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Units 1 & 2, Telford Road & South Bank Road, Middlesbrough TS3 8BL Investment Considerations ■ Excellent location on Telford Road, situated 2 miles east of Middlesbrough town centre ■ Two modern warehouse units, constructed in 2004, totalling approximately 4,500.2 sq m (48,440 sq ft) ■ 7 years unexpired to the strong covenant of Wolseley Centers Limited ■ Low site coverage of 27% ■ Total passing rent of £250,500 per annum ■ Offers are sought in the region of £2,300,000 (Two Million Three Hundred Thousand Pounds) subject to contract and exclusive of VAT reflecting a net initial yield of 10.29% after usual purchasers costs of 5.8% Location Middlesbrough is the commercial capital of Teeside, situated approximately 68 km (42 miles) to the south of Newcastle and 109 km (69 miles) to the north of Leeds. Road communications are good with the A19 providing access to Middlesborough town centre and junction 56 of the A1 (M) which is the main arterial route to both Leeds and Newcastle. Darlington is accessed via the A66 some 26 km (16 miles) to the South West. Middlesborough also benefi ts from good public transport facilities with a number of bus routes providing direct access to Newcastle City centre and regular rail services to London with an approximate journey time of 3 hours and 30 minutes. Durham Lees Valley Airport and Newcastle International Airport are situated 74 km (45 miles) and 18.5 km A66 (11.5 miles) from Middlesbrough town centre respectively. A1 A66 A172 A1085 A69 A66 A69 A68 A68 A69 A68 A68 A66 A68 A69 A68 A68 A66 A1 A68 A1 Newcastle upon Tyne Gateshead A1 Durham A68 A167 A1(M) A167 A167 A167 A1(M) A167 A167 A167 A19 A1(M) A1(M) Darlington South Shields A19 Sunderland A19 A66 A19 A177 A66 Durham Tees Valley International Airport Hartlepool Billingham MIDDLESBROUGH A66 A19 A177 A19 A19 A19 A19 A689 A174 A689 A66 A172 A172 A174 Redcar A171 Brotton A171 A171 A171 A1 Richmond A19 A172
d Works Rd Trade Counter / Warehouse Investment Description The property comprises two modern trade counter warehouse units, constructed in 2004, with a substantial secure yard on a site of 4.12 acres (1.66 hectares). The property has a site coverage of 27%. Both buildings are of steel portal frame construction providing a clear internal height of 7.2 metres (23’ 3”) and an external eaves height of approximately 8 metres (26’ 3”). Accommodation The property provides the following accommodation: UNIT 2 Unit Sq M Sq Ft Unit 1* 3,563.0 38,352 Unit 2 937.2 10,088 UNIT 1 Total 4,500.2 48,440 *The yard area is approximately 1.4 acres (0.56 hectares). Tenancy Both units are let on two separate FRI leases with 5 yearly rent reviews to Wolseley Centres Limited for 15 years from 5th March 2004 and expiring on 4th March 2019. Unit 1 is let at a current rent of £205,500 which equates to £162,800 per annum (£4.24 per sq ft) on the warehouse unit and £42,700 per annum for the yard area. Unit 2 is let at a current rent of £45,000 (£4.46 per sq ft) per annum. A licence to sublet Unit 1 to LV Shipping Limited has recently been granted for the remainder of the term subject to 12 monthly mutual break options. Further information is available on request. Tenure Tees Bridge Newp ort Rd Ackham R A66 Haywood St A66 A1032 A66 Newport Rd North Rd A178 B1272 Hartington Rd Bridge St Littlehope Rd A66 TOWN CENTRE B1272 Middlesbrough Albert Rd Albert Rd Borough Rd Albert Park Dock St Winward Way Marton Rd Marton Rd A66 Borough Rd Marton Rd Shepherdson Way Borough Rd A172 Longlands Rd Dockside Road Industrial Estate Westbo urne Grove B1513 The Leeway Dockside Rd A66 King’s Rd A1085 Ormesby Rd S Bank Rd S Bank Rd A171 Cargo Fleet Ln The Pallister Park Dockside Rd A66 W esterby Rd B1513 Motor Sports Park S Bank Rd Queensway Telford Rd Middlesbrough R d Sotherby Rd Sotherby Rd Longlands Rd Longlands Rd A171 Homerton Rd Cargo Fleet Ln A66 Brunel Rd A1085 Sotherby Rd Trunk Rd Situation Telford Road is situated in an area known as South Bank, approximately 4.8 km (3 miles) to the east of Middlesbrough town centre within a principally industrial area. The property is located on the East Middlesborough Industrial Estate at the junction of Telford Road and South Bank Road. Freehold. Covenant Information Wolseley UK Limited is the UK’s leading distributor of plumbing and building materials and products, serving professionals in the construction industry through a number of trading brands (BCG, Climate Centre, Drain Centre, Pipe Centre, Plumb Centre and William Wilson). The UK’s leading bathroom specialist Bathstore is also part of Wolseley UK. July 2011 July 2010 July 2009 Turnover £1,906,668,000 £1,849,910,000 £1,909,387,000 Pre- Tax Profi t £1,987,000 -£30,509,000 £87,532,000 B1272 A172 Net Worth £945,541,000 £929,381,000 £778,499,000 Ormesby Rd Ackham Rd A1032 The Ave The Ave Marton Burn Rd A171 VAT We understand that the property is elected for VAT. Marton Rd Ormesby Rd Emerson Ave Keith Rd © Crown Copyright, ES 100020449. For identifi cation purposes only. Ormesby Rd Ackham Rd Green Ln A172 High St
Page 1: Trade Counter / Warehouse Investmen

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