ALDI STORES LTD, TOUCHET HALL ROAD ... - King Sturge

REVERSIONARY POTENTIAL
Under the review provisions of the lease, we are of the opinion the property has a
current rental value of £719,700 per annum reflecting a rate of £5.25 ft 2 . We would
draw your attention to the following transactions to support this ERV:
Date Tenant / Address Size Rent (psf) Detail
March 2008 Wolsey Group 103,000 ft 2 £5.10 Letting
Matrix Park, 15 yrs
Chorley
December 2007 Building Skills 57,830 ft 2 £5.50 Letting
Centenary Park, 10 yrs
Trafford Park
September 2007 Keel Supply 51,500 ft 2 £5.25 Letting
Tenax Cross, 10 yrs
Trafford Park
May 2006 DSV (DFDS) 43,101 ft 2 £5.43 Rent review
Stakehill 15 yrs
(opposite assumed
subject property) term.
VAT
The property has been elected for VAT.
PROPOSAL
We have been instructed to seek offers in excess of £8.76 million (Eight Million
Seven Hundred and Sixty Thousands Pounds) subject to contract and exclusive
of VAT, for the benefit of our client’s freehold interest in the property. An acquisition
at this level will show a purchaser a net initial yield of 7.25% assuming standard
purchasing costs of 5.75% and a capital cost of only £63 per ft2 . Based upon our
ERV, the net reversionary yield in June 2009 is 7.75% and an equivalent yield of
7.72%.
FURTHER INFORMATION
Please contact:
Bruce Spencer James Porteous
Tel: 020 7084 5334 Tel: 0161 238 7408
Mob: 07715 178 511 Mob: 07976 741 273
Email: bruce.spencer@kingsturge.com Email: james.porteous@kingsturge.com
Misrepresentation Clause: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained
herein is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy
themselves as to their accuracy. Neither King Sturge nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into
any contract whatever in relation to the property.
Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute
a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/purchasers should satisfy
themselves as to the fitness of such equipment for their requirements.
Subject to Contract
Exclusive of VAT
April 2008