Atlantic Leaf

Industrial

Booker Feb 2018

Booker Portfolio

Nationwide

No. of properties: 30

Asset value: £96.5m

Net rental income: £7.4m pa 

Forward income yield: 7.65%

Locations: Nationwide

Property type: Industrial

Total GIA: 1,746,074 sq ft (162,216 sq m)

Tenant: Giant Booker Limited/Booker Limited

Lease expiry: 2030 with tenant break option in 2025

WALT:  12.01 Years

Next rent review: February 2020

Rental escalation: 2.5% per annum compounded five-yearly

About the tenant: Booker Group PLC (“Booker”) is a leading food wholesaler in the UK, offering branded and private-label goods to independent convenience stores, grocers, pubs, restaurants and hotels and is listed on the London Stock Exchange. Booker has recently been purchased by Tesco plc, one of the largest retailers in the UK.

https://www.booker.co.uk

Mcbride

Robert McBride

St. Helens, North West, England

No. of properties: 1

Asset value: £7.8m

Net rental income: £0.5m pa

Forward income yield: 6.75%

Location: St Helens, North West, England 

Property type: Industrial

Total GIA: 109,556 sq ft (10,178 sq m) 

Tenant: Robert McBride Ltd

Lease expiry: March 2029 with a tenant break option in March 2024

WALT: 11.1 Years (6.1 years to break) 

Next rent review: March 2019

Rent review terms: Five yearly to market rent

About the tenant: McBride is a market leader in the manufacture and supply of co‑manufactured and private label products for the household and personal care market throughout the UK and Europe. McBride has a broad customer and product base supplying products to virtually all of Europe’s leading retailers.

http://www.mcbride.co.uk 

Epwin Portfolio

Epwin Portfolio

Nationwide

No. of properties: 5

Asset value: £18.8m

Net rental income: £1.4m pa

Forward income yield: 7.20%

Locations: Nationwide

Property type: Manufacturing and Distribution

Total GIA: 405,140 sq ft (37,639 sq m)

Tenant: Specialist Building Products Ltd

Lease term expiry: October 2031

WALT:  13.64 Years

Rent review: Five yearly to market rent

Next rent review: October 2021

About the tenant: Specialist Building Products Limited is a wholly-owned subsidiary  and the main trading entity of Epwin Group Plc, one of the UK’s leading manufacturers of extrusions, mouldings and fabricated low maintenance building products.  Its principle activities include extrusion of PVC-U and roofline products as well as the manufacture of windows, doors, cladding, conservatories and sealed units. Epwin Group Plc provides a guarantee for the tenant’s lease obligations.

http://www.epwin.co.uk

aerial-1-inspirepac

Inspirepac Portfolio

Chesterfield & Wetherby, England

No. of properties: 2

Asset value: £14.8m

Net rental income: £0.9m pa

Forward income yield: 6.46%

Location: Chesterfield & Wetherby, England

Property type: Manufacturing & Distribution

Total GIA: 216,527 sq ft (20,116 sq m)

Tenant: Inspirepac Ltd

Lease term expiry: January 2027

WALT: 8.93 Years

Next rent review: January 2022

Rent review terms: Every five years to RPI or Market Rental Value

About the tenant:  Inspirepac Ltd is a wholly-owned subsidiary of Smurfit Kappa Group Plc (‘Smurfit’). Smurfit acquired Inspirepac in May 2015. Inspirepac are market leaders in high quality corrugated packaging solutions for national and international customers and are a leading supplier of flexography printing technology. Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world and is listed on the London Stock Exchange.

https://www.smurfitkappa.com

Chesterfield

Chesterfield

Wetherby

Wetherby

Cannock

Gestamp Tallent

Cannock, Staffordshire, England

No. of properties: 1

Asset value: £10.9m

Net rental income: £0.8m pa

Forward income yield: 7.28%

Location: Cannock, Staffordshire, England 

Property type: Industrial

Total GIA: 165,095 sq ft (15,338 sq m)

Tenant: Gestamp Tallent Ltd

Lease term expiry: October 2025

WALT: 7.63 Years

Next rent review: July 2019

Rent review terms: Five yearly to market rent

About the tenant:  Gestamp Tallent Ltd is a wholly-owned subsidiary of the Gestamp Group, an international group dedicated to the design, development and manufacture of metal automotive components. The Group specializes in developing innovatively designed products to achieve increasingly safer and lighter vehicles, thereby reducing energy consumption and environmental impact.

http://www.gestamp.com

Halfords Feb 2018

Halfords

Halfords, West Midlands, England

No. of properties: 1

Asset value: £29.7m

Net rental income: £1.9m pa

Forward income yield: 6.37%

Location: Redditch, West Midlands, England

Property type: Distribution warehouse with ancillary offices

Total GIA: 361,407 sq ft (33,576 sq m)

Tenant: Halfords Limited

Lease term expiry: March 2029

WALT: 11.09 Years

Next rent review: March 2019

Rental escalations: Five yearly to market rent 

About the tenant: Halfords Limited is part of Halfords Group plc, a large British retailer established in the early 1900’s. Halfords manages its business in the UK and Republic of Ireland and is the UK’s leading retailer of motoring and cycling products and a leading independent operator in garage servicing and auto repair. 

http://www.halfordscompany.com

booker-asset

Booker

Nuneaton, West Midlands, England

No. of properties: 1

Asset value: £10.6m

Net rental income: £0.7m pa

Forward income yield: 6.55%

Location: Nuneaton, East Midlands, England

Property type: Wholesale and distribution warehouse

Total GIA: 90,669 sq ft (8,423 sq m)

Tenant: Booker Ltd

Lease term expiry: June 2027

WALT: 9.35 Years

Next rent review: July 2018

Rent review terms: 3% annually

About the tenant: Booker Limited is the UK’s largest cash and carry operator whose principal business is “non-specialised wholesale trade”. Over 18,000 product lines and circa 13,000 employees, currently trading from 172 branches in the UK. In 2014, the company was awarded “Green Wholesaler of the Year”. Booker Limited have a Risk Disk credit score of 100 and have been classified as ‘Very Low Risk’.

St Helens (Vacant)

St. Helens, North West, England

No. of properties: 1

Asset value: £7.5m

Estimated market rental income: £4.75 psf

Site coverage: 37% (8.9 Acres)

Location: St Helens, North West, England

Property type: Cross-docked distribution warehouse

Total GIA: 145,966 sq ft (13,561 sq m)

Current Status: To let

Terms: TBA

About the property: Located strategically within minutes of Junction 23 M6 and A580 East Lancashire Road, at the junction of Piele Road and Millfield Lane, at the heart of Haydock estate. Occupiers in the area include Booker Belmont, Costco, Sainsburys, Briggs Automotive & Wolseley UK.

DHL Feb 2018

DHL

Runcorn, England

No. of properties: 1

Asset value: £29.5m

Net rental income: £1.8m pa

Forward income yield: 6.19%

Location: Runcorn, England

Property type: Distribution warehouse

Total NIA: 635,656 sq ft (59,054 sq m)

Tenant: DHL Supply Chain Ltd

Lease term expiry: December 2024

WALT: 6.81 Years

Next rent review: December 2019

Rental escalations:  £2,048,495 or Market Rent (whichever higher)

About the tenant: DHL Supply Chain is part of the world’s leading postal and logistics Group, Deutsche Post AG, providing international express mail services. Deutsche Post is the world’s largest logistics company operating around the world, particularly in sea and air mail.

https://www.logistics.dhl/gb-en/home/our-divisions/supply-chain.html

DFS 2

DFS Portfolio

Nationwide

No. of properties: 10

Asset value: £98.4m

Atlantic Leaf Interest: 45.02%

Net rental income: c. £7.8m pa

Forward income yield: 7.93%

Location: Nationwide

Property type:  8 x Retail Warehouse
2
x Industrial

Total GLA: 415,951 sq ft (69,653 sq m)

Tenant: DFS Trading Limited

Lease term expiry: March 2030

WALT: 12.1 Years

Rental escalations: 5 yearly to open market rent

Next rent review: March 2020

About the tenant: 

DFS is the leading upholstery retailer in the UK and has almost 50 years of experience in designing, manufacturing, selling, delivering and installing an extensive range of sofas and other upholstered and general furniture products. http://www.dfscorporate.co.uk

Crewe

Crewe

Crewe, North West, England

No. of properties: 1

Asset value: £11.9m

Net rental income: £0.8m p.a

Forward income yield: 7.16%

Location: Crewe, North West, England

Property type: Distribution

Total GIA: 204,128 sq ft (18,964 sq m)

Tenant: Buffaload Logistics Limited

Lease term expiry: June 2027

WALT: 9.34 Years

Rental escalations: 5 yearly to market rent

Next rent review: June 2022

About the tenant:

Buffaload Logistics has more than 17 years experience in the chilled distribution sector and has grown rapidly in recent years, investing heavily to build the largest independently owned double-deck trailer fleet in the UK. Their nationwide operation means they are well positioned to offer a diverse and market leading service to food producers, retailers and businesses throughout the UK. In 2017 the Company acquired Davis Haulage Limited and cemented Buffaload’s leading position as a high-volume temperature controlled operator.

http://www.buffaload.co.uk 

Birds Eye View

Deacon Park

Knowsley, England, UK

No. of properties: 1

Asset value: £15.7m

Net rental income: £1.4m p.a

Forward income yield: 8.5%

Location: Knowsley, England

Property type: Industrial Warehouse and Office Space

Total GIA: 574,078 sq ft (53,334 sq m)

Key Tenants: B&M Retail Limited and Serco Limited

Lease term expiry: August 2022 and Between 2020 and 2023

WALT: 3.6 Years

Rental escalations: N/A

About the key tenants:

B&M is a leading discount retailer operating across the UK and is the primary operating entity of B&M European Value Retail S.A., a holding company listed on the London Stock Exchange and a constituent of the FTSE 250 index. https://www.bmstores.co.uk/

Serco Limited (“Serco”) is a large public services provider and a key operating entity of LSE-listed Serco Group Plc, also included in the FTSE 250 Index. Serco Group Plc provides services to governments around the world, with Serco servicing the UK operations, the Group’s largest market. https://www.serco.com/

Brecon

Homebase

Brecon, Wales

No. of properties: 1

Asset value: £5.8m

Net rental income: £0.4m pa

Forward income yield: 7.24%

Location: Brecon, Wales

Property type: Retail Warehouse

Total GIA: 26,300 sq ft (2,443.3 sq m)

Tenant: HHGL Ltd (trading as Homebase)

Lease term expiry: October 2027

WALT: 9.61 Years

Next rent review: October 2022

Rent review terms: Five yearly to market rent

About the tenant:  HHGL Limited trading as Homebase is a home improvement and garden retailer in the United Kingdom and Ireland. In February 2016, Homebase was acquired by Bunnings, the leading retailer of home improvement and outdoor living products in Australia and New Zealand. Homebase and Bunnings are wholly-owned subsidiaries of Wesfarmers Ltd.

https://www.homebase.co.uk

Office

4246-053-¬McAteer

EE Ltd

Greenock, Renfrewshire, Scotland

No. of properties: 1

Asset value: £10.15m

Net rental income: £0.7m pa

Forward income yield: 7.14%

Location: Greenock, Renfrewshire, Scotland

Property type: Office

Total NIA: 61,740 sq ft (5,735.8 sq m)

Tenant: EE Ltd

Lease term expiry: June 2029

WALT: 11.31 Years

Next rent review: June 2019

Rent review terms: Five yearly RPI linked (1-3% Collar & Cap)

About the tenant:  EE, part of the BT Group, is the largest and most advanced digital communications company in Britian, delivering mobile and fixed communication services. https://ee.co.uk

CW Inv Proj Connexion Coventry - 7624

E.ON

Coventry, West Midlands, England

No. of properties: 1

Asset value: £13.8m

Net rental income: £1.1m pa

Forward income yield: 7.74%

Location: Coventry, West Midlands, England

Property type: Office

Total NIA: 46,515 sq ft (4,321 sq m)

Tenant: E.ON UK Plc

Lease term expiry: April 2023

WALT: 5.13 Years

Next rent review: April 2019

Rental review terms: 3% annually

About the tenant: E.ON is one of the world’s leading power and gas companies generating and distributing electricity and retailing power and gas. It operates in over 30 countries worldwide and is owned by E.On SE of Germany. E.On SE is one of the major public utility companies in Europe and the world’s largest investor-owned energy service provider. It is one of the 30 members of the DAX index of major German companies and a member of the Global Titans 50 Index. https://www.eonenergy.com

CW Inv Cobalt 9 - 9600

Santander Cards

Newcastle, Tyneside, England

No. of properties: 1

Asset value: £26.4m

Net rental income: £2.1m pa

Forward income yield: 8.01%

Location: Newcastle, Tyneside, England

Property type: Office

Total NIA: 102,650 sq ft (9,536 sq m)

Tenant: Santander Cards UK Ltd

Lease term expiry: March 2028

WALT: 10.01 Years

Next rent review: March 2018

Rental escalations: Five yearly to market rent

About the tenant: Santander Cards UK Limited provides loyalty card, reward card and credit card services to customers in the United Kingdom and internationally and is a subsidiary of Santander UK plc. Santander UK plc is one of the UK’s leading personal financial services companies and provider of mortgages and savings in the UK. Santander UK plc is a subsidiary of Banco Santander, one of the largest financial services companies in the world.

https://www.santander.co.uk

Peterborough

Lynchwood House

Peterborough, England

No. of properties: 1

Asset value: £25.2m

Net rental income: £1.8m pa

Forward income yield: 7.73%

Location: Peterborough, England

Property type: Office

Total NIA: 177,621 sq ft (16,501 sq m)

Tenants: Thomas Cook Group UK Ltd & Bauer Consumer Media Limited

Lease term expiry: May 2031 & March 2023

WALT: 10.38 Years

Rental escalations: To open market rent  in 2021 and fixed increase in March 2018

Next rent review: May 2021 & March 2018

About the tenants:

Thomas Cook Group UK Ltd is a wholly-owned subsidiary of Thomas Cook Group Plc, a British global travel company listed on the London Stock Exchange on the FTSE 250 Index. The Group owns several tour operators, as well as charter airlines based in the United Kingdom, Belgium and Scandinavia

https://www.thomascook.com

Bauer Media is a division of Bauer Media Group, a worldwide media company and Europe’s largest privately owned publishing Group. Bauer Media joined the Bauer Media Group in January 2008 following the acquisition of EMAP’s consumer and specialist magazines, radio, TV, online and digital businesses.

http://www.bauermedia.com/