Meighs & Westleys Limited Campbell Road Stoke on Trent Staffordshire ST4 4ER

Meighs & Westleys Limited
Campbell Road
Stoke on Trent
Staffordshire
ST4 4ER

Freehold Industrial Investment

Entirely let to Meighs & Westleys Limited with guarantee until 2024 (subject to option)
Fixed rental increase to £160,000 pa in September 2020
Strategic and established industrial location close to M6 Motorway
Substantial warehouse comprising approximately 60,527 sq ft on a 2.8 acre site
Nearby occupiers include Booker, Sainsbury’s, Dunelm, M&S and Michelin

Lot
68
Auction
11th July 2018
Rent
£146,667 per Annum Exclusive
Status
Sold Prior
Price
Sector
Industrial/Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update

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Freehold Industrial Investment

Entirely let to Meighs & Westleys Limited with guarantee until 2024 (subject to option)
Fixed rental increase to £160,000 pa in September 2020
Strategic and established industrial location close to M6 Motorway
Substantial warehouse comprising approximately 60,527 sq ft on a 2.8 acre site
Nearby occupiers include Booker, Sainsbury’s, Dunelm, M&S and Michelin

Lot 68
Auction 11th July 2018
Rent £146,667 per Annum Exclusive
Status Sold Prior
Price
Sector
Industrial/Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1 miles south of Stoke-on-Trent city centre,, 37 miles south of Manchester, 42 miles north-west of Birmingham
Roads: A52, A500 Queensway, M6 (Junction 15)
Rail: Stoke-on-Trent Rail
Air: Manchester Airport

Situation

Stoke-on-Trent is located on the M6 corridor in Staffordshire. Campbell Road is an established and strategic logistics location 1 mile south of Stoke-on- Trent city centre, just off the A500 Queensway, which provides immediate access to the M6 via Junction 15. The property occupies a prominent roadside position adjacent to Booker Wholesale. London Metric Plc has recently developed two prime industrial units diagonally opposite the property, with 136,000 sq ft let to Michelin and used as their European Distribution Centre. Other nearby occupiers include M&S, Sainsbury’s and Dunelm.

Tenure

Freehold.

Location

Miles: 1 miles south of Stoke-on-Trent city centre,, 37 miles south of Manchester, 42 miles north-west of Birmingham
Roads: A52, A500 Queensway, M6 (Junction 15)
Rail: Stoke-on-Trent Rail
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property is a substantial detached warehouse comprising 6 adjoining bays with ancillary two storey office accommodation to the front of the site. The property benefits from a minimum eaves height of 4.25m rising to 8.25m. The total site area is approximately 2.8 acres (1.133 hectares).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Ground First First	Warehouse & Ancillary Office Office Workshops within rear yard	4,761.10 sq m 303.24 sq m 248.33 sq m 310.48 sq m	(51,248 sq ft) (3,264 sq ft) (2,673 sq ft) (3,342 sq ft)	MEIGHS & WESTLEYS LIMITED (1) guaranteed by Metaltek (UK) Limited and Metaltek International Inc (2) on assignment from Langley Alloys Limited (3)	7 years from 01/09/2017 until 11/10/2024 on a full repairing and insuring lease (4)	£146,667	Fixed rental increase to £160,000 pa on 01/09/2020
Total		5,623.15 sq m	(60,527 sq ft)			£146,667

(1) Meighs & Westleys has over 200 years’ experience manufacturing sand castings in heat, wear and corrosion resistant alloys and is a leading supplier to the UK Ministry of Defence and naval defence contractors including Babcock, Rolls Royce and BAE Systems. Meighs & Westleys is a division of the Westley Group, one of Europe’s largest ferrous and non-ferrous foundry and engineering groups, employing over 250 people (Source: www.westleygroup.co.uk 08/06/2018).
(2) With 1,000s of customers in more than 35 countries, MetalTek International is one of the world’s leading suppliers of alloy components for high temperature, wear, and corrosion environments and high-compliance industries (Source: www.metaltek.com 08/06/2018).
(3) Langley Alloys Limited remains liable for the lease by way of an Authorised Guarantee Agreement. For the year ending 31 August 2017, Langley Alloys Limited reported a turnover of £9,279,135, pre-tax profits of £649,026 and a total net worth of £6,292,477 (Source: Experian Group 11/06/2018).
(4) The lease expires on 11/10/2024 by virtue of the reversionary lease. The lease provides an option to determine on 01/09/2020. The lease is subject to a schedule of condition.