Freehold Industrial Investment

Multi Let Industrial investment opportunity

Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT020 7588 4433

Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT

Investment Considerations ■ Freehold

■ Established industrial estate

■ Located in the heart of Avonmouth industrial area

■ Redevelopment potential

■ Large site of 6.48 acres with low site cover of 24%

■ Total accommodation area of 64,021 sq ft (5,947sq m) and 38 HGV parking bays

■ Passing rent of £308,691 per annum

■ We are instructed to seek offers of £3,300,000 (Three Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, which reflects an attractive net initial yield of approximately 8.84%, with a reversion to 9.87% after purchaser’s costs of 5.80%. A purchase at this level reflects a low capital value of approximately £50 per sq ft.

A403

Jct 18A

M5

ASDA

CHEP

Proton Cars

Keuhne & Nagel

Accolade Wines

Nisbets

The Property

Honda

Budget Greeting Cards

Severnside Trading Estate

Richard Austin Alloys

Royal Edward Dock

Avonmouth Dock

Royal Portbury Dock

Location

Bristol is the largest city and most significant distribution location in the South West. The city is located approximately 118 miles (190 km) west of London, 88 miles (142 km) south of Birmingham and 44 miles (71 km) east of Cardiff.

Bristol benefits from excellent road links being situated close to the intersection of the M4, M5 and M49 motorways. The M5 links the south of the city to Exeter and Cornwall and Birmingham to the north. The M4 links Cardiff to the west and London to the east. The M49 joins the M5 at Junction 18 and provides a link to the M4 at Junction 22.

Bristol is an important industrial location and distribution centre, acting as a gateway to the South West and Wales while providing comprehensive links to the Midlands and London. Bristol benefits from excellent road, rail, sea and air transportation links.

Bristol International Airport is located approximately 9 miles (14 km) south of the city, accessed via the A38. Bristol has two mainline railway stations, Bristol Temple Meads and Bristol Parkway, with a journey time to London Paddington of approximately 90 minutes.

OXFORD

BRISTOL

A346

A420

A418

A433

A420

A455

A449

A429

A424

A338

A350

A361

A37

A34

A31

A33

A46

A48

A40

A44

A41A40

A46

A49

A38

A37

M4

M4

M4

M3

M3

M1

M1

M5

M5

M5

M50

M40

M40

M25

M25

M48

BRISTOL

AVONMOUTHSWINDON

SALISBURY

CARDIFFREADING

GLOUCESTER

BATH

WORCESTER

OXFORD

Newbury

Aldershot

Cirencester

HerefordEvesham

Milton Keynes

Aylesbury

High Wycombe

Maidenhead

Andover

Winchester

Chippenham

Newport

Frome

Bletchley

Farnham

Glastonbury

Barry

Windsor

St. Andrew’sRoad

Avonmouth

Shirehampton

Sea Mills

Poplar Way W

Mereban

k Road

Kings Weston Lane

B40

59 Hallen Road

Severn Road

Sta

tion

Roa

d

B40

57 K

ings W

eston Road

B40

55 Henbury Road

B40

54 H ig h Stre

et

A4018

Fa

lcondale Road

Passage R

oa

d

A41

62

Sylva n Way

Chi

tten

ing

Roa

d

St. A

ndre

ws R

oad

A40

3Sm

oke Lane

A4 Portway

M5

M49

M49

M5

Mere Bank

Drain

Sluice

DEAN

ROAD

BURCOTT ROAD

Dean Road Trading Estate

111b

111c

114

303b

1

Dean House

202d

111a

202b

203k

202a

202c

112

El Sub Sta

303a

311

309

6

302

301305

5

8

203b

116

203a

0m 25m 50m 75m

Ordnance Survey © Crown Copyright 2014. All rights reserved. Licence number 100022432. Plotted Scale - 1:1760© Crown Copyright, ES 100004106. For identification purposes only.

Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT

Situation

Avonmouth is located approximately 8 miles (13 km) north west of Bristol City Centre, accessed via Junction 18/18A of the M5 motorway. The M4/M5 interchange is around 6 miles (10 km) to the north east and Avonmouth Dock is within 0.5 miles (1 kilometre) and Portbury Dock is within 2 miles (3 km) of the estate.

The estate is located on Dean Way which is accessed via Burcott Road and links to the A403 (St Andrews Road) one of the principal arterial roads offering quick access to the to the 1.9 miles (3 km) from Junction 1 of the M5 which provides access to the M4 (Junction 22) and South Wales.

The property is situated between Cabot Park and Access 18 Avonmouth’s newest industrial scheme. Major occupiers in the immediate vicinity include; Costco Wholesale, John Lewis, CO-OP, Nisbets, Constellation Europe, Honda, Keuhne & Nagel, Superdrug and Robert Wiseman Dairies.

Description

The property occupies a large secure industrial estate with part of the service yard utilised for HGV trailer parking and secure open storage. The industrial / warehouse units are configured as 9 individual units arranged in 2 terraces providing a total GIA of approximately 60,663 sq ft (5,635 sq m) and an additional two storey office building providing a NIA of approximately 3,358 sq ft (312 sq m).

The secure yard area provides a designated HGV parking bays for 38 vehicles.

The industrial units are steel portal frame with part brick construction, part steel clad elevations rising to a pitched roof. Internally the units benefit from concrete floors, roller shutter doors and a minimum internal eaves height of 5.0m.

Site

The estate comprises a site of approximately 6.45 acres (2.61 hectares). This provides a low site cover approximately 24%.

Tenure EPC

Freehold EPC’s are available on request.

VAT

We understand the property has been elected for VAT and therefore VAT will be chargeable on the purchase price. We anticipate that the transaction will be treated as a transfer of a going concern (TOGC).

Development potential

In our opinion the site has potential for further development owing to the low site cover. Draft plans have been prepared which incorporates the construction of 6 further units to the site, details are available on request.

Unit Tenant Lease Start Lease End Area Sq ft Area Sq M Parking Spaces

Passing Rent £ psf ERV £ psf Comments

INDuSTRIAl

1 Clipper Logistics Group Ltd 17/02/2011 16/02/2016 9,980 927.70 12 £36,940 £3.70 £39,902 £4.00 Service charge cap of £2,500 p.a.

2 Sharps Brewery Ltd 01/10/2014 30/09/2019 6,738 625.90 £26,952 £4.00 £26,952 £4.00 TOB 01/06/15, Schedule of condition

3 Riverford Organic Vegetables Ltd 01/11/2014 31/10/2019 5,091 472.90 £20,000 £3.93 £20,364 £4.00 TOB on 01/11/2017 at any time 6 months notice, Schedule of condition.

4 U/o to Norbert Dentressangle 29/09/2014 28/09/2017 4,800 445.90 £20,000 £4.17 £20,000 £4.14 TOB 30/06/2016, Schedule of condition

5 Avonmouth Brake Centres Ltd 26/03/2013 25/03/2016 4,736 440.00 £37,000 £7.81 £37,000 £7.87

6 Lloyd Fraser Ltd 15/03/2010 14/03/2016 18,610 1,728.90 £50,300 £2.70 £69,787 £3.75 Schedule of condition

8A Harrow Green Ltd 01/01/2014 30/06/2014 4,240 393.90 £13,000 £3.07 £16,960 £4.00 Schedule of condition

8B F.P. & S. Parts & Service Ltd 26/04/2014 25/04/2019 2,949 273.90 £14,000 £4.75 £14,000 £4.75

8C P.J. Murphy 01/03/2011 28/02/2016 3,519 326.90 £9,969 £2.83 £14,076 £4.00

Sub total 60,663 5,635.50 £228,161 £259,041

offICES

1 J.D. Morgan Transport Ltd 01/03/2012 28/02/2015 529 49.10 £1,000 £1.89 £1,000 £1.89

2 Aquatonics UK Ltd 01/11/2014 31/10/2017 1,104 102.50 £6,630 £6.00 £6,630 £6.00 Inclusive of service charge

3 Harrow Green Ltd 01/05/2014 30/04/2015 200 15.60 £1,200 £6.00 £1,200 £6.00

4 Vacant 153 14.20 £1,000 £6.00

5 Security 2000 Ltd 01/01/2012 31/12/2017 1,190 110.50 £3,500 £2.94 £3,570 £3.00

6 Landlord's Store 82 7.61

7 Vacant 100 8.70 £1,000 £10.00

Sub total 3,358 310.60 £12,330 £14,400

yARD

1A Norbert Dentressangle Logistics Ltd 29/09/2014 28/09/2017 0 £25,000 £25,000 0.57 acres, £22,500 until 31/12/14. TOB 30/06/2016

Compound Clarks Bros Scaffolding 01/06/2014 31/05/2026 0 £12,000 £12,000 0.25 acres, £10,000 until 31/05/15

GF Portacabin Landlord's Store 1.00 0 £1,500

1st Portacabin Management/Security Office 1.00 0 1 £1,500

Sub total £37,000 £40,000

HGV SPACES

1-3 County Tyres 01/01/2014 31/12/2014 3 £3,600 £3,600

4 B D Shore 01/10/2014 30/09/2015 1 £1,200 £1,200

5 Scrivin Logistics 01/01/2014 31/12/2014 1 £1,200 £1,200

6 Norbert Dentressangle Tankers Ltd 01/07/2013 30/06/2014 1 £1,200 £1,200 Renewing

7-8 Harrow Green Ltd 01/05/2014 30/04/2015 2 £2,400 £2,400

9-12 Carlyne Transport 01/10/2013 30/09/2014 4 £4,800 £4,800 Renewing

13 Fire Assembly Point 0

14-15 Morgan Transport 01/10/2013 30/09/2014 2 £2,400 £2,400 Renewng

16-17 Hemmens Transport 01/12/2013 30/11/2014 2 £2,400 £2,400

18 Byrnes Transport 01/12/2012 30/11/2014 1 £1,200 £1,200

19-30 Clipper Logistics Group Ltd 12 Included in Unit 1 lease.

31-35 Norbert Dentressangle Transport 01/12/2013 30/11/2014 5 £6,000 £6,000

36 B McDanagh 01/04/2014 31/03/2015 2 £2,400 £2,400

37 Jason Scrivin 01/01/2014 31/12/2014 £1,200 £1,200

38 West Haulage Ltd 01/06/2014 31/05/2015 1 £1,200 £1,200

Sub total £31,200 £31,200

ToTAl £308,691 £344,641

Tenancies & Accommodation

Misrepresentation Act: 1. Allsop LLP and Haarer Goss on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop and Haarer Goss 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 or Haarer Goss nor any of their 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. Haarer Goss is the trading name of Haarer Goss LLP. Design: CommandD www.commandHQ.co.uk 11.14

Alex Butler 020 7543 6722 alex.butler@allsop.co.uk

Iain Biddlestone 01392 251 171 ijb@haarergoss.co.uk

For further information or to make arrangements for viewing please contact:

Mark Dansky020 7543 6813mark.dansky@allsop.co.uk www.allsop.co.ukwww.haarergoss.com

Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT

Proposal We are instructed to seek offers of £3,300,000 (Three Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, which reflects an attractive net initial yield of approximately 8.84%, with a reversion to 9.87% after purchaser’s costs of 5.80%. A purchase at this level reflects a low capital value of approximately £50 per sq ft.

020 7588 4433