Well Let Industrial Investment Opportunity
Stoke-on-Trent is strategically located in the heart of the UK, 44 miles south of Manchester, 45 miles north of Birmingham and 35 miles west of Derby. With a population in excess of 250,000 Stoke is both a regional hub and the principal city within the North Midlands. The region is home to a number of multinational companies including JCB, Bet 365, Amazon, Jaguar Land Rover, Michelin and Alstom Grid. The strength of the region’s industrial sector is exemplified by JCB’s decision to create a further 2,500 jobs in Staffordshire, whilst Jaguar Land Rover have recently gained planning consent for a new £40m car storage depot. Stoke-on-Trent’s long history of industrial manufacturing continues to the present day, with 27% of the workforce employed in manufacturing and elementary occupations. This is considerably higher than the UK average of 17%. Businesses looking to relocate to the region are also attracted by the competitive wage costs which are 14% lower than the UK average.
The surrounding area comprises a mix of industrial and trade counter accommodation, where surrounding occupiers include: B&Q, Jewson and CAEM UK. The area is complimented by a strong retail offering via the adjacent Freeport Talke Retail Park where tenants include GAP, Nike, Holland & Barrett, Costa Coffee and Marks & Spencer.
• Unit 4 - Comprises a detached 2-bay industrial warehouse unit of steel portal frame construction, extending to 5,064 sq m (54,506 sq ft), with secure yard areas off the north and south elevations. The property benefits from 6.7m eaves, 5 dock loading doors, 3 roller-shutter access doors, a large loading canopy, tenant installed mezzanine, gas blower heating and strip lighting. The property benefits from two-storey office accommodation and male and female WC’s, The tenant, National Veterinary Services Limited, is also in occupation of Unit 3 (which lies adjacent to Unit 4 but does not form part of this sale). NVSL operate a shared yard and security cabin on the northern yard, between their two units.
• The properties benefit from excellent road communications having close proximity to the A34, A500 and M6 Motorway
• Jamage Industrial Estate is situated within a well established industrial area
• The investment comprises 2 industrial units extending to 109,320 sq ft overall
• Unit 2 extends to 54,814 sq ft on a site of 2.90 acres
• Unit 4 extends to 54,506 sq ft on a site of 2.86 acres
• Unit 2 is occupied by Service Metals (Midlands) Ltd, at a rent of £177,079 per annum (£3.23 per sq ft)
• Unit 4 is occupied by National Veterinary Services Ltd, at a rent of £226,446 per annum (£4.15 per sq ft)
• Extremely favourable Average Weighted Unexpired Lease Term of 9.00 years to expiry and break
• Both tenants provide excellent covenant strength – reflecting minimum risk of business failure
• Freehold / Virtual Freehold
Strategically Located Prime Multi-Let Industrial Investment Opportunity
Brucefield is one of Scotland’s largest industrial estates held under single ownership. Modern industrial units extending to a total floor area of 557,518 sq ft, with units ranging from 3,045 sq ft to 37,431 sq ft. Current passing rent of £1,792,789 per annum reflecting an average passing rent of £4.38 per sq ft. Currently 73% let to tenants including Deutche Windtechnik, PHS Group, EDF, Zonal, SCC, Diet Chef and Ashtead Plant Hire. Over £1 million spent on refurbishment and upgrading. Total site area of approximately 64.88 acres. Heritable (Scottish Equivalent of English Freehold).
Offers in excess of £19.16 million are sought, subject to contract and exclusive of VAT, for our client's heritable interest. A purchase at this price reflects the following yield profile, after purchaser's costs of 6.25%:
Net Initial Yield: 8.81%
Triple Net Initial Yield: 6.75%
Reversionary Yield: 12.38%
Equivalent Yield: 10.23%
Very Low Capital Value per sq ft: £34.36