WHINBANK PARK INDUSTRIAL ESTATE - Allsop ... INVESTMENT CONSIDERATIONS Whinbank Park Industrial Estate

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  • HIGHLY REVERSIONARY MULTI-LET INDUSTRIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

    WHINBANK PARK INDUSTRIAL ESTATE AYCLIFFE BUSINESS PARK, NEWTON AYCLIFFE, COUNTY DURHAM, DL5 6AY

    Outline for indicative purposes only.

  • INVESTMENT CONSIDERATIONS

    ■ Whinbank Park Industrial Estate forms part of the Aycliffe Business Park, the second largest industrial estate in the North East region, situated adjacent to Jct 59 of the A1(M).

    ■ Aycliffe Business Park is a key component of the North East economy extending to almost 1,000 acres and is the home of 500 companies employing 10,000 people.

    ■ The estate benefits from 24/7 on-site security, a major attraction to local occupiers.

    ■ Freehold.

    ■ Total site area of 18.78 acres (7.60 hectares) with 7.63 acres (3.1 Hectares) of potential development land.

    ■ The estate comprises 90 units with a total floor area of 285,239 sq ft (26,499.6 sq m) with individual unit floor areas ranging from 145 - 57,487 sq ft.

    ■ The estate is let to a total of 47 individual tenants and is currently 98% occupied.

    ■ WAULT: 3.51 years to expiry (2.24 to breaks).

    ■ The total contracted rent is £780,515 p.a., equating to £2.40 psf on industrial accommodation and £7.32 psf on office accommodation.

    ■ The total Net Operating Income (NOI) is £702,752 p.a.

    ■ Industrial accommodation has achieved sustained rental growth of late with significant additional short term reversion.

    ■ The property offers a purchaser numerous asset management opportunities including:

    • refurbishment and letting vacant units

    • negotiating the removal of tenant break options

    • relocating tenants within the extensive ownership

    • extending existing lease terms

    • development sites

    INVESTMENT CONSIDERATIONS

    ■ We are instructed to seek offers in excess of £7,000,000 (Seven Million Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.40% and a low capital rate of £24.54 psf.

    WHINBANK PARK INDUSTRIAL ESTATE AYCLIFFE BUSINESS PARK, NEWTON AYCLIFFE, COUNTY DURHAM, DL5 6AY HIGHLY REVERSIONARY MULTI-LET INDUSTRIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

  • Tees Port

    Port of Sunderland

    Port of Tyne

    Tees Valley

    Port of Hartlepool

    A66

    A19

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    A69

    A19

    A19 A68

    A1

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    A689A177 A688

    A691

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    A167

    A694

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    A174

    A1(M) HARTLEPOOL

    DARLINGTON

    BISHOP AUCKLAND

    NORTHALLERTON

    BARNARD CASTLE

    NEWCASTLE UPON TYNE NEWCASTLE UPON TYNE

    MIDDLESBROUGHMIDDLESBROUGH

    SUNDERLANDSUNDERLAND

    DURHAMDURHAM PETERLEE

    NEWTON AYCLIFFENEWTON AYCLIFFE

    COMMUNICATIONS Newton Aycliffe is situated adjacent to A1(M), the main north/south link road serving the region. The A1(M) provides a direct link to major centres including Newcastle upon Tyne (31 miles) and Edinburgh (136 miles) to the north and Leeds (63 miles) and London (250 miles) to the south.

    Intercity rail services are available from Darlington station providing quick access to major cities on the East Coast Main Line. Newcastle upon Tyne and Leeds can be reached in 30 minutes and one hour respectively. There are 3 direct rail services to London Kings Cross each hour with a fastest journey time of 2 hours and 21 minutes.

    Newton Aycliffe is well served by airports with Newcastle International Airport located 37.9 miles to the north and Durham Tees Valley Airport located only 11.1 miles to the south east. The town benefits from easy access to some of the UK’s busiest east coast ports including Teesport and the Port of Tyne.

    ROAD LINKS

    A1(M) 2.0 miles

    M6 55.9 miles

    M1 60.7 miles

    M62 70.0 miles

    PORTS

    Teesport 21.6 miles

    Port of Hartlepool 24.6 miles

    Port of Sunderland 31.0 miles

    Port of Tyne 32.7 miles

    AIRPORTS

    Tees Valley Airport 11.1 miles

    Newcastle Airport 37.9 miles

    Leeds/Bradford Airport 60.4 miles

    Edinburgh Airport 162 miles

    RAIL

    Durham 15 min

    Middlesbrough 26 min

    Newcastle upon Tyne 30 min

    London Kings Cross 141 min

    WHINBANK PARK INDUSTRIAL ESTATE AYCLIFFE BUSINESS PARK, NEWTON AYCLIFFE, COUNTY DURHAM, DL5 6AY HIGHLY REVERSIONARY MULTI-LET INDUSTRIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

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    A1 (M

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    To Newton Aycliffe Town CentreNewton

    Aycliffe Station

    To Durham &

    Spennymoor

    Aycliffe Village

    To Darlington

    Heighington Station

    To A6072

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    forrest park

    AYCLIFFE BUSINESS PARK Aycliffe Business Park, extending some 400 hectares (980 acres), is home to over 500 companies employing over 10,000 people and is the largest employment location in County Durham. (Source: ABPC, 2017)

    Major national occupiers include Gestamp Tallent, Hitachi Rail Europe, EBac, Tekmar, Husqvarna and Lidl. Engineering and manufacturing remain at the core of Aycliffe Business Park, however dozens more SMEs from the services and leisure sectors have come to the park in recent years. The result is a dynamic and a vibrant employment hub catering for a wide range of occupiers.

    The recently constructed £82 million Hitachi Rail Europe plant in Aycliffe has significantly enhanced the location and now employs over 1,100 people. Key projects include the assembly of Class 800 trains for Great Western Railway and Class 385 trains for ScotRail; the company has also recently been shortlisted for the £2.75bn HS2 rolling stock contract which may contribute towards a significant anticipated increase in staff numbers and on-site investment.

    Newton Aycliffe hosts a significant volume of off- shore contractors and manufacturers. Sub-sea and cable protection specialist Tekmar Energy Limited

    have been awarded multimillion pound contracts to supply TekLink cable protection systems (CPS), cable hang-off clamps (HOC) and cable joint protection products for the Hornsea ONE Project. The scheme will become one of the world’s largest offshore windfarms once operational in 2020, comprising 174 Siemens 7MW turbines.

    Car components manufacturer Gestamp Tallent employs over 1300 people at its Aycliffe plant. The company produce chassis structural and body components for the likes of Jaguar, Landrover, Volvo, Ford , BMW, Nissan and Honda, recorded a turnover of £517.6m in 2017.

    Stiller Warehouse and Transporting are long established in Aycliffe. Their 22 acre Aycliffe site stores goods and parts for local businesses and national brands including Gestamp and 3M. The company is investing £2m in a new 50,000 sq. ft. distribution centre and creating up to 25 new jobs on their site. This follows a recent acquisition by the company of a 70,600 sq. ft. modern warehouse unit on Grindon Way in Aycliffe in March 2017 at a rent of £3.25 per sq. ft.

    Husqvarna UK Limited recently produced its 1 millionth robotic lawnmower at their unit on the park.

    Outline for indicative purposes only.

    WHINBANK PARK INDUSTRIAL ESTATE AYCLIFFE BUSINESS PARK, NEWTON AYCLIFFE, COUNTY DURHAM, DL5 6AY HIGHLY REVERSIONARY MULTI-LET INDUSTRIAL INVESTMENT WITH DEVELOPMENT POTENTIAL

    Durham County Council’s commitment to the Park is evident in the preparatory ground and infrastructure works being carried out at Forrest Park, which will be a 52 hectare addition to Aycliffe Business Park. The Local Enterprise Partnership has invested £13m to provide power as well as access into the scheme. It will target large scale manufacturing and distribution occupiers, including potential rail freight interchange. Business Durham report that the site could see the creation of an estimated 3,200 jobs and deliver a Gross Value Added (GVA) boost of £495 million over the next twenty years.

  • TENANCIES The scheme is let in accordance with the Schedule of Accommodat