Freehold Industrial Investment with Long Term Development Potential (STC)
Recently renewed 10 year lease (no breaks) to JD Norman Lydney Limited (guaranteed by JD Norman Industries Inc)
Forms part of the larger JD Norman Lydney Plant spanning over 90,000 sq ft
Large site area of approximately 3.74 acres (1.51 hectares)
Long term residential/commercial development opportunity (subject to consents)
Well located on the A48
Lot 11
Auction 11th July 2019
Rent £125,000 per Annum Exclusive
Status Sold
Price £1,130,000
Sector Industrial/Warehouse
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of Administrators
Property Information
Location
Miles
23 miles south-west of Gloucester
27 miles north of Bristol
28 miles north-east of Newport
Roads
A48, M48 (Junction 2)
Rail
Lydney Rail Station
Air
Bristol Airport
Situation
Lydney is a town in Gloucestershire, 27 miles north of Bristol. The property is situated adjacent to the A48 just outside of Lydney town centre, providing convenient access to Gloucester, Chepstow and the M4 to the south-west. The Severn Bridge toll has now been removed, improving connectivity to economic centres such as Bristol. The property forms part of the JD Norman Industries Lydney Plant, with JD Norman occupying the adjoining site where their foundry is located. The Lydney plant totals 90,000 sq ft over three buildings (source: http://www.jdnorman.com/lydney-plant). Other nearby industrial occupiers include the head office of Mabey Bridges, Woodford Engineering and Simpson Motorsport. The site to the east of the property has recently been developed by Kier to provide a residential scheme, 'Bishops Mead'. Persimmon Homes is currently developing 347 residential units immediately adjacent to the east of the Kier site. Further information can be found at publicaccess.fdean.gov.uk.
Tenure
Freehold.
Location
Miles
23 miles south-west of Gloucester
27 miles north of Bristol
28 miles north-east of Newport
Roads
A48, M48 (Junction 2)
Rail
Lydney Rail Station
Air
Bristol Airport
Situation
Lydney is a town in Gloucestershire, 27 miles north of Bristol. The property is situated adjacent to the A48 just outside of Lydney town centre, providing convenient access to Gloucester, Chepstow and the M4 to the south-west. The Severn Bridge toll has now been removed, improving connectivity to economic centres such as Bristol. The property forms part of the JD Norman Industries Lydney Plant, with JD Norman occupying the adjoining site where their foundry is located. The Lydney plant totals 90,000 sq ft over three buildings (source: http://www.jdnorman.com/lydney-plant). Other nearby industrial occupiers include the head office of Mabey Bridges, Woodford Engineering and Simpson Motorsport. The site to the east of the property has recently been developed by Kier to provide a residential scheme, 'Bishops Mead'. Persimmon Homes is currently developing 347 residential units immediately adjacent to the east of the Kier site. Further information can be found at publicaccess.fdean.gov.uk.
Tenure
Freehold.
Description
The property comprises a substantial warehouse (currently used as a finishing shop) and standalone office buildings with staff ancillary accommodation totalling approximately 53,452 sq ft. The property benefits from on-site parking and a site area of approximately 3.74 acres (1.51 hectares).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
EPC
Available in the legal pack.
Description
The property comprises a substantial warehouse (currently used as a finishing shop) and standalone office buildings with staff ancillary accommodation totalling approximately 53,452 sq ft. The property benefits from on-site parking and a site area of approximately 3.74 acres (1.51 hectares).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
EPC
Available in the legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Ground
Warehouse Office/Ancillary
3,719.6 sq m 1,246.2 sq m
(40,038 sq ft) (13,414 sq ft)
JD NORMAN LYDNEY LIMITED (1) guaranteed by JD Norman Industries Inc (2)
10 years from 01/09/2018 until 31/08/2028 on a full repairing and insuring lease
£125,000
01/09/2023
Total
4,965.80 sq m
(53,452 sq ft)
£125,000
(1) For the year ending 31st December 2017, JD Norman Lydney Limited reported a turnover of £20,931,138, pre-tax profits of £682,617 and a total net worth of £222,347 (Source: Experian Group 17/06/2019). (2) JD Norman Industries Inc is a diversified manufacturer of metal components and systems, with operations in North America and Europe. The company serves major original equipment manufacturers of automotive, industrial and transportation products (Source: www.jdnorman.com 11/06/2019).
