1-8 Moorfield Industrial Estate, Gatehead, Kilmarnock, KA2 0BA

 The
property is located at 1-8 Moorfield Industrial Estate, Kilmarnock and provides
a long let, high yielding investment opportunity.

 

The
key investment highlights are set out below:

 

§ 
Let
to OFFICE Holdings Limited (ICC rating 81:100) and DHL Express (UK) Limited

§ 
Detached
distribution facility extending to 235,507 sqft (21,878.6 sqm) on a site of
14.1 acres (5.71 hectares) or thereby

§ 
OFFICE
Holdings Limited occupy all of the warehouse accommodation on a 15 year lease,
expiring 31 December 2024 (10.75 years unexpired)

§ 
OFFICE
Holdings Limited and DHL Express (UK) Limited occupy 75% of the office
accommodation

§ 
Total
rental income £569,487.70 (net £564,337.70)

§ 
Offers
are sought in excess of £5,250,000 (Five Million, Two Hundred and Fifty
Thousand Pounds Sterling) reflecting an attractive net initial yield of
10.16% and a low capital rate of £22.29 psf

 

For
the year ending 27 January 2013, OFFICE Holdings had pre-tax profits in excess
of £35,000,000 and a net worth of £80,848,000.

 

This
facility is their main UK distribution hub.  The operation includes
delivery and storage of goods destined for all High Street stores throughout
the UK and some American and European stores.  In addition, distribution
to single customers ordering products online in the UK and in the US is also
handled at this facility.  Under the terms of the parcel delivery
contract, OFFICE pay the same for each parcel to be delivered regardless of the
location in the UK.

 

There
is currently in excess of 200 people employed at the building which is
operational 6 days a week.  Additional contract staff are employed in the
run up the Christmas period. 

 

Location