8 Leacroft Road, Birchwood, Warrington WA3 6PJ
WELL CONNECTED
Freehold Cold Store Warehouse Investment

Freehold Office Investment
c 10 Year Unbroken Term
15% Site Cover
ND House, Lodge Way, Lodge Farm Industrial Estate,
Northampton NN5 7SL

Freehold Warehouse
VMU and Trailer Park Investment
19% Site Cover
Lodge Way, Lodge Farm Industrial Estate, Northampton

Reversionary Freehold Warehouse Investment
9.2m Min Eaves Height
Mandal House, Lodge Way
Lodge Farm Industrial Estate, Northampton

• A well established industrial area close to M3 J3. The subject property is next to Allport International Logistics and close to Tesco and Toys R Us retail warehouses, a David Lloyd fitness club, the redeveloped Western International Market, the planned 300,000 sq ft Western International Park, and the recently refurbished Navigator Park.
• Freehold warehouse (7.61 m eaves height) and offices, refurbished early 1990s with consent for use as a high class car repair workshop.
• Gross Internal Area 17,688 sq ft (1643 sq m) including 2,100 sq ft offices in the front pod. The total floor area is agreed by documentation.
• Site area 3450 sq m (0.85 acre) with built footprint of 1566 sq m (45% site cover).
• Let to Solus (London) Ltd (formerly Carstar Ltd) which, for y/e 31 Dec 2008, reported pre-tax profits of £9.422m on a turnover of £84.707m, and net assets of 14.285m. Its ultimate parent is Aviva Plc.
• FRI lease, subject to schedule of condition, for 15 years from 6 Oct 1998 expiring 5 Oct 2013.
• Passing rent £142,000 pa (£8.02 psf) rising to £145,000 pa (£8.19 psf) on 6 April 2010.
• Solus are in the process of subletting to Chandler Stewart, a dedicated Porsche repairer.

• We are instructed to seek offers in the region of £1.6 million subject to contract and exclusive of VAT, at which level it shows, after 5.725% purchase costs, 8.39% rising to 8.57% next April.

• Excellent Location within 200 yards of A464 close to M54 J4.
• Entire premises let to P & O Property Holdings Ltd on assignment from European Ferries Ltd, both substantial covenants, until 20 August 2011 (4 years unexpired).
• “Old” lease for privity of contract purposes (commenced 21st August 1985).
• Long leasehold tenure 999 years from 25th December 1992, at £5 pa till 2013 then at a peppercorn.
• Recently sublet.
• Double bay industrial/warehouse unit built 1985 with ground and 1st floor offices.
• 38,104 sq ft ground floor warehouse and 4,876 sq ft offices with substantial parking.
• Passing rent £183,000

• Multi-let to 4 good tenants including Wilmington Media Ltd and O2 (UK) Ltd.
• The opening of Ebbsfleet International Station as the new high speed gateway to Europe is scheduled for November and is bringing new homes and businesses to the area, including major developments such as Land Securities’ Ebbsfleet Valley and Countryside Properties’ The Embankment.
• 17,718 sq ft office building.
• Rack Rented. Total passing rent £117,173
• VRV Air-Conditioning recently installed by freeholder
• Freehold

• Guide Price £1.5m STC (one million five hundred thousand pounds)
• 7.39% Net Initial Yield after purchasers’ costs of 5.76%