HIGH YIELDING INDUSTRIAL INVESTMENT - HAYES DATA CENTRE SPRINGFIELD INDUSTRIAL ESTATE BEACONSFIELD ROAD HAYES UB4 0SL - Fastly
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HIGH YIELDING
INDUSTRIAL INVESTMENT
HAYES DATA CENTRE SPRINGFIELD INDUSTRIAL ESTATE BEACONSFIELD ROAD HAYES UB4 0SL
INVESTMENT SUMMARY
Sale of the Freehold Interest
Former light industrial unit currently
operating as a data centre. Total GIA 106,488
sq ft (9,893 sq m) over ground and 1st floor
fixed mezzanine (59,409 sq ft (5,519 sq m)
excluding the mezzanine floor).
INVESTMENT SUMMARY Situated on Springfield Industrial Estate,
Hayes which is located approximately
15 miles west of central London
Let to Deutsche Bank AG on Full Repairing
and Insuring terms expiring on 14 September
2021 (approximately 3 years remaining). Not in
occupation
Current rent of £2,646,040 per annum
reflecting approximately £24.85 per sq ft on
the total GIA or £44.54 per sq ft on the GIA
exc mezzanine floor
Asset management opportunities
including potential to obtain Vacant Possession
for an owner occupier use (light industrial or
data centre) or opportunity to surrender and
regear existing leases post completion for
continued data centre use
WE ARE SEEKING OFFERS IN EXCESS OF £11,000,000 EXCLUDING VAT.
ASSUMING STANDARD PURCHASER COSTS. THIS REFLECTS A NET INITIAL Excellent data centre location and fibre
connectivity with 6 MVA power reserved with
YIELD OF 22.50% AND A CAPITAL VALUE OF £185 PER SQ FT. potential to increase to 18 MVA
2.588 acres (1.047 hectares)
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 02
CITY OF LONDON
WEMBLEY STADIUM
SUBJECT PROPERTY
RETAIL PARK INC:
Carphone Warehouse,
SOUTHALL RAILWAY STATION
Currys Pc World, Samsung,
Halfords and Dreams
A4020 RING ENGINEERING
HEATHROW AIRPORT
5 MILES
SIRAS CASH & CARRY
A4020
RESIDENTIAL DEVELOPMENT
SCHEME
HAYES & YEADING UNITED
FOOTBALL CLUB
LONDON FILM STUDIOS
HAYES GATES FOOTBALL CLUB
GOALS HAYES
GURU NANAK SCHOOLS
RAILWAY & CROSSRAIL J4 M4 4.5 MILES
(2018) STATIONS TO THE SOUTH
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 03
LOCATION
Hayes lies within the London Borough of Hillingdon,
the second largest of London’s 32 boroughs with a
total population of 273,936 people.
THE UNIT IS LOCATED ON SPRINGFIELD INDUSTRIAL ESTATE The borough is home to Heathrow Airport. Hayes is strategically
positioned just minutes from the M4, M25 and M40 interchanges.
WHICH LIES TO THE EAST OF HAYES AND WEST OF SOUTHALL
Hillingdon is a largely affluent area. Of the total working population
JUST OFF THE PARKWAY (A312) AND UXBRIDGE ROAD. 76% of males and 65% of females are economically active, 50%
of which are in top levels of employment in managerial positions,
professional or technical industries or highly skilled trades (UK
Census 2011).
Springfield Industrial Estate is a well-established light industrial
and retail warehouse location with a range of occupiers including
West London Film Studios, Ring Engineering as well as retailers
including Halfords, Siras Cash & Carry, Dreams and Currys PC
World. The Guru Nanak Sikh Schools site is also located close by
on Beaconsfield Road.
LONDON PADDINGTON
Hayes has excellent accessibility by road with Junction 4
of the M4 located 4.5 miles to the south of the property
along the A312 (the Parkway).
SUBJECT PROPERTY
Rail links are provided from Hayes & Harlington train
station 3 miles south west of the property. The station runs
regular and direct First Great Western services to London
Paddington (15 minutes), Heathrow Airport (12 minutes)
and Reading (40 minutes). Trains also run to Acton, Ealing,
Southall, West Drayton, and further afield to Oxford via
Reading, Swindon, Bristol and Southampton all within
2 hours. Crossrail will begin operating from Hayes and
Harlington in 2018 and will substantially reduce travel
times to central London.
London Heathrow International Airport is one of the
SUBJECT PROPERTY world’s busiest airports and is located just over 5 miles
to the south west. Heathrow caters for approximately 72
million passengers a year, travelling on 82 airlines to 180
destinations in 85 countries. The Airport offers unrivalled
international travel options to and from the UK.
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 04
DESCRIPTION
The property comprises an industrial ACCOMMODATION
warehouse unit fitted as a wholesale
data centre extending to approximately
106,488 sq ft GIA.
The GIA includes a fixed mezzanine floor (Landlord
fixture). The GIA excluding the mezzanine floor is
approximately 59,409 sq ft. The Net Technical Area is
currently approximately 38,000 sq ft.
The property was constructed in the late 1980s
and later extended in the 1990s. The secure site is
of approximately 2.588 acres and has parking for
approximately 40 cars, although much of the yard area
currently comprises Data Centre infrastructure (Tenant
fit out). The property has two access points; one from
Beaconsfield Road and one from Bullsbrook Road.
On the ground floor, the property is part fitted out as
a data centre with four data halls. Two are active and
are occupied by subtenants. Two are unused. The first
floor mezzanine comprises one data hall (unused) and
an open plan warehouse area together with ancillary
offices (part occupied).
UNUSED DATA HALL - GROUND FLOOR
Floor plans of the current fit out can be provided SITE
upon request.
The site is broadly square in shape and level and extends to
approximately 2.588 acres (1.047 hectares). The site has two
access points, one from Beaconsfield Road to the south west and
one from Bullsbrook Road to the north.
TENURE
This property is held Freehold.
FRONT ELEVATION & PARKING OFFICE BREAK OUT AREA - FIRST FLOOR
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 05
TENANCIES
The interest being sold is the freehold subject to the lease of the
whole of the Property to Deutsche Bank AG dated dated 29 June
2001. The FRI lease is for a term of 20 years from 15 September
2001 expiring on 14 September 2021. The current rent is £2,646,040
per annum. There are no further rent reviews. Deutsche Bank AG are
no longer in occupation.
ADDITIONAL INFORMATION
The vendor is aware of an underlease of the whole and sub-underleases of part derived out
of the lease granted to Deutsche Bank AG including an underlease of the whole dated 26
February 2010 made between (1) Deutsche Bank AG London (2) Sentrum (Hayes) Limited and
(3) Sentrum Holdings Limited.
The vendor is aware of sub-underlettings and other documents including:-
(i) Hall C Digiplex Megaplex Centre (ground floor and office space first floor) granted to
Sentrum (Colo) Limited (company number 07624178). Companies House records indicate
this company was dissolved on 22 July 2016.
FREEHOLDER ENTITY TO BE
(ii) Hall D (part) dated 2 April 2012 of Phase One made between (1) Sentrum (Hayes) Limited
HAYES FREEHOLD LIMITED DISPOSED OF (2) Level 3 Communications Limited and (3) Level 3 Communications Inc.
Further details will be provided on request.
HEADLEASE ACTIVE - NOT IN
DEUTSCHE BANK AG OCCUPATION
DISCLAIMER
UNDERLEASE
SENTRUM (HAYES) LIMITED IN LIQUIDATION
The vendor does not have a direct relationship with the underlessee or any sub-underlessees
and the prospective buyer must satisfy itself with regard to these matters.
A buyer must rely on the buyer’s own opinion and/or professional advice concerning the
SUB-UNDERLEASE SUB-UNDERLEASE
description quality statement, condition of the property or any rights, title or interest sold
SENTRUM (COLO) LIMITED LEVEL 3 Comms. LTD
and the possibility that some or all of them may have defects not apparent on inspection
and examination.
DISSOLVED
Neither the vendor nor their agents nor any person acting on their behalf will incur any
personal liability whether directly or indirectly under any contract or under any deed or
instrumental document entered into under or in connection with it.
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 06
TENANT COVENANT
Deutsche Bank was founded in Berlin in 1870 and
employs 100,000 employees in over 70 countries.
They have a large presence in Europe, the Americas, Asia-Pacific
and the emerging markets. The bank offers financial products and
services for corporate and institutional clients along with private
and business clients. Deutsche Bank’s core business is investment
banking. In 2017 the bank reported a pre-tax profit of 1.3 Billion
Euros, a significant increase on 2016. Their Moody’s rating is
currently A3.
In addition:
Level 3 Communications are an American Multinational
Telecommunications company who operate across the United
States, South America, Western Europe, and Asia. They are the
deliverer of Netflix and Apple Music video content over the internet.
In 2015 they recorded a turnover of $8.2 billion (increase of 18% on
2014) and profit of $3.4 billion (increase of 91% on 2014).
OFFICE ACCOMMODATION
IN 2017 THE BANK REPORTED A PRE-TAX PROFIT OF 1.3 BILLION
EUROS, A SIGNIFICANT INCREASE ON 2016. THEIR MOODY’S RATING
IS CURRENTLY A3.
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 07
ASSET MANAGEMENT OPPORTUNITIES
The property offers numerous asset
management possibilities in the short and
medium term including:
Potential to refurbish the unit to create
a light industrial unit to take advantage
of the strong occupational demand
within the wider Heathrow / Hayes
markets.
INVESTMENT SUMMARY Surrender the existing occupational
lease and enter into a new relationship
with one of the subtenants.
Invest in the current data centre
operation to improve marketability and
customer base.
DATA ROOM
Access available upon request under NDA.
CAPITAL ALLOWANCES
Further information can be provided upon
request.
VAT
The property has been elected for VAT.
The sale will be dealt with as a TOGC.
(Subject to compliance with the relevant
requirements).
OFFICE ACCOMMODATION - FIRST FLOOR MEZZANINE (CURRENTLY UNUSED) - FIRST FLOOR
DATA CENTRE INDUSTRIAL INVESTMENT HAYES DATA CENTRE, SPRINGFIELD INDUSTRIAL ESTATE, BEACONSFIELD ROAD, HAYES, UB4 0SL 08
PROPOSAL
We are seeking offers in excess of £11,000,000
excluding VAT. Assuming standard purchaser costs.
This reflects a Net Initial Yield of 22.50% and a capital
value of £185 per sq ft.
CONTACT INFORMATION
For further information, access to the data room or to
arrange an inspection, please contact:
CHARLES FLETCHER
T 020 7861 1450
M 07838 575 063
E charles.fletcher@knightfrank.com
WILL GUBB
T 020 7861 1595
DISCLAIMER M 07436 153 573
E Will.Gubb@knightfrank.com
The property is being marketed for sale on behalf of Joint Fixed Any information provided is provided without
Charge Receivers. No warranties, representations or guarantees liability for any reliance placed on it and the HECTOR AHERN
are given or will be given in respect of the information in this Receivers are acting without personal liability T 020 7861 1749
brochure or any matter relating to the Property, including VAT and neither the Receivers nor their firm nor M 07976 577 214
any person acting on their behalf will incur any E hector.ahern@knightfrank.com
The Receivers do not have a direct relationship with the personal liability whether directly or indirectly
underlessee or any sub-underlessees and the prospective buyer in connection with this brochure any contract
must satisfy itself with regard to these matters. or under any deed or instrumental document
entered into under or in connection with it Knight Frank LLP | 55 Baker Street | London W1U 8AN
A buyer must rely on the buyer’s own opinion and/or
professional advice concerning the description quality The Receivers are not bound to accept the
statement, condition of the property or any rights, title or highest or any offer.
interest sold and the possibility that some or all of them may
have defects not apparent on inspection and examination.
MISREPRESENTATION ACT: Knight Frank LLP give notice to anyone who may read these particulars as follows:-
1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property,
its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or
lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or
use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with
and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55
Baker Street, London W1U 8AN, where you may look at a list of members’ names. October 2018.
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