ROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
WELL LET HIGHLY REVERSIONARY INDUSTRIAL INVESTMENT
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
INVESTMENT SUMMARY• 20 year lease without break until 23rd October 2033
• Extremely low rent passing £152,000 per annum (£2.67 per sq ft)
• Rent review October 2023 (ERV in excess of £4.50 per sq ft)
• Offers sought in excess of £3,000,000 exclusive of VAT. A purchase at this level reflects an attractive netinitial yield of 4.76% (assuming purchasers costs of 6.45%) and a reversionary yield of 8.04%.
• Mitras Automotive are part of the Senata GmbH Group
• Tenant has invested approximately £2,500,000 fitting out the facility
• Low Capital Value of £52.63 per sq ft
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
LOCATION
The premises are situated at the northern end of Road One on Winsford Industrial Estate.
The Estate is situated one-mile east of Winsford town centre, just off the A54 Middlewich Road, with access to the M6 at Junction 19 (11 miles to the north east) and Junction 18 (5 miles to the south east).
Road One is currently experiencing extensive infrastructure improvements which will open up much needed development land. As part of the works a new petrol filling station and associated convenience offer will be developed. The industrial estate is experiencing record levels of occupancy and growth.
For further information on these major improvements to the Industrial Estate please refer to www.winsfordgateway.co.uk
45
A61
A628
A630
A1(M)
M18
1115
61
1021A
291
121
41
10 14
M56
M53
M6
M6
M6
M6
M61
M65
M65
M66 M62
M67
M6M55
M58
M60
M62M62
12
11
11
10
7
10
5
23
4
4 4
4
5
5
5
6
6 7
8 910
11
12
13
14
8
6
7
1
3
9
9
1011
14
1617
19
19
20
20
21
21
22
20
21
22
23
24
25
26
27
28
30
29
31
32
19
18
17
16
15
14
8 6
65
54
3 3
3
3
2
3
3
34
1
3
2
1
2 2
27 2625
24
23
12
98
765
4
3
2
1
M56
M61
38
37
35
36
34
32
31
30
29
33
34
36
35
37
42
38
39
40
41
1
2
3
29
30
32
4344 45
22
6
7
4
M6 Toll
M54
M1
M180
M180
M161
M62
A1M
29a
28
27
26
23
21
22
BOLTONBURY
WALKDENWardley
SALFORD
Horwich
ROCHDALE
BlackburnPreston
Ormskirk
Blackpool
MANCHESTER
OLDHAM
Huddersfield
WIDNES
ELLESMERE PORT
WALLASEY
MORETON
HESWALL
Speke
ST HELENS
CONGLETON
STOKEON-TRENT
Stone
Sta�ord
NANTWICH
WREXHAM
NORTHWICHNORTHWICH
MIDDLEWICHMIDDLEWICH
WINSFORDWINSFORD
KINGSLEYKINGSLEY
HOLMES CHAPELHOLMES CHAPEL
LIVERPOOL
FLINT
Rhyl
Rhuddlan
Denbigh
Ruthin
CorwenLlangollen
St. Asaph
Colwyn Bay
Llandudno
River Mersey LiverpoolJohn Lennon
Airport
ManchesterAirport
CHESTER
Prestatyn
Llanfairfechan
Llanrwst
CHORLEY
BuckshawVillage
LEYLAND
SHEFFIELD
BRADFORD LEEDS
Wakefield
Rotherham
Barnsley
NOTTINGHAM
Derby
Loughborough
LEICESTER
Lincoln
York
Lancaster
Harrogate
Scarborough
Yorkshire Dales National Park
North York MoorsNational Park
Telford
Shrewsbury
Grimsby
Scunthorpe
Doncaster
Chesterfield
Mansfiueld
Peak DistrictNational Park
Oakham
Nuneaton
Bridlington
Pocklington
MarketWeighton
Selby
Beverley
Hemswell Cli�
Bawtry
Sleaford
KINGSTON UPON HULL
Snowdonia National Park
A5117
A55
A55
A55
A41
A557
A557
A533
A533
A533
A562
A580
A580
A58
A6
A6
A56
A59
A59A6A583
A583
A587
A584
A671
A58
A58
A53
A666
A666
A646
A629
A644
A6010
A627
A628
A523
A5300
A56
A56
A556A537
A537
A537
A513
A53
A34
A34
A34A534
A530
A34
A525
A519
A519
A518
A518
A51
A51
A41
A5013
B5405
A53
A51
A51
A49
A534 A534
A41A500
A500
A527
A50
A53
A523
A623
A520
A520A34
A34
A54
A41
A51
A54
A540
A553
A49
A54
A556
A49
A556
A494
A494
A5
A5
A494A470
A548
A525
A547
A541
A544
A548
A548
A473
A50
A5119
A55
A5
A5
A470
A6120
A63
A1
A629
A647
A650
A629
A64631
3334
38
37
35
5
23
4
5
46 47
43
26
25
24
23
1
3
227
28 29
1
23
45
44
M606M621
M62
M1
A58
A1
A15
A1
A1
A46
A47
A57
A631
A15
A180
A15
A164
A165
A1079
A1079
A1079
A1237
A1237
A64
A19 A64
A614
A19
A63A63
A166
A64
A166
A614
A614
A165
A1035
A63A63
A15
A159
A631A631A631
A46
A46
A16
A1103
ROAD FIVE HOLMES CHAPEL R OAD
A533
A530
CLIVE
G
R EEN RD
A53
A53
B5
35
5
A533
A5
33
RO
AD
ON
E
A5
30
KIN
G S
TR
EE
T
B50
81
KN
UTS
FOR
RD
WINSFORDTRAIN STATION
MIDDLEWICHWINSFORD
HOLMESCHAPELJ18
M6
M6
A54
The Property
The Property
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
THE PROPERTYThe property comprises a detached manufacturing/warehousing facility with prominent frontage onto Road One.
The original building is of steel frame construction under a north light roof. The elevations are clad in brickwork to the lower sections with insulated cladding to the upper sections and roof. The production area has a clear eaves to 5 metres. Access is provided by level access and dock level doors and servicing for HGV’S to the rear, with a secure yard and compound.
The property was extended in 2012/2013 to provide additional warehousing capability at the southern end of the site. The warehouse is of steel portal frame construction being clad with insulated steel sheet cladding to the elevations and roof. Loading is provided to the southern elevation by way of a sectional loading door giving access to a loading bay. The extension has an eaves height of 7 metres. To increase capacity the tenant has constructed a mezzanine floor.
Two storey office/staff accommodating is constructed adjacent to the northern elevation which is accessed directly from Road One. The offices have a large dedicated tarmacadam car park. The offices provide a good mix of welfare facilities for office and operational staff along with open plan and cellular offices. The offices have been recently modernized by the tenant.
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
ACCOMMODATIONGross Internal Area of 57,000 sq ft (5,295 sq m).
Mezzanine floor 9,000 sq ft (836 sq m) - Tenant fit out.
The site area (shown edged red on the lease plan) extends to 1.1 ha (2.6 acres) approximately.
Navigation Park
Navigation Park
3
El Sub Sta
El Sub Sta
2
6
9
1
10 to 11
4
12
0m 10m 20m 30m
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
LEASEThe property is occupied by way of a lease to Mitras Automotive (UK) Limited.
The lease is for a term of 20 years with effect from 23rd October 2013.
The current rent passing £152,000 per annum (low rent of £2.66 per sq ft).
The user permits light and general industrial and warehouse uses within B1/B2 or B8 of the Use Classes Order.
A rent review is due on the tenth anniversary of the term - October 2023 - ERV £4.50 per sq ft plus.
The tenant’s liability to repair is limited by reference to a schedule of condition.
Mitras Automotive (UK) Ltd have a Experian Rating of “Very Low Risk” and Dun & Bradstreet Rating of 2A2.
Sentra GmbH
Senata GmbH is an owner-operated, completely self-financed holding comprised of medium-sized companies. The head office is located in the cathedral town of Freising near the Munich airport. From here, senata is operating worldwide. The sole partner and executive manager is Dr. Werner Folger.
For more than 25 years, the senata group of companies has been growing by expanding and investing in medium-sized companies in the metal and plastics industries and has been strategically developing both the companies and its portfolio. Every effort is always seen in the long term and not made from a short-term profit point of view. Financial stability is the greatest good – ahead of growth and size.
Currently, senata has fourteen subsidiaries involved in the operational business in Germany, Italy, Spain, and the United Kingdom, as well as license partners in China, India, and Mexico. Among other things, the group’s companies offer hot pressing and injection moulding, metal working, and the production of semi-finished products. The subsidiaries of senata operate independently and autonomously, yet in cooperation with their sister companies, making the group very effective.
COVENANTMitras Automotive (UK) Limited
Mitras Automotive (UK) Limited is a supplier of components and modules for the automotive and industrial market. The company is a wholly owned subsidiary of Senata Gmbh which has a group turnover of 300M Euros and employs 1,600 people.
Mitras Automotive’s core business involves the manufacture of automotive components. Their customer base includes Aston Martin, Case New Holland, JCB, Volvo, Bobcat and DAF Trucks.
The Company has two facilities in Winsford, both on Road One. The Company own the freehold interest in their other facility on Road One which is used for the manufacture of automotive components.
The subject unit has been fitted out with a fully automated paint spraying facility used to finish products which are manufactured on the sister site.
Mitras UK Ltd 31st Dec 2018
31st Dec 2019
31st Dec 2020
Turnover £22,115,484 £21,866,763 £14,292,327
Net Profit £1,687,881 £1,942,251 £255,091
Shareholders Funds £1,417,866 £3,435,017 £3,676,438
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
WINSFORD LEASEHOLD INDUSTRIAL COMPARABLESDate Unit Sq Ft Lease Term Rent Rent PSF
August 2020 Weston Hall, Crewe 27,000 2 year £192,000 £7.10
April 2020 Q110, Crewe 112,920 5 year £705,750 £6.25
Nov 2019 Unit 1 Midpoint, Middlewich 26,950 10 years £161,500 £6.00
August 2019 Unit 42, Midpoint, Middlewich 24,820 10 years £173,000 £6.97
Sept 2019 Unit 1, Apollo Park, Crewe 43,663 12 years £282,500 £6.47
June 2019 Unit 4, Apollo Park, Crewe 36,978 11 year £232,960 £6.31
The rent passing is extremely low and we would assess the ERV to be a minimum of £4.50 per Sq Ft which will be crystalised upon review in October 2023.
The industrial sector is experiencing rental growth and extremely low stock levels. Winsford and the surrounding industrial estates in Crewe, Middlewich, Chester & Knutsford are no exception. Therefore we see the subject properties credentials for rental and capital growth as particularly attractive.
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
FOR SALEROAD ONE, WINSFORD INDUSTRIAL ESTATE, WINSFORD, CW7 3RL
ACCOMMODATION LEASE & COVENANTS MARKET COMPARABLES GALLERY FURTHER INFORMATIONINVESTMENT SUMMARY LOCATION THE PROPERTY
EPCThe property has an energy performance rating of D(95). A copy of the certificate is available upon request.
VATThe property is elected for VAT and it is the intention to treat this transaction as a Transfer of a Going Concern (TOGC).
Misrepresentation Act 1967. Unfair Contract Terms Act 1977 The Property Misdescriptions Act 1991. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to rely. Neither the agent nor any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. April 2021. RB&Co 0161 833 0555. www.richardbarber.co.uk
BEN LAMONT 07825 785 040 [email protected]
VIEWING/ FURTHER INFORMATIONStrictly by appointment with the Sole agents:
MATT POCHIN 07831 445 009 [email protected]
PROPOSALOffers in excess of £3,000,000 subject to contract and exclusive of VAT.
A purchase at this level would reflect the following yield profiles:
Net Initial Yield: 4.76%Equivalent Yield: 7.29%Reversionary Yield: 8.03%
TOGCIt is intended that the property will be sold as a TOGC.