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WINGATESINDUSTRIAL ESTATE, BOLTON, BL5 3XP

MULTI-LET INDUSTRIAL ESTATE

M61 J6

a

M61 J5 aA6 Chorley RoadChorley Road

OAKWOODDISTRIBUTION /

TESCO

DIRECTHOUSE

STATESIDE FOODS

CATALENT

WERNERTEX

ALL METALS

DOLE

JP FRESH

AZZURI

CABLE WORLD

BID GROUP 500,000 SQ FT DESIGN & BUILD SITEBOLTON 6 - 61


INVESTMENT SUMMARY• Anexcellentopportunitytoacquireamulti-letIndustrialEstateintheNorthWestofEngland.

• 11unitsextendingto128,449sqftinunitsbetween6,074sqftand26,457sqft.

• Fullyletandproducing£504,830perannum,providinganaveragerentof£3.92persqft.

• LowCapitalValueof£34persqft.

• Thepropertyhasaweightedaverageunexpiredtermof4.5yearstoleaseexpiryand3yearstotenantbreakoptions.

Wehavebeeninstructedtoseekoffersintheregionof£4,340,000(FourMillion,ThreeHundredandFortyThousandPounds) subject tocontractandexclusiveofVAT. This reflectsanet initialyieldof11%assumingstandardacquisitioncostsof5.8%.

LOCATIONTheproperty is situatedon the establishedWingates IndustrialEstatewhichisstrategicallypositionedbetweenJunctions5and6oftheM61motorway.ThislinkswiththeM60andM62motorwaystothesouthand the M6 motorway to the north, providing excellent links to the nationalmotorwaynetwork.

The A6 trunk road provides direct access from the Estate to both junctionswhichareapproximately1.6kms(1mile)tothesoutheastand0.8kms(0.5miles)tothenortheast,respectively.Additionally,theA6provideslinkstoManchestercitycentretothesoutheastandPrestontothenorth.

SITUATIONThepropertybenefits fromexcellentprominence toGreatBankRoadwhichis themainestateroadwithinWingateswhichleadsdirectly totheA6trunkroad.

Wingates IndustrialEstateoffers an establishedbusiness environmentwiththeprincipleoccupiersincluding:Parcelnet,BOCEdwards,Tesco,StatesideFoods,Dabs.Com,CardinaleHealthandNewsquest. Totheeastandnorthofthesite,thelanduseispredominantlyresidential.


DESCRIPTIONThepropertycomprisesamodern,multi-letindustrialestate.

The Estate comprises 11 units. They are currently configured into 8 seperateunitswithvariedspecificationwhichincludes:

• Steelportalframeconstruction• Partbrickandpartmetalcladelevationsunderpitchedroofs• Eavesheightsbetween5mand6m• Individualloadingdoorstowarehouseareas• Separateentrancetointernalofficeandshowroomareas• Servicedareastothefrontoftheunitsincludingdesignatedcar parkingspaces• A number of the tenants have incurred significant capital expenditurebyfittingoutthebuildingstoahighstandard.

ACCOMMODATIONThe Estate provides 11,933 sq m (128,449 sq ft) of accommodationwithin8units.AfullbreakdownofthefloorareasisprovidedwithintheattachedTenancySchedule.

Theoverallsiteareaextendsto2.8hectares(7acres)andprovidesasitedensityofapproximately42%.


* The hatched area is the adopted highway.

BOLTON 6 - 61

REEBOK STADIUM

M6 / PRESTONa

M61 / MANCHESTER

a

MIDDLEBROOK RETAIL PARK

A6

Chorley Road

WESTHOUGHTON

TENUREWeunderstandthepropertyisheldlongleaseholdona999yearleasefrom2April1997atapeppercornrent.

TENANCYTheEstateisfullyletaspertheTenancySchedulebelowandhasacurrentpassingrentof£504,830perannum,reflectinganaveragerentof£3.92persqft.


Floor/Unit Tenant Area Rentpa(psf)

ERVpa(psf) %ofincome Lease

StartLeaseExpiry(Break)

RentReview Comments

Unit1 EaststoneLimited 6,074 £24,000

£3.95£24,296£4.00 5% 21/05/2010 20/05/2013 -

6monthsrentfree.£6,000rentdeposit.Optiontopurchaseatleaseexpiryforgreaterof£400,000orOMV.

Unit2/3 CanonPlasticsLtd 12,196 £53,650

£4.40£48,784£4.00 11% 03/05/2002 02/05/2012 -

Unit4&14 PearlWindowSystems 40,669 £150,000

£3.69£142,342£3.50 30% 19/11/2010 18/11/2020

(19/11/2015) 19/11/2015 Tenanthasanoptiontopurchasefor£2.3m+RPIuntilNovember2013.

Unit15 APPHLtd 26,457 £92,000£3.48

£92,600£3.50 18% 30/12/1988 29/12/2013 -

Unit17/18 TorexRetailHoldings 22,949 £89,680

£3.91£97,533£4.25 18% 01/06/1990 31/05/2015 01/06/2010 UnderlettoPhoenixITservicesuntil

31/1/2015atpassingrent.

Unit19/20 TorexRetailHoldings 13,141 £60,500

£4.60£59,135£4.50 12% 07/08/1990 06/08/2015 07/08/2010

Unit21 TorexRetailHoldings 6,963 £35,000

£5.03£33,074£4.75 7% 01/10/1990 30/09/2015 01/10/2010

Total 128,449 £504,830£3.92

£497,763£3.88

SERVICE CHARGEAll the leases are let on effective on full repairing and insuring terms. There is an estatechargewhichthetenantscontributetowards.Thebudgetforthecurrentyearis£14,250perannumwhichreflects£0.12persqft.

COVENANT INFORMATIONWehavesummarisedthefinancialinformationforthetenantswithintheEstatebelow.

TorexRetailHoldings(CompanyNumber06273940)Thistenantisresponsiblefor37%ofthepassingincome.Theyareacomputersoftwaredevelopmentcompanyandhaveagood ICCscoreof82/100 representingavery lowrisk.

Moreinformationaboutthetenantisavailableatwww.torex.com.

PearlWindowSystemsLimited(CompanyNumber3670150)Thistenantisresponsiblefor30%ofthepassingincome.Theywerefoundedin1999andareinvolvedinthefabricationanddesignofuPVCwindowsanddoors.TheyhaveanICCcreditscoreof60/100. This is theirprinciple tradingpremisesand theyhaveinvestedsignificantfundsinthisstateoftheartfacility.

Moreinformationaboutthetenantisavailableatwww.pearlwindows.co.uk

APPHLimited(CompanyNumber1972451)Thistenantisresponsiblefor18%ofthepassingincome.Theyareinvolvedinthedesignandmanufactureofaircrafthydraulicsystems.TheyhaveanICCscoreof69/100.

Moreinformationaboutthetenantisavailableatwww.apph.co.uk.

CannonPlasticsLimited(CompanyNumber4184628)This tenant is responsible for 11% of the total income. They are a privately owned company who have been established since 1973. They provide a specialist quality decorationservicethatspecialisesinthescreenprintingofplasticbottles,aerosolcapsandmetalanodisedcosmeticcomponents.TheyhaveanICCscoreof60/100.

Moreinformationaboutthetenantisavailableatwww.cannon-plastics.co.uk.

EaststoneLimited(CompanyNumber6408803)This tenant is responsible for 5% of the total income. They are involved in the manufactureandretailofpharmacyproductsforpatients.TheyhaveanICCscoreof47/100.

Moreinformationaboutthetenantisavailableatwww.eaststone.co.uk.


31/12/2010 31/12/2009 31/12/2008

Turnover N/A N/A £1,283,000

PreTaxProfit N/A N/A N/A

Shareholders’Funds £244,000 £242,000 £232,000

31/12/2010 31/12/2009 31/12/2008

Turnover £32,702,000 £38,372,000 £47,088,000

PreTaxProfit (£3,345,000) £873,000 £7,985,000

Shareholders’Funds £25,487,000 £28,313,000 £29,919,000

30/04/2011 30/04/2010 30/04/2009

Turnover N/A N/A N/A



31/01/2011 31/01/2010 31/01/2009

Turnover N/A N/A N/A



30/06/2011 30/06/2010 30/06/2009

Turnover £135,545,000 £160,568,000 £204,930,000

PreTaxProfit (£8,043,000) (£8,728,000) £70,263,000

Shareholders’Funds £41,753,000 £44,075,000 £46,448,000

ENVIRONMENTALAnenvironmentalassessmentofthepropertyhasbeenundertakenin2007whichconfirmedthatthepropertyrepresentedalowriskwithrespecttoenvironmentalconsiderations.

VATWeunderstandthatthepropertyiselectedforVATandthesalemaythereforebetreatedasatransferofagoingconcern(TOGC).

PROPOSALWeareinstructedtoseekoffersinexcessofof£4,340,000 (Four Million, Three Hundred and Forty Thousand Pounds)subjecttocontractandexclusiveofVAT.Thisreflectsanetinitialyieldof11%assumingstandardacquisitioncostsof5.8%.

FURTHER INFORMATIONForfurtherinformationortoarrangeaninspection,pleasecontact:

James Porteous Edward Blood Matthew Stretton+44(0)1612387408 +44(0)1612386212 +44(0)[email protected] [email protected] [email protected]

© Crown Copyright 2012. All rights reserved. Promap licence number 100020449. Jones Lang LaSalle licence number 100017659. This plan is published for the convenience of identification only and although believed to be correct is not guaranteed and it does not form any part of any contract.

Misrepresentations Act 1967 & DeclarationJones Lang LaSalle for themselves and for the vendors of this property whose agents they are give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Jones Lang LaSalle has any authority to make or give any representation or warranty whatever in relation to this property. May 2012.

0161 828 6440

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