Campbells Meadow Business Park
For Sale
Campbells Meadow Business Park Hardwick Road King’s Lynn
• • • •
Prime freehold industrial investment Established industrial location Modern purpose built premises Good access to A47 and Hardwick Road
Location Kings Lynn is well located at the junction of the A47/A10/A17 and A149. It is approximately 45 miles to the west of Norwich, 45 miles north of Cambridge and 35 miles north east of Peterborough. The town is home to a number of multi-national businesses including Palm Paper, Mars Foods, Bespak and Jaeger. Situation The property is located off Hardwick Road to the rear of the Tesco and Dobbies Superstore in an area known as Campbells Meadow Business Park. Hardwick Roundabout with access to the A47, A10 and A149 is located within 1 km of the premises. The site is close to other occupiers including: Pets at Home, Halfords, The Range and Currys PC World. Description The property is a self- contained warehouse/manufacturing facility which was constructed in 2014 and provides high quality facilities. The accommodation is constructed around a steel portal frame with insulated cladding to the roof and walls with brick and breeze block footings. The property benefits from: • Self-contained concrete yard with palisade fencing. • 7 electric roller shutter doors • Eaves to 7.5 metres Accommodation The property has a site area of 1.6 acres with the accommodation as below: Ground floor – 23,400 sq ft (2,174 sq m) First floor – 828 sq ft (77 sq m) Total – 24,228 sq ft (2,251 sq m) Tenure The property is let in its entirety to ITW Ltd for a term of 10 years from 10 November 2014 subject to a tenant only break at the end of the fifth year, on the payment of 12 months’ break penalty. The passing rent is £130,000. The property is owned freehold.
Covenant Information TITW Ltd (Company No 00559693) is the holding company of Fosters Refrigeration who occupy the premises. The accounts for the business are shown below: Year 2015 2016
Turnover (£) 520,137,000 534,205,000
Net Profit (£) 38,821,000 11,212,000
Shareholder Funds (£) 772,055,000 725,129,000
Energy Performance Certificate (EPC) The property has been given an EPC rating of B (42). VAT The property is elected for VAT and as such VAT will be payable on the purchase price. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). Proposal Offers are sought in excess of £1,500,000 (one million, five hundred thousand pounds), subject to contract and exclusive VAT. A purchase at this level would reflect a net initial yield of 8.157% assuming standard purchaser’s costs ( 6.3%). Viewing & Further Information Please contact the sole letting agents:
Contact: Sam Kingston Direct Dial :01603 756333 [email protected]
Important Notice: Roche Chartered Surveyors for themselves and for the Vendors or Lessors of this property, whose agents they are, give notice that: a) The particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute, nor constitute a part of, an offer or a contract. b) All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details, are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. c) No person in the employment of Roche Chartered Surveyors has any authority to make or give any representation or warranty whatever in relation to this property.
Campbells Meadow Business Park Hardwick Road King’s Lynn
• • • •
Prime freehold industrial investment Established industrial location Modern purpose built premises Good access to A47 and Hardwick Road
Location Kings Lynn is well located at the junction of the A47/A10/A17 and A149. It is approximately 45 miles to the west of Norwich, 45 miles north of Cambridge and 35 miles north east of Peterborough. The town is home to a number of multi-national businesses including Palm Paper, Mars Foods, Bespak and Jaeger. Situation The property is located off Hardwick Road to the rear of the Tesco and Dobbies Superstore in an area known as Campbells Meadow Business Park. Hardwick Roundabout with access to the A47, A10 and A149 is located within 1 km of the premises. The site is close to other occupiers including: Pets at Home, Halfords, The Range and Currys PC World. Description The property is a self- contained warehouse/manufacturing facility which was constructed in 2014 and provides high quality facilities. The accommodation is constructed around a steel portal frame with insulated cladding to the roof and walls with brick and breeze block footings. The property benefits from: • Self-contained concrete yard with palisade fencing. • 7 electric roller shutter doors • Eaves to 7.5 metres Accommodation The property has a site area of 1.6 acres with the accommodation as below: Ground floor – 23,400 sq ft (2,174 sq m) First floor – 828 sq ft (77 sq m) Total – 24,228 sq ft (2,251 sq m) Tenure The property is let in its entirety to ITW Ltd for a term of 10 years from 10 November 2014 subject to a tenant only break at the end of the fifth year, on the payment of 12 months’ break penalty. The passing rent is £130,000. The property is owned freehold.
Covenant Information TITW Ltd (Company No 00559693) is the holding company of Fosters Refrigeration who occupy the premises. The accounts for the business are shown below: Year 2015 2016
Turnover (£) 520,137,000 534,205,000
Net Profit (£) 38,821,000 11,212,000
Shareholder Funds (£) 772,055,000 725,129,000
Energy Performance Certificate (EPC) The property has been given an EPC rating of B (42). VAT The property is elected for VAT and as such VAT will be payable on the purchase price. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). Proposal Offers are sought in excess of £1,500,000 (one million, five hundred thousand pounds), subject to contract and exclusive VAT. A purchase at this level would reflect a net initial yield of 8.157% assuming standard purchaser’s costs ( 6.3%). Viewing & Further Information Please contact the sole letting agents:
Contact: Sam Kingston Direct Dial :01603 756333 [email protected]
Important Notice: Roche Chartered Surveyors for themselves and for the Vendors or Lessors of this property, whose agents they are, give notice that: a) The particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute, nor constitute a part of, an offer or a contract. b) All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details, are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. c) No person in the employment of Roche Chartered Surveyors has any authority to make or give any representation or warranty whatever in relation to this property.
