freehold investment opportunity - Alder King
FREEHOLD INVESTMENT OPPORTUNITY DPD BUILDING, HAM STREET, BALTONSBOROUGH, GLASTONBURY, BA6 8QG
FIND OUT MORE
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
INVESTMENT SUMMARY •
Freehold
•
Unexpired lease term of 13.8 years
•
Long let specialist facility
•
Extensive yard with generous car parking
•
Tenant commitment to the site – they have been in occupation since 2004 and have future expansion plans
•
Long term potential for residential redevelopment, subject to vacant possession
•
We are instructed to seek offers in excess of £735,000 (Seven Hundred and Thirty Five Thousand Pounds) reflecting a net initial yield of 10% after purchasers’ costs of 5.37%.
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
TENURE, TENANCY & COVENANT
ACCOMMODATION
A361 NORWOOD PARK
SHEPTON MALLET
GALLERY
FURTHER INFORMATION
enlarge
EAST STREET
LOCATION
A361
BR EE CH
L
N
GLASTONBURY
The Property is situated on the eastern
PLOT STREET
YL LE AD BR
COXBRIDGE
SCO TT’S LN
EAST PENNARD
WEST BRADLEY
N
PARBROOK
adjoins
residential
and
open
SWANSEA
fields.
of
Somerset
and
has
amenities
including a public house, post offices, local
WEST TOWN S HA M
HA M
ST
BALTONSBOROUGH
T
EXMOOR NATIONAL PARK
STONE
LOTTISHAM
HORNBLOTTON
church and school. The village is within easy driving distance of the towns of Wells
BATH
A37
LOTTISHAM R D
district
BRISTOL
CARDIFF
Baltonsborough is a village in the Mendip
SWINDON
NEWPORT
HEMBRIDGE
outskirts of the village of Baltonsborough and
CHELTENHAM
GLOUCESTER
YEOVIL
BARNSTAPLE
CATSHAM
A303
YEOVIL
A386
Yeovil (14 miles), Bath (26 miles) and Taunton
A39
A39
(10 miles), Glastonbury (6 miles) and Street (5 miles) as well as the regional centres of
FROME GLASTONBURY
A37
A377
(25 miles). Other notable towns in the area include Sherborne (17 miles) and Castle Cary
There
are
good
communications
in
A30
the
area with the A303 located to the south at Podimore giving access to London and the
NEWQUAY
A390
Home Counties via the A303/M3/M25 route. Railway services in the area include mainline
A30
stations at Castle Cary with a service to London Paddington and from Sherborne to London Waterloo.
A30
A39
(9 miles).
TRURO
DARTMOOR NATIONAL PARK
EXETER EXMOUTH
A388 A38
BOURNEMOUTH WEYMOUTH
PAIGNTON
PLYMOUTH
ST AUSTELL
A394
PENZANCE
SAT NAV: BA6 8QG
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
DESCRIPTION The Property consists of a laboratory building together with greenhouses along the majority of the eastern boundary of the property. The site area is circa 0.77 hectares (1.90 acres). The laboratory building has offices and specialist clean rooms, an incubation chamber and ancillary accommodation including changing rooms, staff area and canteen. The majority of the individual rooms are finished with suspended tiled ceilings, painted plaster walls and carpet tiled or vinyl floor finishes. Lighting is provided by standard recessed lighting. The greenhouses have oil fired central heating and fluorescent strip lights. The laboratory areas are fitted with comfort cooling and the remaining areas have central heating. There is extensive car parking on a tarmac surfaced area with individually marked spaces on the west side of the greenhouses. The access road from Ham Street is shared with part of the residential development.
Plans are for illustrative purposes only.
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
ACCOMMODATION The accommodation totals 28,102 sq ft as follows:
Floor Ground
Description
Sq ft
Sq m
Laboratory and office
731
7,863
Greenhouses
1,880
20,239
2,611
28,102
TOTAL
PLANNING Class B1 (a) offices, research and development of products and processes, light industry appropriate in a residential area.
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE Freehold.
TENANCY The property is single let to DPD Limited for a term of 20 years from 12 August 2011 to 11 August 2031. The lease is fully repairing and insuring and there are four yearly upward only open market rent reviews. The current passing rent is £77,500 per annum (£2.75 per sq ft). DPD achieved consent earlier this year for a new facility on the adjacent site to the immediate east of their existing building. This is a proposed expansion which will effectively double the size of their existing facility. They have acquired the site and the development is planned to commence in spring 2018.
COVENANT INFORMATION DPD Limited (Co Registration Number 03851847) has been in occupation of the property since 2004. DPD (Date Palm Developments) is the market leader for the production of Date Palm plants by tissue culture. DPD has over 30 years’ experience in high quality production of Date Palm plants. For more information please visit: http://www.date-palm.co.uk/ Headline financial figures for the past three years are below: Year to Date
Turnover
Pre-Tax Profit
Shareholder’s Funds
31/03/2016
£1,523,585
£348,843
£1,618,063
31/03/2015
£1,586,848
£314,223
£1,436,796
31/03/2014
-
-
£1,194,675
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
FURTHER INFORMATION & INSPECTION ARRANGEMENTS EPC
For further information or to arrange an inspection,
A copy of the Energy Performance Certificate is available
please contact the sole agents:
on request. VAT The property is VAT elected and therefore VAT will be payable on the purchase price. However, we anticipate that the transaction will be treated as a Transfer of a Going Concern (TOGC).
Offers are sought in excess of £735,000 (Seven Hundred
Lucy Costain [email protected]
and Thirty Five Thousand Pounds) reflecting a net initial
0117 317 1108
Proposal
yield of 10% after purchasers’ costs of 5.37%.
Oli Stretton [email protected] 0117 317 1121 Pembroke House 15 Pembroke Rod Bristol BS8 3BA
Important: Alder King for themselves and for the vendors of this property, whose agents they are, give notice that: 1. The particulars contained herein are for guidance purposes only and do not constitute either part or whole of an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact, and must satisfy themselves as to their correctness. 3. No person in the employment of Alder King has any authority to make or give any representations or warranties whatsoever in relation to these properties. 4. No responsibility can be accepted for expenses incurred by intending purchasers in inspecting and considering the properties which are offered. Under the Control of Asbestos Regulations 2006 (CAR 2006), the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining or repairing it, may be under a statutory obligation to detect and manage any asbestos or asbestos related compounds contained within the property. Failure to comply with the CAR 2006 is an offence and could adversely affect the value of the property. The detection and management of asbestos and asbestos related compounds is beyond the scope of our expertise and does not form part of the services that we have agreed to provide in respect of the property. Accordingly: 1. Alder King do not accept any responsibility for, and you should not place any reliance on us in respect of, the detection and/or management of any asbestos and/or asbestos related compounds contained in the property. 2. We strongly recommend that you obtain advice from specialist environmental consultants in respect of asbestos related issues. February 2017, Subject to contract & exclusive of VAT.
Designed and produced by www.kubiakcreative.com 172777 10/17
FIND OUT MORE
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
INVESTMENT SUMMARY •
Freehold
•
Unexpired lease term of 13.8 years
•
Long let specialist facility
•
Extensive yard with generous car parking
•
Tenant commitment to the site – they have been in occupation since 2004 and have future expansion plans
•
Long term potential for residential redevelopment, subject to vacant possession
•
We are instructed to seek offers in excess of £735,000 (Seven Hundred and Thirty Five Thousand Pounds) reflecting a net initial yield of 10% after purchasers’ costs of 5.37%.
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
TENURE, TENANCY & COVENANT
ACCOMMODATION
A361 NORWOOD PARK
SHEPTON MALLET
GALLERY
FURTHER INFORMATION
enlarge
EAST STREET
LOCATION
A361
BR EE CH
L
N
GLASTONBURY
The Property is situated on the eastern
PLOT STREET
YL LE AD BR
COXBRIDGE
SCO TT’S LN
EAST PENNARD
WEST BRADLEY
N
PARBROOK
adjoins
residential
and
open
SWANSEA
fields.
of
Somerset
and
has
amenities
including a public house, post offices, local
WEST TOWN S HA M
HA M
ST
BALTONSBOROUGH
T
EXMOOR NATIONAL PARK
STONE
LOTTISHAM
HORNBLOTTON
church and school. The village is within easy driving distance of the towns of Wells
BATH
A37
LOTTISHAM R D
district
BRISTOL
CARDIFF
Baltonsborough is a village in the Mendip
SWINDON
NEWPORT
HEMBRIDGE
outskirts of the village of Baltonsborough and
CHELTENHAM
GLOUCESTER
YEOVIL
BARNSTAPLE
CATSHAM
A303
YEOVIL
A386
Yeovil (14 miles), Bath (26 miles) and Taunton
A39
A39
(10 miles), Glastonbury (6 miles) and Street (5 miles) as well as the regional centres of
FROME GLASTONBURY
A37
A377
(25 miles). Other notable towns in the area include Sherborne (17 miles) and Castle Cary
There
are
good
communications
in
A30
the
area with the A303 located to the south at Podimore giving access to London and the
NEWQUAY
A390
Home Counties via the A303/M3/M25 route. Railway services in the area include mainline
A30
stations at Castle Cary with a service to London Paddington and from Sherborne to London Waterloo.
A30
A39
(9 miles).
TRURO
DARTMOOR NATIONAL PARK
EXETER EXMOUTH
A388 A38
BOURNEMOUTH WEYMOUTH
PAIGNTON
PLYMOUTH
ST AUSTELL
A394
PENZANCE
SAT NAV: BA6 8QG
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
DESCRIPTION The Property consists of a laboratory building together with greenhouses along the majority of the eastern boundary of the property. The site area is circa 0.77 hectares (1.90 acres). The laboratory building has offices and specialist clean rooms, an incubation chamber and ancillary accommodation including changing rooms, staff area and canteen. The majority of the individual rooms are finished with suspended tiled ceilings, painted plaster walls and carpet tiled or vinyl floor finishes. Lighting is provided by standard recessed lighting. The greenhouses have oil fired central heating and fluorescent strip lights. The laboratory areas are fitted with comfort cooling and the remaining areas have central heating. There is extensive car parking on a tarmac surfaced area with individually marked spaces on the west side of the greenhouses. The access road from Ham Street is shared with part of the residential development.
Plans are for illustrative purposes only.
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
ACCOMMODATION The accommodation totals 28,102 sq ft as follows:
Floor Ground
Description
Sq ft
Sq m
Laboratory and office
731
7,863
Greenhouses
1,880
20,239
2,611
28,102
TOTAL
PLANNING Class B1 (a) offices, research and development of products and processes, light industry appropriate in a residential area.
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE Freehold.
TENANCY The property is single let to DPD Limited for a term of 20 years from 12 August 2011 to 11 August 2031. The lease is fully repairing and insuring and there are four yearly upward only open market rent reviews. The current passing rent is £77,500 per annum (£2.75 per sq ft). DPD achieved consent earlier this year for a new facility on the adjacent site to the immediate east of their existing building. This is a proposed expansion which will effectively double the size of their existing facility. They have acquired the site and the development is planned to commence in spring 2018.
COVENANT INFORMATION DPD Limited (Co Registration Number 03851847) has been in occupation of the property since 2004. DPD (Date Palm Developments) is the market leader for the production of Date Palm plants by tissue culture. DPD has over 30 years’ experience in high quality production of Date Palm plants. For more information please visit: http://www.date-palm.co.uk/ Headline financial figures for the past three years are below: Year to Date
Turnover
Pre-Tax Profit
Shareholder’s Funds
31/03/2016
£1,523,585
£348,843
£1,618,063
31/03/2015
£1,586,848
£314,223
£1,436,796
31/03/2014
-
-
£1,194,675
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
INVESTMENT SUMMARY
LOCATION
DESCRIPTION
ACCOMMODATION
TENURE, TENANCY & COVENANT
GALLERY
FURTHER INFORMATION
FURTHER INFORMATION & INSPECTION ARRANGEMENTS EPC
For further information or to arrange an inspection,
A copy of the Energy Performance Certificate is available
please contact the sole agents:
on request. VAT The property is VAT elected and therefore VAT will be payable on the purchase price. However, we anticipate that the transaction will be treated as a Transfer of a Going Concern (TOGC).
Offers are sought in excess of £735,000 (Seven Hundred
Lucy Costain [email protected]
and Thirty Five Thousand Pounds) reflecting a net initial
0117 317 1108
Proposal
yield of 10% after purchasers’ costs of 5.37%.
Oli Stretton [email protected] 0117 317 1121 Pembroke House 15 Pembroke Rod Bristol BS8 3BA
Important: Alder King for themselves and for the vendors of this property, whose agents they are, give notice that: 1. The particulars contained herein are for guidance purposes only and do not constitute either part or whole of an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact, and must satisfy themselves as to their correctness. 3. No person in the employment of Alder King has any authority to make or give any representations or warranties whatsoever in relation to these properties. 4. No responsibility can be accepted for expenses incurred by intending purchasers in inspecting and considering the properties which are offered. Under the Control of Asbestos Regulations 2006 (CAR 2006), the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining or repairing it, may be under a statutory obligation to detect and manage any asbestos or asbestos related compounds contained within the property. Failure to comply with the CAR 2006 is an offence and could adversely affect the value of the property. The detection and management of asbestos and asbestos related compounds is beyond the scope of our expertise and does not form part of the services that we have agreed to provide in respect of the property. Accordingly: 1. Alder King do not accept any responsibility for, and you should not place any reliance on us in respect of, the detection and/or management of any asbestos and/or asbestos related compounds contained in the property. 2. We strongly recommend that you obtain advice from specialist environmental consultants in respect of asbestos related issues. February 2017, Subject to contract & exclusive of VAT.
Designed and produced by www.kubiakcreative.com 172777 10/17
