PATRIOT DRIVE, MILTON KEYNES, MK13 8PU Prime Retail ...

PATRIOT DRIVE, MILTON KEYNES
Prime Retail Warehouse Investment Opportunity
Investment
Considerations
Location
Catchment
& Demographics
Situation
Retail Warehousing
in Milton Keynes
Description
Tenure
Tenancies
Planning
Asset Management
Potential
Tenants’ Covenants,
VAT, Proposal,
Further Information
Tenants’ Covenants
B&Q is the largest operator in the UK DIY and gardening market, trading from over 320 stores across
the UK. B&Q are part of the Kingfisher Group, the third largest DIY chain in the world, who have
extensive operations in Europe and the Far East.
B&Q plc, the main trading company for the fascia, has a current Dun & Bradstreet rating of 5A1.
We summarise below B&Q’s most recent accounts:
YEAR ENDING SALES TURNOVER PRE TAX PROFIT NET WORTH D&B RATING
(000s) (000s) (000s)
29/01/2011 £3,711,700 £144,700 £3,656,700
30/01/2010 £3,792,400 £400,400 £3,476,400 5A1
31/01/2009 £3,683,300 £113,700 £3,240,400
VAT
The property has been elected for VAT purposes.
Proposal
We are instructed to seek offers for the freehold interest in the above property of £32,031,000
(Thirty Two Million and Thirty One Thousand Pounds) subject to contract and exclusive of VAT.
This reflects an attractive net initial yield of 6.50%, based on purchaser’s costs of 5.80%.
Further Information
Paul Wilkinson
Tel: 020 7317 3799
Mob: 07770 585 313
Email: p.wilkinson@wilkinsonwilliams.co.uk
Ellie Kirkby
Tel: 020 7317 3790
Mob: 07764 241 898
Email: e.kirkby@wilkinsonwilliams.co.uk
Wilkinson Williams,
Heathcoat House, 20 Savile Row, London, W1S 3PR
www.wilkinsonwilliams.co.uk
MISREPRESENTATION NOTICE
Wilkinson Williams LLP give notice to anyone who may read these particulars as follows:
1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract.
2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement of representation or fact.
3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order.
4. The photographs appearing in this brochure show only certain parts of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that
the property remains precisely as displayed in the photographs. Furthermore, no assumptions should be made in respect of parts of the property which are not shown in the photographs.
5. Any areas, measurements or distances referred to herein are approximate only.
6. Where there is reference in the particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property, this is not intended to be a statement that any necessary planning, building
regulations or other consents have been obtained and these matters must be verified by an intending purchaser.
7. Descriptions of the property are inevitably subjective and the descriptions contained herein are given in good faith as an opinion and not by way of statement of fact.
Plans are published for convenience of identification only and although believed to be correct, their accuracy is not guaranteed and they do not form part of any contract.
Designed and Produced by Creativeworld. Tel 01282 858200. February 2012.