The property, which totals 141,319 sq ft, is a modern industrial building with offices comprising two substantial bays of steel frame construction. There are brick elevations to approximately 2.5m with sheeted panelled clad elevations above. The main factory area has an eaves height of 9.3m. The building has a substantial first floor area forming an L shape within the main frame which provides office, storage and workshop and space. The property has a full height glazed atrium entrance servicing the offices with an open staircase and an 8 person 630kg lift.
Site area is 6.5 acres, which equates to a site cover of approximately 50%. There is car parking for approximately 200 cars to the side of the building and a further 50 spaces to the front.
The property is situated near the entrance of Sherwood Park, which is a successful mixed use business park, which lies within half a mile of junction 27 of the M1. The location near the entrance means access to the property does not become congested like some other locations on the park.
Let to SPS Aerostructures Limited expiring December 2015. Established in 1984, SPS Aerostructures Limited is an engineering company serving rolling stock and aerospace manufacturers throughout the world.
Tenure: 999 year lease on a peppercorn rent.
Structure
The property was part of the Sapphire Portfolio (Part). See ‘Sapphire Portfolio (Part)’ section for further details.
Asset Management/Value-Add
Negotiated attractive lease renewal terms which were passed to the purchaser of the portfolio to document.
