally the property is split into three warehouse units and self-contained office accommodation. The offices are located to the north of the property and are arranged over ground and first floors. They comprise approximately 30,421 sq ft of accommodation and are currently subdivided into 32 individual suites ranging from 115 sq ft to 6,970 ft providing both open plan and cellular offices, together with toilet facilities. The offices benefit from on-site parking and face onto the property’s grounds to the north including the property’s picturesque lake. The three warehouse units comprise approximately 117,800 sq ft (10,943.8 sq m) of logistic storage and distribution accommodation with minimum eaves heights of 6.7m. Loading is provided by dedicated loading bays incorporating dock and level access loading and externally there are yards on 3 elevations. There are a further 10 storage containers to the north of the property. ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES LOGISTICSPOTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF LOGISTICS TENURE Freehold. SPECIFICATION Steel portal frame construction with a mix of brick cladding/ composite panel walling under a lined and insulated profile A minimum eaves height of 6.7 metres metal sheeting roof Dock and tailgate loading including two raised level Warehouse specification includes pendant halogen loading doors, five surface level loading doors and lighting and overhead gas radiant heaters yards on 3 elevations The office specification includes mineral fibre suspended Concrete service yard and a car park for 204 cars on site, ceilings, mix of LED and Cat II lighting, central heating, comfort including 4 disabled bays cooling, perimeter trunking and carpeting throughout ALLIED BUSINESS CENTRE & WAREHOUSE HIGHLY REVERSIONARY DISTRIBUTION WAREHOUSE & SERVICED OFFICES LOGISTICSPOTTER PLACE, WEST PIMBO INDUSTRIAL ESTATE, SKELMERSDALE, LANCASHIRE, WN8 9PH WITH A LOW SITE COVERAGE AND A CAPITAL VALUE OF ONLY £27 PSF TENANCY Unit Tenant sq Ft Sq m Lease Start Lease End Rent Unit Tenant sq Ft Sq m Lease Start Lease End Rent Distribution Warehouse* Suites C6 Newcorp 750 70 25-Sep-13 25-Sep-23 £4,400.00 Computer Unit 1 9,300 864 1-Jan-18 31-Dec-18 £13,950 Services Limited Messenger Suites C7 & C8 Vacant 1,500 140 Unit 2 Express 56,000 5203 17-Apr-18 31-Mar-19 £98,000 Warehousing FJC Systems Limited Suite C9 230 21 25-Dec-08 25-Dec-18 £2,300.04 Unit 3 52,500 4877 1-Jan-18 31-Dec-18 £78,750 Limited Face2face Sub total 117,800 10,944 £190,700 Suite C10 500 46 1-Jan-20 31-Dec-21 £3,930.00 Couriers Limited *The tenant is currently holding over. As part of their lease the tenant for the Warehouse Units pays approximately Suite C11-C16 Vacant 1,128 105 £48,083 p.a.