Atlantic Leaf

Industrial

Booker Portfolio

Nationwide

No. of properties: 30

Asset value: £94.1m

Net rental income: £7.4m pa 

Forward income yield: 7.84%

Locations: Nationwide

Property type: Industrial

Total GLA: 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:  11.01 Years

Next rent review: February 2020

Rental escalation: 2.5% per annum compounded five-yearly

About the tenant: Booker Group Limited (“Booker”) is a leading food wholesaler in the UK, offering branded and private-label goods to independent convenience stores, grocers, pubs, restaurants and hotels. Booker was purchased by Tesco Plc in March 2018, one of the largest retailers in the UK. 

https://www.booker.co.uk

Koito, Droitwich Spa

No. of properties: 1

Asset value: £11.89m

Net rental income: £0.82m pa

Forward income yield: 6.50%

Location: Droitwich Spa, West Midlands, England

Property type: Industrial

Total GLA: 177,694 sq ft (16,508 sq m)

Tenant: Koito Europe Ltd

Lease expiry: December 2033

WALT: 14.6 years (9.6 years to break)

Next rent review: December 2023

Rent review terms: Five yearly to market rent 

About the tenant: Koito Europe Limited (KEL) is a leading supplier to the automotive industry specialising in the design and manufacture of rear lamp lighting to many vehicle manufacturers including Nissan, Toyota, Mercedes Benz, Peugeot and Suzuki.

www.koito-europe.co.uk

Kerry Logistics, Trafford Park

No. of properties: 1

Asset value: £4.45m

Net rental income: £0.3m pa

Forward income yield: 6.25%

Location: Trafford Park, North west, England

Property type: Industrial

Total GLA: 62,429 sq ft (5,800 sq m)

Tenant: Kerry Logistics (UK) Ltd

Lease expiry: March 2024

WALT: 4.8 Years 

Next rent review: N/A

Rent review terms: N/A 

About the tenant: Kerry Logistics (UK) Limited specialises in integrated logistics, international freight forwarding and supply chain solutions having extensive operations across the globe. Kerry Logistics has a broad customer base and over 40,000 employees in 53 countries and territories worldwide. 

www.kerrylogistics.com              

Cassellie, Leeds

No. of properties: 1

Asset value: £5.80m

Net rental income: £0.46m pa

Forward income yield: 7.43%

Location: Leeds, York & the Humber, England

Property type: Industrial

Total GLA: 91,832 sq ft (8,531 sq m)

Tenant: Cassellie Ltd

Lease expiry: June 2029

WALT: 10.0 Years (5.0 years to break) 

Next rent review: June 2024

Rent review terms: Five yearly to market rent  

About the tenant: Cassellie is a bathroom design brand based in Leeds which provides an exclusive product range of high-quality fixtures and fittings.. 

www.cassellie.co.uk

Assa Abloy, Wolverhampton

No. of properties: 1

Asset value: £6.60m

Net rental income: £0.5m pa

Forward income yield: 7.26%

Location: Wolverhampton, West Midlands, England

Property type: Industrial

Total GLA: 120,341 sq ft (11,180 sq m)

Tenant: Assa Abloy Ltd

Lease expiry: July 2023

WALT: 4.1 Years 

Next rent review: July 2021

Rent review terms: RPI subject to 2% – 4% Collar & Cap

About the tenant: Assa Abloy is the global leader in access solutions, providing products and services related to openings such as locks, doors, gates and entrance automation solutions. The Group has leading positions in most of Europe, North and South America, Asia and Oceania with the largest installed base of products in the world.

www.assaabloy.com/en/com/

Homebase

Brecon, Wales

No. of properties: 1

Asset value: £4.3m

Net rental income: £0.2m pa

Forward income yield: 5.38%

Location: Brecon, Wales

Property type: Retail Warehouse

Total GLA: 25,028 sq ft (2,325 sq m)

Tenant: HHGL Ltd (trading as Homebase)

Lease term expiry: October 2027

WALT: 8.61 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. Homebase was acquired by Hilco, a private equity company, in 2018.

https://www.homebase.co.uk

Robert McBride

St. Helens, North West, England

No. of properties: 1

Asset value: £7.9m

Net rental income: £0.5m pa

Forward income yield: 6.67%

Location: St Helens, North West, England 

Property type: Industrial

Total GLA: 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: 10.1 Years (5.1 years to break) 

Next rent review: March 2024

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 many of Europe’s leading retailers.

http://www.mcbride.co.uk 

Epwin Portfolio

Nationwide

No. of properties: 4

Asset value: £17.5m

Net rental income: £1.3m pa

Forward income yield: 7.33%

Locations: Nationwide

Property type: Manufacturing and Distribution

Total GLA: 381,511 sq ft (35,444 sq m)

Tenant: Specialist Building Products Ltd

Lease term expiry: October 2031

WALT:  12.64 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

Smurfit Kappa

Chesterfield & Wetherby, England

No. of properties: 2

Asset value: £14.2m

Net rental income: £1.0m pa

Forward income yield: 6.75%

Location: Chesterfield & Wetherby, England

Property type: Manufacturing & Distribution

Total GLA: 209,716 sq ft (19,483 sq m)

Tenant: Smurfit Kappa UK Ltd

Lease term expiry: January 2027

WALT: 12.93 Years

Next rent review: January 2022

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

About the tenant: Smurfit Kappa UK Ltd is a wholly-owned subsidiary of Smurfit Kappa Group Plc, a multi-national provider of paper-based packaging solutions. It has a wide customer base including many well-known household brands and is listed on the London Stock Exchange and included in the FTSE 100 index.

https://www.smurfitkappa.com

Chesterfield

Chesterfield

Wetherby

Wetherby

Gestamp Tallent

Cannock, Staffordshire, England

No. of properties: 1

Asset value: £10.9m

Net rental income: £0.8m pa

Forward income yield: 7.33%

Location: Cannock, Staffordshire, England 

Property type: Industrial

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

Tenant: Gestamp Tallent Ltd

Lease term expiry: October 2025

WALT: 6.63 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

Halfords, West Midlands, England

No. of properties: 1

Asset value: £29.5m

Net rental income: £1.9m pa

Forward income yield: 6.40%

Location: Redditch, West Midlands, England

Property type: Distribution warehouse with ancillary offices

Total GLA: 357,541 sq ft (33,217 sq m)

Tenant: Halfords Limited

Lease term expiry: March 2029

WALT: 10.09 Years

Next rent review: March 2024

Rental escalations: Five yearly to market rent 

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

http://www.halfordscompany.com

Haydock

St. Helens, North West, England

No. of properties: 1

Asset value: £7.6m

Net rental income: £0.65m pa

Forward income yield: 6.00%

Location: St Helens, North West, England

Property type: Industrial

Total GLA: 144,997 sq ft (13,468 sq m)

Tenant: Law Distribution

Lease expiry: May 2031

WALT: 11.99 years (1.98 years to break)

Next rent review: May 2024

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

About the property: Law Distribution is a family run warehousing and distribution business specialising in the storage of bonded and non-bonded goods.

www.lawdistribution.co.uk

Booker Nuneaton

Nuneaton, West Midlands, England

No. of properties: 1

Asset value: £10.3m

Net rental income: £0.7m pa

Forward income yield: 6.99%

Location: Nuneaton, East Midlands, England

Property type: Wholesale and distribution warehouse

Total GLA: 88,129 sq ft (8,187 sq m)

Tenant: Booker Ltd

Lease term expiry: June 2027

WALT: 8.34 Years

Next rent review: July 2019

Rent review terms: 3% annually

About the tenant: Booker Group Limited (“Booker”) is a leading food wholesaler in the UK, offering branded and private-label goods to independent convenience stores, grocers, pubs, restaurants and hotels. Booker was purchased by Tesco Plc in March 2018, one of the largest retailers in the UK.

https://www.booker.co.uk

DHL

Runcorn, England

No. of properties: 1

Asset value: £32.0m

Net rental income: £1.8m pa

Forward income yield: 5.71%

Location: Runcorn, England

Property type: Distribution warehouse

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

Tenant: DHL Supply Chain Ltd

Lease term expiry: December 2024

WALT: 5.81 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 largest postal and logistics Group, Deutsche Post AG, providing international express mail services. Deutsche Post operates globally, particularly in sea and air mail, and is a widely recognised brand.

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

Buffaload Logistics

Crewe, North West, England

No. of properties: 1

Asset value: £11.6m

Net rental income: £0.8m p.a

Forward income yield: 7.33%

Location: Crewe, North West, England

Property type: Distribution

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

Tenant: Buffaload Logistics Limited

Lease term expiry: June 2027

WALT: 8.34 Years

Rental escalations: 5 yearly to market rent

Next rent review: June 2022

About the tenant:

Buffaload Logistics is a family-owned company with more than 18 years’ experience in the UK’s chilled distribution sector. It operates from five locations nationwide using a temperature controlled and location tracked road fleet.

http://www.buffaload.co.uk 

Deacon Park

Knowsley, England, UK

No. of properties: 1

Asset value: £15.8m

Net rental income: £1.3m p.a

Forward income yield: 9.15%

Location: Knowsley, England

Property type: Industrial Warehouse and Office Space

Total GLA: 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: 2.9 Years

Rental escalations: N/A

About the key tenants:

B&M is a well-known and growing discount retailer which operates across the UK. It 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 is one of the major outsourced public services providers to the UK Government and a key operating entity of LSE-listed Serco Group Plc, also included in the FTSE 250 index. Serco Group Plc is based in the UK and provides defence, transport, justice and immigration, health, and citizen services to governments around the world.

https://www.serco.com/

Office

EE Ltd

Greenock, Renfrewshire, Scotland

No. of properties: 1

Asset value: £10.8m

Net rental income: £0.7m pa

Forward income yield: 6.70%

Location: Greenock, Renfrewshire, Scotland

Property type: Office

Total GLA: 64,014 sq ft (5,947 sq m)

Tenant: EE Ltd

Lease term expiry: June 2029

WALT: 10.31 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 digital communications company in the UK, delivering mobile and fixed communication services nationwide.

https://ee.co.uk

E.ON

Coventry, West Midlands, England

No. of properties: 1

Asset value: £12.2m

Net rental income: £1.1m pa

Forward income yield: 9.06%

Location: Coventry, West Midlands, England

Property type: Office

Total GLA: 48,545 sq ft (4,510 sq m)

Tenant: E.ON UK Plc

Lease term expiry: April 2023

WALT: 4.13 Years

Next rent review: April 2020

Rental review terms: 3% annually

About the tenant: E.ON is one of the world’s leading utility companies, distributing and retailing electricity and gas. It operates in over 30 countries worldwide and is owned by the German E.ON SE group. 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 included in the German DAX30 index and the Global Titans 50 index.

https://www.eonenergy.com

Santander

Newcastle, Tyneside, England

No. of properties: 1

Asset value: £24.7m

Net rental income: £2.1m pa

Forward income yield: 8.54%

Location: Newcastle, Tyneside, England

Property type: Office

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

Tenant: Santander Cards UK Ltd

Lease term expiry: March 2028

WALT: 9.01 Years

Next rent review: March 2023

Rental escalations: Five yearly to market rent

About the tenant: Santander Cards UK Limited is a subsidiary of Santander UK Group Holdings Plc, the entity which operates in the property. The Santander group is a key European bank and personal financial services provider. In the UK it primarily offers mortgage and savings products and transactional services.

https://www.santander.co.uk

Lynchwood House

Peterborough, England

No. of properties: 1

Asset value: £25.6m

Net rental income: £1.8m pa

Forward income yield: 7.70%

Location: Peterborough, England

Property type: Office

Total GLA: 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: 9.38 Years

Rental escalations: To open market rent

Next rent review: May 2021 (Thomas Cook)

About the tenants:

Thomas Cook Group UK Ltd is a wholly-owned subsidiary of Thomas Cook Group Plc, a global travel company listed on the London Stock Exchange. 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/