prime investment/ development opportunity

PRIME INVESTMENT/DEVELOPMENTOPPORTUNITY

GEFCO UK LTD, EUROHUB,GEDDINGTON ROAD, CORBY,NN18 8AA

Investment Summary

› Rare opportunity to acquire a substantial freehold site of 35 acres (14.16 hectares), currently used as a car storage facility with a 52,325 sq ft (4,860.9 sq m) modern industrial unit

› Located in an established industrial location on Eurohub

› Excellent transport communications being situated 0.4 miles (0.6 km) east of the A43 and 8 miles (13 km) north of the A14 which provides direct access to the M1, A1, M6, and M11 motorways.

› Let to Gefco UK Ltd with a parent company guarantee from Gefco SA on Full Repairing and Insuring (FRI) lease expiring 29th July 2021.

› The passing rent is £1,320,021.24 per annum exclsuive.

› Excellent ongoing asset management potential including future redevelopment.

We are instructed to seek offers in excess of £16,250,000 (Sixteen Million Two Hundred and Fifty Thousand Pounds), reflecting a Net Initial Yield of 7.61% assuming purchaser’s costs of 6.73%.

GEFCO UK LTD, EUROHUB,GEDDINGTON ROAD, CORBY, NN18 8AAPRIME INVESTMENT OPPORTUNITY

LocationThe location continually attracts major distribution operators given its access to 80% of the Uk’s population within a 4.5 hour HGV drive time.

Situated 10 miles (16 km) north of Kettering and within easy access of major conurbations such as Leicester 25 miles (40 km) to the west, Northampton 24 miles (39 km) to the south and Peterborough 25 miles (40 km) to the east, Corby benefits from accessibility to an estimated catchment population within a 30 minute drive of 700,000 rising to approximately 7,000,000 within 60 minute drive. Given the proximity to labour, wages in the area are 18.3% lower than the UK average.

Corby is surrounded by several major ‘A’ roads providing excellent access to the national motorway network and major cities. London is approximately 90 miles (145 km) to the south and Birmingham 63 miles (101 km) to the west.

Road connectivity is excellent with the A43 connecting to the A14 which in turn provides direct access to the A1 (M) to the east and the M1 (Junction 19) and M6 Motorway interchange to the west.

Corby is an established strategic distribution location in the heart of the

East Midlands.


A51

A448

A40

A429

A417

A446

A449

A449

A518

A40

A41

A120

A10

A505

A428

A414

A141

A10

A11

A5

A50

8

A428

A605

A5

A17

A47

A1101

A151

A15

A16

A43

A606

A

A47

A6

A44

4A44

A5

A6003

A142

A6

A44

A429

A413

A435

A509

A6

A421

A454

A427

A508

A43

A141

A47

511 A607

A34

A41

A602

A414

A10

A14

A14 A1

A1

A14

A14

A616

A45

A45

A46

A46

A46

A45

A505

A38

A38

A6 A42 A46

A46

A1 A47

A418

A1139

A43

A421

A442

1

A11 2 2

A45

M25

M40

A1(M)

M11 M1

M1 M6

M45

M69 M6

M42

M5

M5

M54

M6

M42

M1

M1

A1(M)

M6 Toll

14

13

12

1112

1122

23

2

1

1

20

21

3

21

5

6

43

10

89

10

6

79

6

5

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42 3 3a

4

15

12

18

16

1511

12

8

10

13

12

14

10

11

8

9

1

7

119

625

221

8

6

5

20

4

7

9

11

10

7

8

24 26

9

10

15a

21a23 1 27 6

10a

17

16

611a

T6

T4

T3

T1

8a

2

7

4a 85

10a

1

16

1413

19

17

1314

9

10

87

7

19

21

3

5

2

23a

21a

15

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11a T8 T7

T5

T2

8a

L

Harlow

Hertford

Hatfield

Bishop’sStortford

AmershamCirencester

Stroud

Stow-on-the-Wold

Stratford-upon-Avon

Bromsgrove

Cannock

Lichfield

Hinckley

MarketHarborough

MeltonMowbray

Kettering

Wellingborough

Oakham

Stamford

Huntingdon

Ely

Newmarket

March

Wisbech

Spalding

Burtonupon Trent

Rugeley

CORBY

Brownhills

Warwick

Loughborough

Leicester

Wolverhampton

BIRMINGHAM

Walsall

DudleyStourbridge

RedditchWorcester

Coventry

Nuneaton

RoyalLeamingtonSpa

NorthamptonBedford

Peterborough

Cambridge

Chelmsford

StevenageLuton

St AlbansHemelHempstead

HighWycombe

Dunstable

Aylesbury

Milton Keynes

Oxford

Banbury

Cheltenham

Tamworth

Stafford

SituationThe Subject property has direct access to Geddington Road (A6116) with the A43 Trunk Road approximately 0.5km to the south and Corby town centre 1km to the west.

The Property is in an established commercial area just to the south of the main industrial areas of Weldon and Earlstrees Industrial Estates.

OAKLEY RD

STAM

FORD

RD

JUBILEE AVE

OAKLEY R

D

A427

A427

A6 LEICESTER

A6003

A6116

A6086

A6116

A6003

A43

A43

COVENTRY

A1 PETERBOROUGH

A14

7

A427COTTINGHAM RD

WESTCOTT WAYOAKLEY RD

UPP

ING

HAM

RD

UPPIN

GHAM R

D

GAINSBOROUGH RD

DANESHOLM RD

COTTINGHAM RD

WILLOW BROOKS

ROCKINGHAM RD

PHO

ENIX PARK W

AY

GEDDINGTON RDSOW

ER LEYS RD

GEFCO UK LTD

Weldon Industrial Estate

Earlstrees Industrial Estate


GEDDINGTON RD

A427

OAKLEY RD

A6086


DescriptionThe cars are parked on either tarmac or hardcore shale surfaces with a pre-delivery inspection unit (PDI) towards the front of the facility.

The entire site benefits from a high level of security with a fence and lighting around the perimeter together with a gatehouse and barrier access on Geddington Road.

The PDI facility is a late 1990’s industrial unit internally sub divided to provide a preparation workshop, body shop, mechanical workshop, washdown area and administrative offices.

The unit is a steel portal frame construction with profile steel cladding beneath a coated profile metal sheet roof with 10% roof lights. The property has an eaves height of approximately 4m.

The preparation workshop has two roller shutter doors to the front elevation, five roller shutter doors to the side elevation, sodium lighting and exhaust extraction equipment.

The office and amenity block comprise administrative offices, canteen and separate WC facilities for works and office staff. The office specification includes suspended ceilings, recessed lighting and gas central heating.

Accommodation The property has been measured in accordance with the RICS code of measuring practice and provides the following Gross Internal Floor Area:

The site area is approximately 35 acres.

El Sub Sta

ST

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OA

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Industrial Estate

Facto

ry

Dis

mantle

d R

ailw

ay

Pond

Pond

ETL

ETL

Industrial Estate

Depot

Electricity Sub Station

Def

Ward B

dy

Pond

ETL

Depot

SCOTT ROAD

ST JAMES ROAD

WELDON ROAD

21

7

33

93.0m

Chy

BESS

EMER G

RO

VE

ST

JA

ME

S R

OA

D

ST JAMES ROAD

Depot

ETL

Industrial

Estate

6

41

18

3330

27

32

19

37

29

15

1

13

17

13

Club

RH

Und

Drain

Drain

Wier

95.1m

92.0m

Tanks

GEDDINGTON ROAD

55

0m 50m 100m 150m

Ordnance Survey © Crown Copyright 2016. All rights reserved. Licence number 100022432. Plotted Scale - 1:2664


The site is used for the storage and preparation/pre delivery inspection of

Peugeot and Citroen cars.

Description sq m sq ft

Warehouse/Office 4,860.9 52,325


TenureFreehold

TenancyThe property is let in its entirely to Gefco Uk Ltd with a parent company guarantee from Gefco SA for a term of 20 years from 30th July 2001, expiring 29th July 2021 (approximately 5.25 years unexpired) on a full repairing and insuring lease. There are no further reviews.

The current passing rent is £1,320,021.24 pax.

The lease is excluded from the security and tenure provisions of the Landlord and Tenant Act 1954.

CovenantThe company was founded in 1949 and is based in Courbevoie, France with operations worldwide. GEFCO S.A. provides integrated logistics solutions and is one of the top 10 in its field in Europe. The company specialises in outbound automotive logistics and inbound overland logistics, customs and tax representations, storage, pre-delivery inspection, post-production operation, vehicle customization, merchandise transportation, vehicle distribution, sourcing, vehicle preparation and renovation, containers management, sales and marketing. It serves industrial, automotive, two-wheeler, aeronautic, electronic, consumer goods, and business-to-business markets in France and internationally.

As of December 20, 2012, GEFCO S.A. sold 75% of its business to Russian Railways RJD for €800m. The remaining 25% is owned by PSA Peugeot Citroen.

2013 €000

2012 €000

Turnover €3,993,000 €3,602,000

Current Operating Income €95,500 €109,000

Net Profit €55,000 €43,000

Total Assets €1,396,500 €1,332,500

Gefco SA (parent company guarantee) recent accounts are as follows:

2014 £000

2013 £000

2012 £000

Turnover £146,873 £118,610 £116,796

Pre-tax Profit £6,751 £1,957 -£461

Net Assets £12,691 £8,956 £7,680

Gefco UK Ltd (registration number 01544410) summary of accounts over the last three years can be seen below:


VATWe understand that the property is elected for the purposes of VAT. It is proposed that the transaction will be structured by way of a transfer of a goingconcern.

EPCAn EPC is available upon request.

PROPOSALWe are instructed to seek offers in excess of £16,250,000 (Sixteen Million Two Hundred and Fifty Thousand Pounds), reflecting a Net Initial Yield of 7.61% assuming purchaser’s costs of 6.73%.

COMPANY PURCHASE The property is held in an off shore spv which isavailable to purchase.

Additional information is available on request.

Misrepresentation Act: These particulars are issued, without responsibility on the part of the vendor, BCMRE, or any of their respective employees or agents and serve only as an introductory guide to the premises. No part of them constitutes a term of a contract or a statement or representation upon which any reliance can be placed. Any person with an actual or prospective interest in the premises must satisfy themselves as to any matter concerning the premises by inspection, independent advice or otherwise. Neither BCMRE, nor any of their employees or agents have authority to make or give any representation or warranty as to the premises whether in this report or otherwise. Unless otherwise stated all figures quoted are to be considered exclusive of VAT. The plans are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and does not form part of any contract.Design and produced by PLP London T:020 3137 3079 • plplondon.com

Additional InformationShould you require any further information or wish to carry out an inspection please do not hesitate to contact either:

BCMRE St Christophers HouseSt Christophers PlaceLondon, W1U 1NZT: 020 3667 8400

John Reavley020 3667 8404 E: [email protected]

Andrew Barrs020 3667 8408E: [email protected]

Will Wynn-Williams020 3667 8410E: [email protected]

prime investment/ development opportunity

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