MANDALE PARK TS1 (Part Of A Portfolio), Cannon Par, Middlesbrough, TS1 5RY

THE ASSETS ARE LOCATED ACROSS THE NORTH EAST OF ENGLAND, A REGION THAT IS CURRENTLY UNDERGOING A SIGNIFICANT TRANSFORMATION PROVOKED BY PUBLIC AND PRIVATE INVESTMENT AND REINFORCED BY ITS STRATEGIC LOCATION AS A GATEWAY TO EUROPE AND GLOBAL MARKETS.

PORTFOLIO SUMMARY - RARE PORTFOLIO OF THREE NEW BUILD MULTI LET INDUSTRIAL ESTATES ACROSS NEWCASTLE,
MIDDLESBROUGH AND STOCKTON-ON-TEES. EACH ASSET IS STRATEGICALLY SITUATED WITHIN ESTABLISHED COMMERCIAL HUBS WITH EXCELLENT TRANSPORT LINKS, ROBUST LOCAL ECONOMIES, AND STRONG DEMAND FOR INDUSTRIAL AND TRADE UNITS.

The portfolio comprises a total of 70 units and is 100% occupied, let to 64 tenants in total reflecting diverse income, with no tenant reflecting more than 3.72% of the total income, and the top 10 tenants reflecting only 24.35% of the total income.

Majority of the income is contracted beyond 2031 and subject to upward only rent reviews, to the greater of OMV or the Retail Price Index with no cap or collar, offering a highly attractive running yield and significant index linked rental growth.

Total Floor Area of 126,071 sq ft across the three estates, with an average unit size of 1,801 sq ft.

All units have an EPC ratings of A and B, and are provided with a 10-year latent defects insurance backed
guarantee, offering future proofed assets.

Combined total passing rent of £1,345,300 per annum providing an average passing rent of £10.67psf.

The Portfolio provides 35 lease events within the first 3 years offering short term scope to capture rental growth.

Projected RPI linked rental growth provides a reversion to c. £1,667,333pa by 2031.

A combined WAULT of 8.7 years to expiry, and 3.3 years to breaks, and 3.2 years to reversion.



( Agency Pilot Software ref: 1545 )