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SIX INDUSTRIAL PROPERTIES

BOWLER PORTFOLIO

SIX INDUSTRIAL PROPERTIES

BOWLER PORTFOLIO

PORTFOLIO OVERVIEW

The portfolio compromises 6 industrial properties of a single and multi-let nature throughout South Wales. The portfolio offers:

• Asset management opportunities alongside secure income

• Total floor area of 851,577 sq ft

• Let at a passing rent of £1,937,289 pa equating to an average rent of £2.27 psf on let area

• Potential for reversion through fixed increases and rental growth

• Weighted average lease term of 9.35 years to expiry and 7.62 years to break

• 37% of the portfolio let to covenants with a D&B rating of 5A1

Offers in excess of £20,000,000 (Twenty Million Pounds) subject to contract and exclusive of VAT. This reflects a net initial yield of 9.10% and a potential reversionary yield of 9.93% after standard purchasers costs of 6.48% and reflects a low capital value of £23.48 per sq ft.

Brecon Beacons National ParkForest of Dean

Cardiff

Swansea

Bristol

A483

A470

A465

A465

A449

A449

A417

A465

A438

A438

A479

A470

A470

A483

A4042

A4172

A4137

A4103

A4232

A48

A40

A40

A48

A40

A49

A40

A40

A48

A403

A4

A4

A37

A46A420

A433

A38

A38

M4M4

M5

M5

M4

M32

M50

M49

M48

A48(M)

Port Talbot

Neath

Brecon

Pontypridd

Barry

Penarth

MerthyrTydfil

Abergavenny

Hereford

GreatMalvern

Pontypool

BlackwoodCwmbrân

Caerphilly

Chepstow

Ross-on-Wye

ChippingSodbury

PontsheadAvonmouth

Weston-super-Mare

CARDIFF

SWANSEA

NEWPORT

BRISTOL

GLOUCESTER

BATH

2

5

1

4

6

3

THE PROPERTIES

Trojan Electronics Limited, Fabian Way, Kings Dock, Trojan Close, Crymlyn Burrows Swansea SA1 8QE

Unit Superheater Engineering Limited, Elba Business Park, Elba Crescent, Swansea SA1 8QE

Amnitec Limited, Unit 4, Abercanaid, Merthyr Tydfil CF48 1UX

Hawker Siddeley Switchgear Limited, CCS McLays Limited, Roydon Bottle Recycling Limited, Blackwood Business Park, Pontllanfraith, Blackwood NP12 2XH

Smurfitt Kappa UK Ltd, Unit 22, Darren Drive, Prince of Wales Industrial Estate, Abercarn NP11 5AR

Zodiac Seats UK Ltd Henry Thomas House, Llantarnam, Cwmbran NP44 3HB

1 2 3 5 64

PROPERTY SCHEDULE

21 3

5 64

Property Tenant Tenure Area sq ft Area Sq M Acres Total Rent £ psf ERV AWULT (certain) AWULT (expiry)

Fabian Way, Kings Dock, Trojan Close, Crymlyn Burrows Swansea SA1 8QE

Trojan Electronics Limited Virtual Freehold 182,318 16,937.76 8.19 £529,000 £2.90 £556,200 12.40 12.40

Elba Business Park, Elba Crescent, Swansea SA1 8QE

Unit Superheater Engineering Limited Virtual Freehold 85,336 7,927.91 3.79 £245,500 £2.87 £266,344 15.43 15.43

Unit 4, Abercanaid, Merthyr Tydfil CF48 1UX Amnitec Limited Freehold 126,293 11,732.91 6.79 £252,500 £2.00 £252,500 5.40 5.40

Blackwood Business Park, Pontllanfraith, Blackwood NP12 2XH

Hawker Siddeley Switchgear Limited (1) CCS McLays Limited Roydon Bottle Recycling Limited

Freehold 302,129 28,068.47 26.14 £577,789 £1.91 £627,489 4.28 9.48

Unit 22, Darren Drive, Prince of Wales Industrial Estate, Abercarn NP11 5AR

Smurfit Kappa UK Limited (2) Freehold 131,228 12,191.38 13.90 £247,500 £1.89 £328,070 0.80 0.80

Henry Thomas, Llantarnam, Cwmbran NP44 3HB

Zodiac Seats UK Limited Freehold 24,273 2,255.02 2.30 £85,000 £3.50 £85,000 3.61 8.61

TOTAL 851,577 79,113.45 61.11 £1,937,289 £2.27 £2,115,603 7.62 9.35

5

4

6

1

3

2

(1) New lease in solicitor’s hands. (2) New lease in negotiations.

TROJAN ELECTRONICS LIMITED, FABIAN WAY, KINGS DOCK, TROJAN CLOSE, CRYMLYN BURROWS SWANSEA SA1 8QE

1

SWANSEA

© Crown Copyright, ES 100004106. For identification purposes only.

As hleigh Terrace

B4290 New Road

Baldwins Crescent

Elba Crescent

Ffordd Amazon

Ffordd Amazon

Hill V

iew

A483

Fabian Way

A483

A483

SWANSEAUNIVERSITYBAY CAMPUS

SWANSEA BAY

SWANSEA BAYGOLF CLUB

Investment Rationale• Located in Swansea, the second largest City in Wales• Modern distribution unit close to the Amazon hub• Let to Trojan Electronics Limited for over 12 years unexpired

• Benefit from fixed rental increases• Further development opportunities at the front of the site

LOCATION

The Property is located in the city of Swansea, South Wales, approximately 40 miles (63.4 km) west of Cardiff and 11 miles (17.7 km) east of Llanelli. Swansea is Wales’s second largest city with a population of approximately 240,000 (Census 2011). Swansea is a regional commercial centre and as such has attracted a number of multi-national occupiers including; HSBC, Admiral Insurance, Amazon, Morganite, BT, Virgin Media, Hewlett Packard and DVLA. The City has undergone significant regeneration.

Swansea benefits from excellent transport communications having access to four junctions off the M4. The A48 dual carriageway links the city with Carmarthen, whilst the A465 provides direct links to Neath and the Midlands. Swansea Railway Station provides regular services to Cardiff and London Paddington with fastest journey times of 50 mins and 2 hrs and 50 mins respectively.

SITUATION

The Property is situated approximately 3 miles (4.8 km) west of Swansea city centre, immediately north of Fabian Way (A483) which forms the main arterial route from the city centre to the M4. Surrounding occupiers include Amazon who occupy a 900,000 sq ft distribution unit directly east of the subject property, NPT Homes Limited, Neath Port Talbot Council and Intertissue Limited. To the south of Fabian Way, is the recently developed campus for Swansea University which includes student accommodation.

DESCRIPTION

The property comprises a large, modern warehouse with ancillary office accommodation totalling 182,318 sq ft. The unit is of steel portal frame construction with steel clad elevations beneath a steel clad double pitched roof. The unit benefits from a minimum eaves height of 7.5m, 4 roller shutter doors and 6 dock level loading doors. The offices are located along the western elevation of the warehouse and provide modern office accommodation with W/C and kitchen facilities.

The property benefits from a large car park to the west of the site. Furthermore, there is a large yard to the south of the property providing the main loading facilities.

SITE

The property has a total site area of 8.19 acres (3.31 ha) providing a site coverage of 50%.

TENURE

999 year lease at a peppercorn.

COVENANT INFORMATION

Trojan Electronics Limited (04125912)

31 March 2013

31 March 2014

31 March 2015

Turnover £8,773,341 £9,651,090 £10,740,772

Pre Tax Profit £107,335 £572,679 £56,360

Net Worth £297,305 £616,107 £153,097

EPC

A copy of the EPC is available on request.

Unit Use Tenant Sq Ft Start Expiry Rent Review Break Rent Rent (£psf)

ERV ERV (£psf)

Comments

Unit 2.1 Fabian Park, Fabian Way Warehouse Trojan Electronics Limited 156,000 17/03/2015 16/03/2030 17/03/2020 n/a £453,000 £2.90 £476,400 £3.05 Rent year 5-10 £476,400 p.a. Year 10-15 £500,970 p.a. Schedule of condition.

Unit 2.2 Fabian Park, Fabian Way Warehouse Trojan Electronics Limited 26,318 17/03/2015 16/03/2030 17/03/2020 n/a £76,000 £2.89 £79,800 £3.03 Rent year 5-10 £79,800 p.a., Years 10-15 £83,790 p.a. Schedule of condition.

Total 182,318 £529,000 £2.90 £556,200 £3.05

TENANCY SCHEDULE

Ffordd Amazon

Drain

KingsDock

Building

UNIT SUPERHEATER ENGINEERING LIMITED, ELBA BUSINESS PARK, ELBA CRESCENT, SWANSEA SA1 8QE

NEW SWANSEA UNIVERSITY CAMPUS2

SWANSEA


Investment Rationale• Located in Swansea, the second largest

City in Wales• Large site with 2 high bay warehouses

• Let to Unit Superheater Engineering Limited for over 15 years unexpired

• Low rent average rent of £2.83 psf

LOCATION

The Property is located in the city of Swansea, South Wales, approximately 40 miles (63.4 km) west of Cardiff and 11 miles (17.7 km) east of Llanelli. Swansea is Wales’s second largest city with a population of approximately 240,000 (Census 2011). Swansea is a regional commercial centre and as such has attracted a number of multi-national occupiers including; HSBC, Admiral Insurance, Amazon, Morganite, BT, Virgin Media, Hewlett Packard. and DVLA. The City has undergone significant regeneration of late.

Swansea benefits from excellent transport communications having access to four junctions off the M4. The A48 dual carriageway links the city with Carmarthen, whist the A465 provides direct links to Neath and the Midlands. Swansea Railway Station provides regular services to Cardiff and London Paddington with fastest journey times of 50 mins and 3 hrs and 50 mins respectively.

SITUATION

The Property is situated approximately 3 miles (4.8 km) west of Swansea city centre, immediately north of Fabian Way (A483) which forms the main arterial route from the city centre to the M4 (Junction 42). Surrounding occupiers include Amazon who occupy a 900,000 sq ft distribution unit directly east of the subject site, NPT Homes Limited, Neath Port Talbot Council and Intertissue Limited. To the south of Fabian Way, is the recently developed campus for Swansea University which includes student accommodation.

DESCRIPTION

The property comprises two modern industrial units located to the South East of the former Visteon complex. Both units are of steel portal framed construction with steel clad elevations and pitched steel clad roofs which are separated by a large yard.

The larger of the two units, located to the south of the site, comprises a 60,000 sq ft industrial unit with a minimum eaves height of 10m, 3 roller shutter doors and overhead crane facilities. Adjacent the southern boundary of the unit is a separate two storey office building totalling 10,336 sq ft. The building provides a mix of office and storage accommodation with W/C and kitchen facilities.

The smaller of the two units, to the north of the site, comprises a 15,000 sq ft warehouse with 9m eaves, 2 roller shutter doors and overhead crane facilities.

TENURE

999 year lease at a peppercorn.

SITE



Unit Superheater Engineering Limited (01734592)

25 December 2012

25 December 2013

25 December 2014

Turnover £7,943,812 £8,009,346 £7,134,013

Pre Tax Profit £100,286 £129,806 £94,696

Net Worth £1,659,351 £1,769,257 £1,853,484

EPC



ERV ERV (£psf)

Comments

Units 6/7 Visteon, Fabian Way Warehouse Unit Superheater Engineering Limited

15,000 08/01/2013 24/03/2032 25/03/2017 n/a £45,000 £3.00 £45,000 £3.00 Option to purchase before 2018 at the higher of £500,000 or OMV.

Superheater Factory, Crymlyn Burrows Industrial Unit Superheater Engineering Limited

60,000 20/11/2007 24/03/2032 25/03/2017 n/a £160,500 £2.68 £180,000 £3.00 Option to purchase before 2018 at the higher of £2m or OMV.

Suite 1,2,3 Office, Visteon Fabian Way

Office Unit Superheater Engineering Limited

10,336 25/03/2016 24/03/2032 25/03/2017 n/a £40,000 £3.87 £41,344 £4.00 Option to purchase before 2018 at the higher of £345,000 or OMV.

Total 85,336 £245,500 £2.87 £266,344 £3.12

TENANCY SCHEDULE

As hleigh Terrace

B4290 New Road

Baldwins Crescent

Elba Crescent

Ffordd Amazon

Ffordd Amazon

Hill V

iew

A483

Fabian Way

A483

A483

SWANSEAUNIVERSITYBAY CAMPUS

SWANSEA BAY

SWANSEA BAYGOLF CLUB

Elba Crescent

Works

AMNITEC LIMITED, UNIT 4, ABERCANAID, MERTHYR TYDFIL CF48 1UX3

MERTHYR TYDFIL

Factory River Taff


Lew

is Square

A4060

A470

A470

Pentrebach Road

A4054

Merthyr Road

RIV

ER TA

FF

Investment Rationale• Merthyr Tydfil is a key commercial area• Large site extending to over 6.79 acres• Tenant has been in occupation for over 26 years

• Low rent of £2.00 psf• Over 5 years remaining on the lease

LOCATION

The property is located in South Wales within the commercial town of Merthyr Tydfil approximately 22 miles (35.4 km) north of Cardiff and 30 miles (48.2 km) east of Swansea. Merthyr Tydfil is regarded as a key commercial centre and is currently the 10th largest urban area in Wales. The town is strategically located on the A470 dual carriageway, which provides direct access south to the M4 (Junction 32) and Cardiff city centre. Access to Swansea, to the West and the Midlands to the East is provided via the A465, which is subject to an ongoing upgrade programme that has seen significant portions of the road already upgraded to dual carriageway standard.

SITUATION

The property is located to the south of Merthyr Tydfil within an established industrial area adjacent the A470 and approximately 1.2 miles (1.9km) south of the town centre and Merthyr Tydfil Railway Station. The property is accessed via Merthyr Road which in turn provides direct access north to the town centre and south to the A470 dual carriageway. Surrounding nearby occupiers include; Booker, Citroen, Vauxhall, Speedy Hire and Kwik-Fit. Furthermore, the property is located with 0.5 miles of Cyfartha Retail Park with occupiers including; Halfords, Sports Direct, Home Bargains and PC World.

TENURE

Freehold.

DESCRIPTION

The property comprises three interlinked warehouse units with ancillary office accommodation and a separate storage facility totalling 126,293 sq ft (11,732 sq m). The buildings are located on a large rectangular shaped site with a large car park providing 130 spaces.

The main warehouse facility is of steel truss construction with part steel, part brick clad elevations beneath a double pitched steel clad roof. The unit benefits from a minimum eaves height of 5m as well as 4 roller shutter doors, blow heaters and fluorescent bay lighting. The main office accommodation is located to the eastern side of the main warehouse facility and benefits from W/C and kitchen facilities.

The two other units are located to the south and west elevations of the main warehouse and are linked via roller shutter doors. Both units are of steel portal frame construction with steel clad elevations beneath pitched steel clad roofs. The unit’s benefit minimum eaves heights of 7.5m as well as roller shutter access to the large yard area.

There is a small detached storage facility located to the southern edge of the site. The unit is of steel portal frame construction with a sloped, steel clad roof.

SITE



Amnitec Limited (10175050)

31 Dec 13 31 Dec 14 31 Dec 15

Turnover £8,280,000 £7,798,000 £8,914,000

Pre Tax Profit £215,000 -£258,000 -£117,000

Net Worth £716,000 £678,000 £561,000

EPC


TENANCY SCHEDULE


ERV ERV (£psf)

Comments

Unit 4 Abercanaid, Merthyr Tydfil CF48 1UX

Manufacturing/ distribution

Amnitec Limited 126,293 19/03/2015 19/03/2022 19/03/2017 n/a £252,500 £2.00 £252,500 £2.00 Schedule of condition.

Total 126,293 £252,500 £2.00 £252,500 £2.00

BLACKWOOD BUSINESS PARK, PONTLLANFRAITH, BLACKWOOD NP12 2XH

4

BLACKWOOD

i

19

A427

Sir Ivor Road

Newport Road

A427

Wor

ks

Sirhowy River


B425

1

B425

1

Bryn Road

Bryn

Roa

d

Heolddu Road

Highfield Road

Highfield Crescent

Gelli Lane

Gello-G

roes Road

Manor Road

Br

ynte

g Av

enue

Bryng

las

Ave

nue

Penl

lwyn

Lan

e

The Grove

Llanover Avenue

Cw

mal

sie

Cre

scen

t

Mill

Road

Alder Rise

Woodland Road

A472

A472

A472

Investment Rationale• Established Business Park occupying a large site• Let to 3 separate tenants

LOCATION

Blackwood is a town located within the historic county of Monmouthshire in South Wales, 15 miles (24.1 km) north of Cardiff, 14 miles (22.5 km) north west of Newport and 46 miles (74 km) east of Swansea. The town benefits from excellent road communications, being situated 9 miles north of Junction 28 of the M4 motorway. Blackwood benefits from a large catchment population within a 10 minute drive time.

SITUATION

Blackwood Business Park is situated to the south of Blackwood on the Gelligroes Roundabout which links the B4251 and the A472. The B4251 provides direct access to Blackwood town centre approximately 0.5 miles to the north and south to the A467 which in turn provides access south to the M4 (Junction 28). The property is situated on a large site. Directly to the south of the property is a large site occupied by Gryphonn Cement Factory used for production and trade of cement products.

DESCRIPTION

The property comprises three large warehouse units totalling 294,588 sq ft (27,426 sq m) situated on a large site with gated access off the B4251 Newport Road. Unit 1 is detached whilst units 2, 3 and 3a are semi-detached.

Unit 1 comprises a warehouse with two storey office accommodation totalling 105,587 sq ft (9,809.3 sq m). The main warehouse accommodation is of steel portal frame construction with brick elevations which have been over clad with profiled steel sheets. The warehouse has a part north-lit and part double pitched roof. The unit has a minimum eaves height of approximately 4m and benefits from 5 roller shutter doors. The office accommodation is located to front of the unit and is of concrete framed construction with brick elevations beneath a flat roof.

Unit 2 extends to 62,885 sq ft (11,716.5 sq m) and is mainly warehouse accommodation with 2 storey offices along a single elevation. The building is a concrete built industrial unit with part brick part profile clad elevations profile set beneath a roof that is of a multiple barrel vaulted design. It has a minimum eaves height of 7.5m.

Unit 3 provides a modern warehouse arranged over ground floor with two storey ancillary office accommodation totalling 126,116 sq ft (11,716.5 sq m). The main warehouse is of steel portal framed construction with part brick and part steel clad elevations beneath a flat steel roof with GRP roof lights. The unit benefits from roller shutter doors and 7.5m minimum eaves. The two storey office accommodation is located to the front of the warehouse along the eastern elevation. The offices are of modern specification including; carpeted flooring, comfort cooling and double glazing

Unit 3a is a high bay warehouse totalling 12,311 sq ft (1,143.71 sq m). The building is of concrete frame construction with brick elevation beneath a barrel-vaulted concrete roof with wire-glass roof lighting.

SITE

The property has a total site area of 26.14 acres (10.57 ha) providing a site coverage of 24.5%.

TENANCY SCHEDULE


ERV ERV (£psf)

Comments

Unit 1 Industrial Roydon Bottle Recycling Limited 105,587 16/10/2013 15/10/2028 16/10/2018 16/10/2023

15/10/2018 £100,000 £0.95 £100,000 £0.95 Capped Service charge at £17,500 reviewed annually to RPI. Rolling option to break if sprinkler system is required by law.

Unit 2 Industrial CCS McLays Limited 53,452 01/07/2010 30/05/2020 n/a £77,788 £1.46 £93,541 £1.75 Schedule of condition.

Unit 2b Offices CCS McLays Limited 9,433 At Will n/a £1.00 - £18,866 £2.00 Schedule of condition.

Unit 3/3a Industrial Hawker Siddeley Switchgears Limited 126,116 01/01/2017 31/12/2026 01/01/2022 01/01/2022 £400,000 £3.17 £400,000 £3.17 Lease renewal in solicitor’s hands(1). Schedule of condition.

Unit 2a, c & d Offices Vacant 7,541 £15,082 £2.00

Sub-Station Substation Western Power

302,129 £577,789 £1.91 £627,489 £2.07


Roydon Bottle Recycling Limited

31 October 2014 31 October 2015

Turnover

Pre Tax Profit

Net Worth (749,163) (898,575)

CCS McLays Limited (03602069)

31 March 14 31 March 15 31 March 16

Turnover £17,556,345 £19,056,012 £19,800,356

Pre Tax Profit £421,468 £538,932 £302,795

Net Worth £1,893,419 £2,314,062 £2,545,220

Hawker Siddeley Switchgear Limited

31 Dec 2013 31 Dec 2014 31 Dec 2015

Turnover £51,314,000 £49,475,000 £43,056,000

Pre Tax Profit £10,065,000 £10,777,000 £7,556,000

Net Worth £49,906,000 £60,317,000 £57,847,000

TENURE

Freehold.

(1) Internal repairing obligations only.

• Active management opportunities• The largest tenant accounting for 82% of the income has been

in occupation for in excess of 40 years and are a 5A1 tenantEPC


SMURFITT KAPPA UK LTD, DARREN DRIVE, UNIT 22, PRINCE OF WALES INDUSTRIAL ESTATE, ABERCARN NP11 5AR

5

ABERCARN

A467

A467

Da

rren Drive

Da

rren D

riveBrid

ge

Stree

t

Hig

h Stree

t

Com

me

rcia

l Roa

d

Ebb

w River


High Street

B4591

Bridge St

Darren D

rive

Darren D

r ive

Darren Drive

Rhyswg Road

Rhyswg Road

Rhyswg Road

Market Pl

D yffryn Ct

A467

A467

A467

Ebbw R

iver

Investment Rationale• Large site extending to over 13.9 acres• Tenant been in occupation for over 25 years

• Financially strong tenant being D&B 5A1• Low rent of £1.89 psf

LOCATION

The property is located within the town of Abercarn, South Wales, approximately 10 miles (16 km) north-west of Newport and 16 miles (25.7 km) from Cardiff. The town is located within the Ebbw Valley between Cwmcarn and Newbridge. Abercarn is strategically situated on the A467 which in turn provides direct access south to the M4 (Junction 28) and Cardiff.

SITUATION

The property is situated centrally within Abercarn just off the A467. The property is accessed via Darren Drive which in conjunction with Bridge Street forms the main industrial area of the town. Surrounding occupiers including; Travis & Perkins, Symonds Hydroclean and National Plastics.

DESCRIPTION

The property comprises a large detached industrial building with ancillary office accommodation totalling 131,228 sq ft (12,193.3 sq m). The unit is of steel portal frame construction with steel clad elevations and a dual pitched roof. The building is split into 3 sections which include the main production area, a large storage facility and a single storey office building.

The main production facility provides open plan industrial accommodation with a minimum eaves height of 4.8m and 4 roller shutter doors. The separate storage facility is linked to the main production area via a roller shutter and provides open plan accommodation with a minimum eaves height of 6m and roller shutter doors which leads to a large open canopy currently used as additional storage.

The office accommodation is formed along the eastern elevation of the main production facility and provides a single storey office building of brick construction. The offices are of a modern specification with W/C and kitchen facilities.

There is a small detached storage facility located to the southern edge of the site. The unit is of steel portal frame construction with a sloped, steel clad roof.

There is a large car park located to the eastern elevation of the property.

SITE

The property has a total site area of 13.9 acres (5.62 ha) providing a site coverage of 21.7%.


Smurfitt Kappa UK Ltd

31 Dec 13 31 Dec 14 31 Dec 15

Turnover £546,422,000 £583,938,000 £543,918,000

Pre Tax Profit -£19,984,000 £6,452,000 -£2,307,000

Net Worth £130,158,000 £102,500,000 £92,144,000

EPC


TENANCY SCHEDULE


ERV ERV (psf)

Comment

Unit 22 Darren Drive, Prince Of Wales Industrial Estate

Industrial Smurfit Kappa UK Ltd

131,228 12/08/2012 11/08/2017 n/a n/a £247,500 £1.89 £328,070 £2.50 New Lease terms being negotiated.

Total 131,228 £247,500 £1.89 £328,070 £2.50

TENURE

Freehold.

ZODIAC SEATS UK LTD, HENRY THOMAS HOUSE, LLANTARNAM, CWMBRAN NP44 3HB

6

CWMBRAN

Ty Coch Lane

Lakeside Close

Henry

Thomas House


Llantarnam Park Way

Llantarnam Park W

ay

New

port

Roa

d

Ty Coch Lane

Ty C

och Lane

Lakeside Close

Lake

Vie

w

William Brow

n Close

William Brown Close

A

4051 Ffordd C

wm

bran

Investment Rationale• Established industrial location• Modern industrial building with

associated office accommodation

LOCATION

The property is located in the town of Cwmbran approximately 6.5 miles (10.5 km) north of Newport, 16 miles (25.7 km) north east of Cardiff and 14 miles (22.5 km) south of Abergavenny. It sits within Torfaen, which is a county borough of South Wales. Torfaen has a population of approx. 91,000 and is the 3rd most densely populated county in Wales.

The town is strategically located with Junctions 26, 25 and 25a of the M4 motorway approximately 4 miles to the south, with access being provided via the A4051 and A4042 respectively. There is a regular direct train services from Cwmbran railway station to Cardiff and Newport with respective journey times approximately 30 minutes and 10 minutes.

SITUATION

The property is located to the south east of Cwmbran within Llantarnam Business Park which is regarded as one of the premier commercial locations on the M4 corridor. The property situated within a prominent position on Lakeside Close approximately 100 yards from Llantarnam Parkway which forms the main road running through Llantarnam Business Park. The tenant is very well established within Llantarnam Business Park occupying the neighbouring 110,000 sq ft industrial unit (Kestral House) as well as three further buildings within the business park.

DESCRIPTION

The property comprises a modern, detached warehouse with ancillary office accommodation totalling 24,273 sq ft (2,255.0 sq m). The building is of steel portal frame construction with a mix of profiled steel and brick clad elevations beneath a pitched steel roof. The office accommodation is located to the front of the building over ground and first floor and is of a modern specification benefiting from comfort cooling, double glazing, suspended ceilings and florescent bay lighting. The main warehouse is located to the rear of the offices and provides open plan industrial accommodation with a minimum eaves height of 5.4m and 5 roller shutter doors.

The property benefits from parking to front and side of the building. The car park leads directly to a large yard to the rear of the property which benefits from loading facilities to main warehouse.

TENURE

Freehold.

SITE



Zodiac Seats UK Limited (11253793)

31 Dec 13 31 Dec 14 31 Dec 15

Turnover £175,326,000 £215,350,000 £178,433,000

Pre Tax Profit £15,044,000 £35,377,000 £25,354,000

Net Worth £47,814,000 £55,740,000 52,401,000

EPC


TENANCY SCHEDULE


ERV ERV (£psf)

Henry Thomas Llantarnam Cwmbran NP44 3HB

Manufacturing Zodiac Seats UK Limited

24,273 02/06/2015 01/06/2025 02/06/2020 02/06/2020 £85,000 £3.50 £85,000 £3.50

Total 24,273 £85,000 £3.50 £85,000 £3.50

• Zodiac Seats UK are of strong financial standing being D&B 5A1• Zodiac Seats UK are an established tenant on the park

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 11.16

James Salmon020 7543 [email protected]

Guy Scott Plummer020 7543 [email protected]

Jeremy Hodgson020 7543 [email protected]

FOR FURTHER INFORMATION OR TO MAKE ARRANGEMENTS FOR VIEWING PLEASE CONTACT:

Offers in excess of £20,000,000 (Twenty Million Pounds) subject to contract and exclusive of VAT. This reflects a net initial yield of 9.10% and a potential reversionary yield of 9.93% after standard purchasers costs of 6.48% and reflects a low capital value of £23.48 per sq ft.

THE PROPOSAL

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