Towsure Products Ltd Long Lane Halesowen - B62 9EF High Yielding Retail Warehouse Investment - Amazon AWS
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Towsure Products Ltd Long Lane Halesowen B62 9EF High Yielding Retail Warehouse Investment
Executive Summary
+ The store is prominently located in a densely
populated suburban location
+ A store of 21,128 sq ft with 53cars on a site of 1.14
acres
+ Let to Towsure Products Limited on an FRI lease for a
am
term expiring on 13th May 2022, with a rent review as ingh
Birm
at 14th May 2017 which has not been actioned en
sow
Hale
+ A conservative current rent of £150,000 per annum
equating to only £7.10 per sq ft
+ Future alternative uses subject to planning
+ We are seeking offers in excess of £1,550,000
exclusive of VAT, subject to contract reflecting a net Location Description
initial yield of 9.12% after allowance for purchaser’s Halesowen is a town in the Metropolitan Borough of Dudley in the The property is a detached single storey retail warehouse
costs of 6.07% and £73per sq ft capital value West Midlands close to the Junction 3 of the M5 motorway (1.5 constructed in two bays of steel portal frame construction with
miles to the east) directly accessed via the A456 dual carriageway. profile metal cladding above brick and block surmounted by a
metal clad roof and the height to underside of haunches is 4.27
The town lies approximately 6 miles south west of Birmingham metres (14 feet). At the rear is a single roller shutter door.
and 3.5 miles south of Dudley and a population of 58,135 (2011
Census). There is a two storey element to the front elevation containing
staff, toilet facilities and offices.
The property is situated in a prominent position close to the
corner of Long Lane (A4043) and Feldon Lane 1 mile north east of The tenant has installed heating and lighting and a substantial
Halesowen Town Centre. Long Lane links between Mucklow Hill mezzanine within the retail area.
and Blackheath Town Centre. To the south is the main shopping
area of this part of Quinton on the A458 and on Mucklow Hill a The site area is 0.46 hectares (1.14 acres).
Wickes and B&Q with other trade counter users.
Externally there are loading areas and car parking bays totalling
The immediate area is both commercial use but predominantly 53 car parking spaces.
high density residential.
Accommodation
5 a
20
The property has the following gross internal area:- 20
2a
1
1a
2
NEW
LB
262
10
Floor Description Sq.ft Sq.m
LAND
2 61 a
S DR
261
Ground Sales 19,905 1,849.27 2
IVE
188.7m
First Offices & Welfare 1,223 113.61
12
116
117
TOTAL 21,128 1,962.87
Mezzanine Sales & Storage 9,650 896.48 2
253
(Tenant improvement)
189.6m
2 5 2a
Tenure
25 2 Shelter
Freehold. El Sub Sta
1
3
Tenancy
12
12 1
12 a
3a
The property is let to Towsure Products Limited on an FRI lease expiring 13th 247
May 2022 at a current rent of £150,000 per annum (equating to £7.10psf on
the landlords area) payable monthly in advance with five yearly upward only
rent reviews. The 14th May 2017 rent review has not yet been actioned.
Covenant Further Information
Towsure Products Limited (Company No. 01285236) is a private Limited company Should you require any further information or wish to arrange an
involved in the distribution of towing and trailer equipment, camping, caravan and inspection please contact the joint sole agents:
outdoor accessories. The most recently published accounts are as follows:
31st July 2014 31st July 2015 31st July 2016
Shareholders Funds £480,867 £881,375 £1,054,543 Wolverhampton Office
43 Bell Place, Wolverhampton,
Pre-Tax Profit (£1,039) £373 (EBITDA £276,541) West Midlands
Turnover £7,865,024 £6,969,978 WV2 4LY
Martin Bloomer
The DECRA credit rating for the year end 31 July 2016 is 85 Secure having improved Consultant
from 79 Stable the previous year. DD: 01902 713 333
M: 07974 458774
EPC martin.bloomer@bulleys.co.uk
The property has an EPC Rating of C - 70. A copy of the certificate is available on www.bulleys.co.uk
request.
VAT
Birmingham Office
The property has been elected for VAT and therefore VAT will be payable on the purchase Victoria House
price. 114 -116 Colmore Row
We anticipate the transaction will be treated as a Transfer of Going Concern (TOGC). Birmingham
B3 3BD
Proposal
Jonathan Moore David Allen
We are seeking offers in excess of £1,550,000 (One Million, five Hundred and fifty
Director Director
thousand Pounds) subject to contract and exclusive of VAT to show a net initial yield of
DD: 0121 661 4836 DD: 0121 661 4835
9.12% and a capital value of £73 per sq ft. This allows for purchaser’s costs at 6.07%.
M: 07773 777 106 M: 07909 532 806
jonmoore@spmcommercial.com davidallen@spmcommercial.com
www.spmcommercial.com
Misrepresentation Act 1967: Shortland Penn + Moore Limited and Bulleys for themselves and for
the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars
do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained
in these particulars as to the property are to be relied on as statements or representations of fact. 3.
Any intending purchaser or lessee must satisfy himself by inspection or otherwise as to the correctness
of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make
or give and neither Shortland Penn + Moore Limited and Bulleys nor any person in their employment
has any authority to make or give, any representation or warranty whatever in relation to this property.
Property Misdescriptions Act 1991: These details are believed to be correct at the time of
compilation but may be subject to subsequent amendment.You can also read
