Atlantic Leaf

Industrial

booker-portfolio

Booker Portfolio

Multiple Locations, UK

No. of properties: 30

Asset value: £90.89m

Net rental income: £7.36m

Forward income yield: 8.10%

Locations: England x 23; Scotland x 7

Property type: Wholesale and Distribution Warehouse

Total GIA: 1,746,074 sq ft (162,215.74 sq m)

Tenant: Booker Group PLC (LSE-listed) 

Lease expiry: 2030 with tenant break option in 2025

WAULT:  13.25 Years (8.25 to break)

Next rent review: February 2020

Rent review terms: Five yearly to greater of 13.1% or market rent

About the tenant: Booker Group PLC is the UK’s leading food wholesaler, offering branded and private-label goods to independent convenience stores, grocers, pubs, restaurants and hotels and is listed on the London Stock Exchange with a market cap of £13.1bn (as at 4 June 2015). Visit www.bookergroup.com for more information.

robert-mcbride

Robert McBride

St. Helens, North West, England

No. of properties: 1

Asset value: £7.1m

Net rental income: £526,795 pa

Forward income yield: 7.34%

Location: St Helens, North West

Property type: Distribution Warehouse

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

Tenant: Robert McBride Ltd as part of McBride Plc (LSE Listed)

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

WAULT: 12.3 Years

Next rent review: March 2019

Rent review terms: Five yearly to market rent

About the tenant:  McBride Plc is the leader in European private label household and personal care products with 14 factories across Europe including four within the UK developing, producing and supplying products to major retailers throughout Europe and beyond. Despite challenging conditions in the Group’s main developed markets, full year constant currency revenues were marginally ahead (+0.3%) of the prior year with Private Label sales 0.5% higher. Reported revenues declined by 5.4% primarily as a result of the weaker Euro. The Group’s balance sheet remains robust with net assets of £57.5 million (2014: £68.6m) and gearing at 61% (2014: 49%).

Epwin Portfolio

Epwin Portfolio

Multiple Locations, UK

No. of properties: 5

Asset value: £17.825m

Net rental income: £1,327,000

Forward income yield: 7.44%

Locations: England x 4; Wales x 1

Property type: Manufacturing & Distribution

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

Tenant: Inspirepac Ltd, wholly-owned subsidiary of Smurfit Kappa Group Plc (LSE-listed)

Lease term expiry: October 2031

WAULT:  14.89 Years

Rent review: Five yearly to market rent

Next rent review: October 2016

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, moldings 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. The Epwin group has over 2,400 employees and generates turnover of over £265m.  It is listed on the LSE with a market cap of £180m as at 30 June 2015. For more information, please visit www.epwin.co.uk.  Epwin provides a guarantee for SBP’s lease obligations.

aerial-1-inspirepac

Inspirepac Portfolio

Chesterfield & Wetherby, England

No. of properties: 2

Asset value: £13.22m

Net rental income: £860,938

Forward income yield: 6.51%

Location: Chesterfield, East Midlands; Wetherby, Yorkshire & the Humber

Property type: Manufacturing & Distribution

Total GIA: 216,413 sq ft (20,105 sq m)

Tenant: Inspirepac Ltd, wholly-owned subsidiary of Smurfit Kappa Group Plc (LSE-listed)

Lease term expiry: January 2027

WAULT: 10.7 Years

Next rent review: January 2017

Rent review terms: Five yearly to the greater of RPI or market rent

About the tenant:  Inspirepac Ltd is a wholly-owned subsidiary of Smurfit Kappa Group Plc (‘Smurfit’). Smurfit acquired Inspirepac in May 2015. The Inspirepac Group consists of five businesses located across four sites, and has over 260 employees. Inspirepac are market leaders in high quality corrugated packaging solutions for national and international customers and are a leading supplier of flexography printing technology. Clients include Walkers, Aldi, Howdens and Huggies Nappies. Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world with a revenue of €8.1 billion in 2014. The company is listed on the London Stock Exchange and has a current market capitalisation of €6.5 billion.  

Chesterfield

Chesterfield

Wetherby

Wetherby

Cannock

Gestamp Tallent

Cannock, West Midlands, England

No. of properties: 1

Asset value: £11.39m

Net rental income: £796,956

Forward income yield: 7.0%

Location: Cannock, West Midlands

Property type: Manufacturing & Distribution

Total GIA: 165,100 sq ft (15,338 sq m)

Tenant: Gestamp Tallent Ltd, a wholly-owned subsidiary of Gestamp Group (LSE-listed)

Lease term expiry: 3 coterminous leases expiring October 2025

WAULT: 8.88 Years

Next rent review: 1) January 2015; 2) December 2018; 3) July 2019

Rent review terms: Five yearly to market rent

About the tenant:  Gestamp Tallent Ltd is a wholly-owned subsidiary of Gestamp Group. The Group is a leading multinational that operates in over 20 countries with over 32,000 employees. Gestamp Tallent Ltd is a leading developer of chassis and suspension products and systems for the global automotive industry. Clients include Land Rover, BMW, Ford and Honda. Gestamp earned over £21 million of profits before tax in the period ending December 2013 with an estimated net worth of £121.1 million.

Halfords

Halfords

Redditch, West Midlands, England

No. of properties: 1

Asset value: £30.14m

Net rental income: £1,889,441pa

Forward income yield: 6.27%

Location: Redditch, East Midlands

Property type: Distribution warehouse with ancillary offices

Total GIA: 361,407 sq ft (33,575.8 sq m)

Tenant: Halfords Ltd

Lease term expiry: March 2029

WAULT: 12.33 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. Its principal business is supplying auto, leisure and cycling products operating in the UK and Ireland. Employs over 12,000 staff and has 465 stores and 303 autocentres across the UK. Retailer’s annual sales for 2014/2015 reportedly broke £1bn for the first time. Experian Risk Disk considers Halfords Limited to be of ‘Very Low Risk’ with a credit score of 100/100.

 

 

booker-asset

Booker

Nuneaton, West Midlands, England

No. of properties: 1

Asset value: £10.78m

Net rental income: £676,128pa

Forward income yield: 6.27%

Location: Nuneaton, East Midlands

Property type: Wholesale and distribution warehouse

Total GIA: 90,669 sq ft (8,423.43 sq m)

Tenant: Booker Ltd

Lease term expiry: June 2027

WAULT: 10.5 Years

Next rent review: July 2017

Rent review terms: 3% annually fixed

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

Palmer & Harvey

St. Helens, North West, England

No. of properties: 1

Asset value: £11.34m

Net rental income: £688,085pa

Forward income yield: 6.07%

Location: St Helens, North West

Property type: Distribution warehouse

Total GIA: 145,966 sq ft (13,560.7 sq m)

Tenant: Palmer & Harvey McLane Ltd

Lease term expiry: April 2032

WAULT: 15.3 Years

Next rent review: April 2017

Rent review terms: Five yearly to market rent 

About the tenant: UK’s largest delivered wholesaler of groceries, confectionery and tobacco and 5th largest private company by turnover. Employs over 2,800 staff and serves over 65,000 customers with 11,000 product lines serving small independent retailers to large multiple national companies. Represent a Very Low Risk (According to Experian) of business failure and a DELPHI score of 91. Additional security provided in the form of a surety from Palmer & Harvey McLane (Holdings) Ltd.

dhl-runcorn

DHL

Runcorn, Northwest England

No. of properties: 1

Asset value: £29.25m

Net rental income: £1,827,000pa

Forward income yield: 6.2%

Location: Northwest England

Property type: Distribution

Total NIA: 651,409 sq ft (60,518 sq m)

Tenant: DHL Supply Chain Ltd

Lease term expiry: December 2024

WAULT: 8.2 Years

Next rent review: December 2019

Rental escalations: Fixed increase in 2019 or to OMR (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. DHL is present in over 220 countries across the global, making it the most ‘international company in the world’. With a workforce exceeding 325,000 employees they provide solutions for an almost infinite number of logistics needs.

Brecon

Homebase

Brecon, Wales

No. of properties: 1

Asset value: £5.9m

Net rental income: £420,800 pa

Forward income yield: 7.13%

Location: Brecon, Wales

Property type: Retail Warehouse

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

Tenant: Homebase Ltd, a wholly-owned subsidiary of Wesfarmers Ltd (ASX listed)

Lease term expiry: October 2027

WAULT: 10.8 Years

Next rent review: October 2017

Rent review terms: Five yearly to market rent

About the tenant:  Homebase is a leading home enhancement retailer selling over 50,000 products for the home and garden. It has more than 260 large, out-of-town stores throughout the UK and Republic of Ireland, serving around 64 million customers a year and a growing internet offering. Homebase Ltd is a wholly-owned subsidiary of Wesfarmers Ltd. With AU$62.7 billion in the 2015 financial year, it is now the largest Australian company by revenue, ahead of retail rival Woolworths Limited and mining giant BHP Billiton. Wesfarmers is the largest private employer in Australia, with approximately 205,000 employees.  

Office

4246-053-¬McAteer

EE Ltd

Greenock, Inverclyde, Scotland

No. of properties: 1

Asset value: £10.22m

Net rental income: £725,000pa

Forward income yield: 7.09%

Location: Greenock, Scotland

Property type: Office

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

Tenant: EE Ltd

Lease term expiry: June 2029

WAULT: 12.55 Years

Next rent review: June 2019

Rent review terms: Five yearly RPI linked

About the tenant:  EE Ltd is the largest mobile communications provider in the UK with 2.71 million customers and an estimated 33% market share. EE Ltd was the first UK mobile network operator to launch 4G network with the network providing the widest and fastest 4G coverage in the UK. Investment of £1.5 million in 2G and 4G equipment means that EE covered 160 towns and cities accounting for 70% population with 4G.

CW Inv Proj Connexion Coventry - 7624

E.ON

Coventry, West Midlands, England

No. of properties: 1

Asset value: £15.84m

Net rental income: £1,039,869 pa

Forward income yield: 6.57%

Location: Coventry, East Midlands

Property type: Office

Total NIA: 46,515 sq ft (4,321.3 sq m)

Tenant: E.ON UK Plc

Lease term expiry: April 2023

WAULT: 6.3 Years

Next rent review: April 2017

Rental review terms: 3% annually fixed

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 serving 26 million customers and employs 17,000 people in the UK (93,000 worldwide). Previously listed on the LSE but since July 2002 it has been owned by Eon SE of Germany. One of the 30 members of the DAX index of major German companies and a member of the Global Titans 50 index. Eon UK Plc has a Dun and Bradstreet rating of 5A1.

CW Inv Cobalt 9 - 9600

Santander Cards

Newcastle, North East, England

No. of properties: 1

Asset value: £28.78m

Net rental income: £2,112,257pa

Forward income yield: 7.34%

Location: Newcastle, North East

Property type: Office

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

Tenant: Santander Cards UK Ltd

Lease term expiry: March 2028

WAULT: 11.26 Years

Next rent review: March 2018

Rental escalations: Five yearly to market rent

About the tenant: GE Capital Bank (the former tenant) was acquired by Santander Cards UK Limited and the name incorporated in 2009. Subsidiary of Banco Santander which employs 186,000 people globally (2013) and is the largest bank in the Eurozone by market capitalisation. Provides rewards cards, store cards, credit cards and unsecured sales finance products to the Santander Group and counts Arcadia and Debenhams among its customers. It is the UK’s biggest operator of store cards, including Harrods, Mothercare and Halfords.

Peterborough

Westpoint

Peterborough, East Midlands, England

No. of properties: 1

Asset value: £24.1m

Net rental income: £1,947,443pa

Forward income yield: 7.57%

Location: East Midlands

Property type: Office

Total NIA: 117,621 sq ft (10,927 sq m)

Tenants: Thomas Cook & Bauer Media

Lease term expiry: May 2031 & March 2023

WAULT: 11.6 Years

Rental escalations: To OMR in 2021 & Fixed increase in March 2018

About the tenants:

Thomas Cook Group Plc is a British global travel company listed on the London Stock Exchange on the FTSE 250 Index. The group is supported by c.22,000 employees and operates from 15 countries. It is number one or two in all its core markets. The group owns a number of tour operators, as well as charter airlines based in the United Kingdom, Belgium and Scandinavia. Thomas Cook also owns the scheduled airline Condor and booking website Hotels4u. Thomas Cook Group plc’s three major shareholders as of June 2016 were Invesco (19%). Standard Life Investments Ltd (10%) and Guang Chang Guo (7.03%). The remainder of the stock floats freely.

Bauer Media is a division of Bauer Media Group, Europe’s largest privately owned publishing Group. The Group is a worldwide media empire offering 300 magazines in 15 countries, as well as online, TV and radio stations. 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.