UNITS 3 & 4NORTHPOINT BUSINESS CENTRE, HORTON ROADWEST DRAYTON, GREATER LONDON UB7 8JL
Industrial Investment
Investment Summaryn Excellent location to the west of central
London, close to Heathrow Airport
n Two modern warehouse units comprising approximately 41,670 sq ft
n Let on 2 leases to Solaglas Ltd (now Glassolutions Saint-Gobain Ltd) with Guarantee from multinational Saint Gobain Group providing a very strong covenant
n Unexpired term of essentially 13 years 6 months
n Passing rent £443,531 pax, equates to £10.63 per sq ft
n Offers of £5,986,000 reflecting a net initial yield of 7%
M25
A437
A437
A408
A408
A408A3044
M25
M4
M4
J4
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J15
J4
West Drayton Rail
Iver Rail
PARK VIEW ROAD
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HORTON R O AD
HIGH
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R OAD S
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THORNEY MILL ROAD
THE GR
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HEATHROW AIRPORT
Produced 15 Feb 2013 from the Ordnance Survey National Geographic Database and incorporating surveyed revision available at this date. Reproduction in whole or part is prohibited without the prior permissionof Ordnance Survey. © Crown Copyright 2013.
Ordnance Survey and the OS Symbol are registered trademarksof Ordnance Survey, the national mapping agency of Great Britain.
The representation of a road, track or path is no evidence of a right of way. The representation of features as lines is no evidence of a property boundary.
Meters
1:500
Supplied by: StanfordsReference: OI536335Centre coordinates: 506507 180177
Version 1.0 14012:14042MS PDF
LocationWest Drayton is strategically located to the west of Central London, in the London Borough of Hillingdon, and benefits from excellent road, rail and air communications being less than 1 mile from junction 4 of the M4 motorway, with immediate access to the M25 and Heathrow Airport.
Central London is approximately 26.9 Kilometres (16.7 miles) east and Heathrow Airport is located approximately 4.5 kilometres (2.8 miles) to the south. The main industries within the London Borough of Hillingdon include transport, distribution, hi-tech, catering and corporate and professional organisations. Companies located in the area include Gillette, IBM, Apple Computers, GlaxoSmithKline, Coca Cola Enterprises, H.J Heinz and United Biscuits.
SituationNorth Point is situated on Horton Road, which connects to the A408 (Stockley Road) dual carriageway, providing direct access to Junction 4 of the M4 approximately 1.6km (1 mile) to the south east of the property. The M4, in turn, links directly to junction 15 of the M25 London Orbital Motorway. Stockley Park is 0.25 miles to the east occupying 150 acres with 25 buildings which accommodate 165,000 sq m of high quality offices.
This is an established industrial location with a number of estates including Crown Business Centre, Liddall Way and Horton Industrial Estates. Occupiers nearby include; Berry BMW Dealership, Screwfix, John Guest, DK Tools, Mechanical Air Supplies, and Team Air Express.
DescriptionNorth Point comprises two industrial warehouse units forming part of a terrace of four, originally developed in 2000. Both buildings consist of ground floor distribution warehouse and storage area with approximately 15% ancillary and office accommodation based over two floors located adjacent to the left and front elevations of the building.
The buildings are of steel portal frame construction with a clear eaves height of 7.2 metres (22.97 ft) and profile metal sheeting and colour composite metal panel walls to the warehouses and partial brick elevations to the offices. Each building is surmounted by a corrugated metal sheet roof with a suspended ceiling, acoustic tiles and sound insulation throughout. Loading facilities are provided to the front of the units, with two electric roller shutter doors serving each unit, being 5.5 metres (16.4 feet) high, and 4m 913.12 feet) wide. Both units benefit from 20 car parking spaces and yard areas used for storage.
Northpoint Business Centre
Horton Road
Redruth
Padstow
Wadebridge
TintagelLaunceston
Looe Paignton
Dartmouth
SalcombeKingsbridge
Douglas
Ramsey
Peel
Castletown
Macduff
Inverness
Aberdeen
Portlethen
DundeeBlairgowrie
PerthOban
Glencoe
KirkcaldyBuckhaven
Bo'ness
Glenrothes
Stirling
Forfar
DunblaneAlloa
Denny
Callander
Kilsyth
Livingston
Biggar
Aberfeldy
Cupar
DunfermlineCowdenbeath
Falkirk
HelensburghStenhousemuir
GreenockGlasgow
Motherwell
Dumbarton
Hamilton Peebles
KilmarnockBrodick
Wick
Portskerra
Skerray
Mallaig
Ardvasar
Kyle
Dunbar
HaddingtonEdinburgh
Invergarry
Invermoriston
Tobermory
Stonehaven
Peterhead
Ellon
Dyce
Inverurie
Mintlaw
Fraserburgh
Lossiemouth
Elgin
ForresNairn
Dornoch
Achnasheen
Invergordon
Inveran
Johno' Groats
Thurso
FortWilliam
Arbroath
Carnoustie
Lunan
Ipswich
Stowmarket
Halesworth
Sudbury
Bedford
Chelmsford
Braintree
Tiptree
Croydon Ramsgate
Broadstairs
Crawley
MaidstoneCanterbury
FolkestoneTunbridgeWells
Brighton
Newbury
Monmouth
GreatMalvern
Hay-on-Wye
LlandrindodWells
Basingstoke
SalisburyWinchester
Wareham
Poole
YeovilCrewkerne
Newport
Barnstaple
Trowbridge
ChippenhamWeston
Super-MareBath
Clevedon
ChippingSodbury
Stroud
Bristol
Gloucester
SkegnessIngoldmells
Boston
FakenhamAylsham
Holt
King's LynnWisbech
Norwich
GreatYarmouth
LongSutton
E. Dereham
KetteringHuntingdon
Corby
Ely
Dorchester
Weymouth
BridportExeter
Crediton
Torquay
Plymouth
NewtonAbbot
Truro
Hayle
Newquay
Scunthorpe
Worcester
Brecon
Llandovery
Llanelwedd
Cwmbran Chepstow
Bridgend
CardiffPenarth
Barry
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Pembroke
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ChesterLincoln
Derby
Telford
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Aberystwyth Birmingham
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Taunton
Merthyr
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Bude
Penzance
Teignmouth
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Holsworthy
SouthMoltonGreat
Torrington
MilfordHaven
Fishguard
Cardigan
Hereford
Porthmadog
Caernarfon
Grimsby
Louth
Wragby
Dover
Deal
Sandwich
Margate
Colchester
Clacton-on-SeaFrinton-on-SeaWalton on the Naze
SouthwoldBungayThetford
Peterborough
Spalding
Chatteris
Stevenage
Aylesbury
Manchester
Stockport
RochdaleHuddersfield
Doncaster
Tavistock
Okehampton
Nottingham
Sheffield
Middlesbrough
BishopAuckland
Dumfries
Thornhill
GretnaDalbeattie Annan
Newcastle-upon-Tyne
Workington
Sunderland
Peterlee
Whitley Bay
Tynemouth
Hartlepool
Durham
Darlington
Lancaster
York
Harrogate
Leeds
Ripon
Preston
Bradford
Goole
NewGalloway
PenrithKeswick
ConistonRavenglassRichmond
AyrCumnock
New Cumnock
Moffat
Muirkirk
MayboleTurnberry
Scarborough
Pickering
Kingstonupon Hull
StranraerPortpatrick
Port LoganDrummore
Campbeltown
Hornsea
Whitby
Girvan
Ballantrae
Kirkcolm
Sanquhar
BanffBuckie
Huntly
TurriffKeith
Craigelliachie
Kinbrace
Altnaharra
Lochinver
Culkein
Balchrick
Ullapool
Gairloch BraemoreJunction
Durness
Lairg
Grantown-on-Spey
Rothes
Braemar
Laurencekirk
Drumnadrochit
Stornoway
Port of Ness
AviemoreKingussie
Newtonmore
Dalwhinnie
NeathLlanelli
St.Clears
LampeterTregaron
Tenby
Porthcawl
PontypriddPortTalbot
LlantwitMajor
Aberaeron
Aberdovey
Nefyn
Barmouth
Pwllheli Criccieth
Welshpool
Mablethorpe
Sutton-on-Sea
MarketRasen
Horncastle
Caistor
Coningsby
Kirkcudbright
Prestwick
Paisley
Kincardine
Melrose
Kelso
MorpethOtterburn
Prudhoe
Bodmin
Clovelly
Dunoon
Bridlington
Exmouth
Sidmouth
Honiton
Hunstanton
Montrose
Johnshaven
Helston
St. Ives
St Just FalmouthSt Mawes
Minehead
Burnham-on-Sea
Swanage
Petersfield
AldeburghWoodbridge
Leiston
Swaffham
Mildenhall
Brandon
Holbeach
WymondhamDownhamMarket
Diss
Beccles
Sheringham
Wells next the Sea
Beverley
Filey
Blyth
Belford
Amble
Kielder
Haltwhistle
Newbiggin-by-the-Sea
Coldstream
Eyemouth
North Berwick
St Andrews
BrechinPitlochry
Tongue
Banchory
Unapool
Irvine
LargsRothesay
Troon
Maryport
Allonby
WhitehavenSt Bees
Seascale
Whithorn
Glenluce
NewtonStewart
Lockerbie
Wigton
WetheralBrampton
Newport
IlfracombeLynton Lynmouth
NewtownKidderminster
Windermere
Cromarty
Lybster
Ulbster
Mybster
Brora
Westbury
Shaftesbury
Sherborne
LymeRegis
Bridgwater
Totnes
WellsGlastonbury
Wellington
Retford
Blackburn
Bury
Chesterfield
Whitchurch
Bury StEdmunds
Oxford
Machrihanish
Islay
Tiree
Barra
Benbecula
Stornoway
Belfast
Penzance Heliport
Plymouth
Newquay
Ballasalla
Cork
Waterford
Kerry County
Shoreham
Norwich
Cambridge
Dundee
Aberdeen
Wick
Swansea
GloucesterCheltenham
Lyneham
Inverness
Londonderry
Coventry
Birmingham
Kent Intnl.
London-City
Southampton
Humberside
Woolsington
Durham Tees Valley Airport
Newcastle International Airport
Edinburgh
Prestwick
Cardiff
Bristol
Exeter
EastMidlands
B'mouth
Luton
Heathrow
Guildford
Cheltenham
Cambridge
Luton
Reading
MiltonKeynes
Northampton
Maidenhead
Yeovil
Bristol
Bournemouth
LondonWest
DraytonM4 M5
M4
A3
A37
A46
A303
A12
M20
M20 M2
A31
M6A565
A19
A170
A66
M62
M1
M621M65
A1M
A1
M6
M6
M6
M 1
M 1
M1 1
M 1
M 1
M 1
M5
M3
M4
M42
M18
M69
M60
M42
M52
M56
M58
M62
M40
M40
M25
M25
M40
A1 (M)
M6
A1(M)
M6TOLL
SiteThe site, has a total area of approximately 3.67 acres (1.486 hectares).
EnvironmentalPhase I and II Environmental reports undertaken by WSP Environmental Limited conclude that the site is low risk in their opinion.
EPCThe following Energy Performance Asset Ratings have been awarded:
Unit 1 D
Unit 2 C
Unit 3 & 4 D
AccommodationThe units have been measured by Plowman Craven and have the following approximate gross internal floor areas:
Tenure Freehold.
Units 1 and 2 were sold off in 2003 on 999 year leases to D.K Tools. The ground rent is fixed at £100 pa per unit.
PlanningNorth Point is zoned in the Local Plan for use within classes B1 light industry, B2 General Industry and B8 Storage or Distribution.
The property shall not allow any goods vehicles with a weight exceeding 7.5 tonnes to operate between the hours of 23.00 and 06.00 on weekdays and 23.00 and 09.00 on weekends and Bank Holidays.
All mechanical loading/uploading operations on the site between 23.00 and 06.00 will be conducted within the units.
TenancyThe property is let by way of two coterminous FRI leases for a term of 25 years from 29 Sept 2001 expiring 29 Sept 2026 both to Solaglas Ltd with guarantee from Saint-Gobain Ltd. The unexpired term is essentially 13 years 6 months.
Unit 3 is let at a current rent of £201,978 pax and Unit 4 is let at £241,353 pax. The combined rent is £443,531 pax (Equating to £10.63 psf). Rent reviews are 5 yearly on an upward only basis.
Unit Description Gross Internal Areas
Unit 3 Sq m Sq ft
First Offices 119.3 1,284
Ground Warehouse 1,653.5 17,798
1,772.8 19,082
Unit 4
First Offices 222.8 2,398
Ground Warehouse 1,875.7 20,190
2,098.5 22,588
Total 3,871.3 41,670
Further InformationFor further information please contact:
David Holt
Tel: +44 (0)20 7079 [email protected]
:
James Young
Tel: +44 (0)20 7079 [email protected]
© Produced By: Barbican Studio 020 7634 9573 I March 2013Subject to Contract: All plans and photographs are for identification purposes only and are not to be relied upon.
Cavendish House18 Cavendish Square
London W1G 0PJ
Tel: +44 (0)20 7629 5527 Fax: +44 (0)20 7935 4086
ProposalWe are seeking offers of £5,986,000 (Five million Nine Hundred and Eighty Six Thousand Pounds) for the freehold interest subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7% allowing for costs of acquisition at 5.8%.
CovenantSolaglas Ltd/ Glassolutions Saint Gobain LtdOn 31 October 2010 the trade and assets of Solaglas Ltd (co no 02967249) changed its name to Glassolutions Saint Gobain Limited (co no 02442570).
The principal activities are the manufacture, processing, distribution and installation of double glazed units and other glass products for the domestic housing, commercial building and architectural markets.
The company operates as part of Compayne de Saint-Gobain’s Flat Glass Division.
To the year end 31 December 2011 the company reported the latest financial information:
Saint-Gobain GroupSaint-Gobain Group has been established since 1665 and is among the top one hundred industrial groups worldwide. With strong international representation, the group has over 190,000 employees in forty-six countries employed in its chosen areas of activity: glass, insulation, building materials, ductile pipes, containers, fibre reinforcements, industrial ceramics, abrasives and specialised distribution.
The leases are guaranteed by Saint-Gobain PLC (now ltd). This is a holding company to all the U.K,Irish and South African companies within the Saint-Gobain group. This company has a substantial balance sheet reporting total assets of £2.5bn and total equity of £1.3bn for the financial year to December 2011. Accounts are available upon request.
2011£’000
2010 £’000
Turnover 116,257 93,278
Profit/(loss) before income tax
5,530 9,774
Total Assets 57,004 53,656 VATThe property is elected for VAT and it is proposed that the sale will be treated as a Transfer of a Going concern (TOGC).
Misrepresentation Act 1967: Whitmarsh Holt Young for themselves and for the vendor or lessor of this property for whom they act, give notice that: a. These particulars are a general outline only for the guidance of prospective purchasers or tenants and do not constitute the whole or any part of an offer or contract. b. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely upon 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 employee of Whitmarsh Holt Young has any authority to make or give any representation or warranty whatever in relation to this property or these particulars, nor enter into any contract on behalf of the vendors. d. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold or withdrawn. e. Unless otherwise stated, all prices, rents and other charges are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or tenants must satisfy themselves independently as to the incidence of VAT in respect of any transaction. f. All plant, machinery, equipment, services and fixtures and fittings referred to in these particulars were present at the date of publication. They have not however, been tested and therefore, we give absolutely no warranty as to their condition or operation. g. The date of this publication is March 2013