430 Vale Park, Enterprise Way, Evesham

1. Modern industrial sale & leaseback investment opportunity located on the highly successful and established Vale Park, Evesham, located in close proximity to Birmingham and Worcester
2. Strategically accessed immediately off the A46 which provides direct access to the A44 and Junction 9 of the M5, connecting to the wider national motorway network
3. Excellent connectivity to major UK markets of Birmingham, Manchester and London with just under 90% of the UK population within a 4 hour drive time
4. Property extends to a total of 24,338 sq ft (2,261.07 sq m) including mezzanine floor
5. The property will be let on a new straight 5 year lease to Mad Group (HQ) Limited (D&B rating 2A1), guaranteed by Merrithew International Inc.
6. The passing rent will be rent of £201,828.25 pa, reflecting £8.50 psf (mezzanine rentalised at a 50% rate) with an attractive rent review in the 3rd year to the higher of Open Market Value or CPI compounded annually (with a cap and collar of 2% - 4% p.a.) guaranteeing a significant rental uplift at next review
7. The Mad Group are a highly attractive, low-risk tenant operating as an international leader in the fitness industry with a strong parent company guarantor, Merrithew International Inc
8. EPC – B (46), future proofing the ESG credentials of the asset
9. Freehold

Proposal

We are instructed to seek offers in excess of £2,509,000 (Two Million Five Hundred and Nine Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive net initial yield of 7.50%, a low capital value of £103.09 psf, assuming standard purchaser’s costs which is significantly below the total replacement value of the asset.