Tredegar Business Park Tredegar NP22 3EL

Transcription

1 Tredegar Business Park Tredegar NP22 3EL

2 Investment Considerations Wales British Gas installation, service and maintenance training facility. Let to GB Gas Holdings Limited (D&B 5A1). A modern BREEAM Excellent industrial and part office facility completed in 2009 providing a single storey workshop and two storey office. 10 year full repairing and insuring lease from 1st November Total rental of 105,000 per annum ( per sq m / 3.45 per sq ft). Occupiers in the vicinity include The Valleys Information Technology Training and Communications Centre (VITCC), Camtronics Vale Limited, LIDL and the Gwent Shopping Centre. Freehold 2, sq m (30,348 sq ft) facility on a site area of 0.76 ha (1.89 acres). 45 on site car spaces providing a ratio of 1:62.62 per sq m (1:674 per sq ft). We are instructed to seek offers in excess of 950,000 (Nine Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would equate to a net initial yield of 10.45% subject to usual purchaser s costs of 5.80% and reflects an attractive capital value of per sq m ( per sq ft). SUBJECT TO CONTRACT & EXCLUSIVE OF VAT

3 A479 A4215 Brecon A40 BLACK MOUNTAINS Ross-on-Wye Neath SWANSEA 42 Port Talbot BRECON BEACONS NATIONAL PARK A4221 Glyn- Neath 37 A4061 A4059 A470 Hirwaun Aberdare 36 Tonypandy Tonyrefail Bridgend A4059 A4058 Llantrisant 35 To Merthyr Tydfil A4119 Cardiff International Airport Tredegar Merthyr Tydfil 34 A470 Pontypridd A A4232 A4050 Ebbw Vale 32 A4046 A469 Barry A467 Blaina A467 A468 Caerphilly 30 HEADS OF THE VALLEYS ROAD A4042 CARDIFF Abergavenny Weston-Super-Mare A40 A449 NEWPORT BRISTOL CHANNEL Raglan Pontypool Cwmbran Usk Chepstow A370 A466 Monmouth A40 A S E V E R N BRISTOL A38 8 Avonmouth A M32 19 A4 14 LOCATION The 12property is located in Tredegar which is a small valleys town in 13 south east Wales, situated 6 miles east of Merthyr Tydfil and accessed via the (Heads of the Valleys Road) and 30 miles north of Cardiff. The nearest train station is in Rhymney which lies approximately 3 miles to the west of Tredegar. Rhymney station is on the South Wales valleys line with regular services connecting direct to Cardiff city centre. Tredegar has a population of approximately 15,000 and is in a category a or tier 1 grant assisted area. Tredegar is located circa 260 km (162 miles) west of London and 48 km (30 miles) north of Cardiff via the A470 and, and approximately 70 km (43 miles) north east of Bridgend. Tredegar benefits from excellent access to the dual carriage way which provides excellent connectivity to the rest of Wales and England via the A470 and. Junction 32 of the motorway is some 40 km (25 miles) to the south of Tredegar along the A470. The 0 which gives good access to the is 64 km (40 miles) to the east of Tredegar along the A40. In turn the gives good access to the Midlands and the north of England. Ashvale Dukestown A4048 To Ebbw Vale BEAUFORT ROAD A4047 Sirhowy Cardiff Airport is located approximately 62 km (39 miles) to the south and Bristol Airport circa 93 km (58 miles) east providing daily flights to both domestic and international destinations. SITUATION Tredegar Patch TREDEGAR HOSPITAL NEWPORT RD SIRHOWY VALLEY WALK Georgetown Tredegar Business Park is well located with good access via the (Heads of the Valleys Road) dual carriageway, in an area developed as a business park near to the town centre of Tredegar. The site benefits from direct access to both south Wales and the west of England. There is an undeveloped site to the rear of the subject property which is the subject of a planning application for further industrial development. There are only two other buildings on the business park, one of which is VITCC measuring circa 10,430 sq ft which is a serviced office with tenants including Penn Pharma and Communities First. The other building is understood to be owned by the occupier Camtronics Vale and measuring circa 25,000 sq ft. CAR PARK YARD SCHOOL LEISURE CENTRE A4048 The nearest trading estates include Tafarnaubach and Rassau, together with the estates at Merthyr Tydfil. These competing locations offer a number of large industrial premises, although these tend to be mainly older and of poorer specification when compared to this property. Sat Nav: NP22 3EL To Junction 28

4 DESCRIPTION The property offers 2,819.4 sq m (30,348 sq ft) gross internal area of accommodation and is of steel frame construction with a two storey glazed area to the front, with clad elevations to the side and rear and an insulated clad roof. We are advised the building is designed to BREEAM Excellent specification. Internally, the property is split into two large workshops linked to the office area via a central corridor. There is a reception area at the main entrance to the building which leads to both the office and workshop accommodation. The specifications for each workshop include: - Max eaves height of 7.69 m (25.23 ft) and minimum eaves of 5.43m (17.81 ft) - Electric up and over roller shutter door - Concrete screed floors - Painted brick elevations - Translucent domed roof panels to the centre The office accommodation benefits from: - Perimeter trunking - Double glazed aluminium framed windows - Plastered and painted walls - Wall mounted radiators - Suspended ceilings with recessed lighting - Carpeted flooring Externally there is a chain linked fence to the perimeter of a secured gated compound, which is adjacent to the workshops at the rear of the premises. Parking The car park provides 45 spaces including three disabled spaces, with a barrier controlled entrance. This provides for a ratio of 1:62.62 per sq m (1:674 per sq ft). SITE The property extends to approximately 0.76 ha (1.89 acres) as edged in red on the Ordnance Survey extract.

5 ACCOMMODATION The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following approximate gross internal floor areas: Building Floor Sq m Sq ft Workshop 1 Ground ,071 Workshop 2 Ground ,056 Office Ground ,014 First ,913 Corridor Ground ,147 First ,147 Total GIA 2, ,348 COVENANT INFORMATION GB Gas Holdings Ltd ( ) D&B Rating 5A1 GB Gas Holdings Ltd is the investment holding and management company for Centrica Plc. Centrica was created in 1997 when British Gas Plc demerged into Centrica Plc and BG Plc. The demerger grouped British Gas gas supply, services, retail businesses and gas production business under Centrica. Centrica, via the British Gas and Scottish Gas brands, is the UK s leading energy supplier, supporting around 500,000 businesses with everything from gas and electricity to boiler maintenance, efficiency and renewable energy. GB Gas Holdings Ltd reported a profit before tax of 46,753,000 for the year ending December 2012 and a net worth of 2,239,577,000. EPC The property has been assessed with a B rating. Further information is available upon request. VAT We understand that the property is elected for VAT and therefore VAT will be payable on the purchase price. TENURE Freehold. TENANCIES The property is held under one lease for a term of 10 years from 1 November 2009 expiring on 31 October 2019 (c years to lease expiry). The lease is currently held under a fully repairing and insuring lease to GB Gas Holdings Limited at a passing rent of 105,000 per annum. GB Gas Holdings Limited uses the facility to provide training to their workforce in the provision of installation, service and maintenance of commercial electrical systems and gas boilers. The facility specialises in the installation of electrical wiring and fittings. When opened in 2010, the centre was the first of its kind in the UK and offers training and qualifications for energy efficiency assessors and installers of new green technologies, as well as providing opportunities for British Gas engineers to increase their skill set.

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7 PROPOSAL We are instructed to seek offers in excess of 950,000 (Nine Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would equate to a net initial yield of 10.45% subject to usual purchaser s costs of 5.80% and reflects an attractive capital value of per sq m ( per sq ft). FURTHER INFORMATION For further information or to arrange a viewing, please contact either: Andrew Gibson T: E: andrew.gibson@dtz.com Nick Allan T: E: nick.allan@dtz.com Important Notice DTZ (and their Joint Agents where applicable) for themselves and for the vendors or lessor of this property for whom they act, give notice that: i) These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. ii) Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. iii) Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. iv) The photographs appearing in this brochure show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. v) Any areas, measurements or distances referred to herein are approximate only. vi) Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. vii) Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of statement of fact. Design by Martin Hopkins Design. Tel: February