A superb opportunity to acquire 16.8 acres of strategic freehold properties with development potential
For Sale
The Wharfside Portfolio
Executive Summary The Wharfside Portfolio offers:
An outstanding and unique opportunity to purchase a portfolio of 5 key strategic properties with redevelopment potential located in Trafford Park, Greater Manchester.
The 5 properties, totalling some 16.8 acres (6.8 ha), are within 2 miles of Manchester’s City centre and one mile of The Trafford Centre.
There is a planned extension to the MetroLink connecting Manchester’s City Centre to The Trafford Centre which all these properties will benefit from.
The properties are within an area identified for substantial inward investment for mixed business, leisure, infrastructure and residential uses.
We believe the Wharfside Portfolio offers a unique and genuine opportunity to enhance value through redevelopment for alternative uses such as leisure, hotel, offices and residential.
The sites are in close proximity to numerous key North West developments and attractions which include:
Trafford Park, Greater Manchester
Manchester United Football Club
The Trafford Centre
Media City
Trafford Gateway, Victoria Place:
Site Information
= Existing MetroLink Line = Proposed MetroLink Extension = Proposed MetroLink Stations
9 Wharfside Way:
Trafford Gateway
Located on a prominent corner of Wharfside Way, this 2.5 acre (1.0 ha) site offers short term income with considerable redevelopment opportunities thereafter, such as a hotel or an office scheme.
Rank Hovis Building
Located adjacent to the recently unveiled Howard Holdings Stratum mixed use development which will, subject to planning, provide circa 68,500 sqft of offices, 190 hotel rooms, 750 apartments and 370 new jobs. This 1.0 acre (0.4 ha) open site is available for immediate development and we envisage similar complimenting uses. There is an existing consent for this property to be developed in conjunction with the adjoining site for a mixed use scheme.
3 Wharfside
Wharfside 99 Wharfside
Elevator Road, Wharfside Way:
3 Wharfside Way:
Elevator Road
This 3.9 acre (1.6 ha) site offers short term income from lorry parking and existing light industrial buildings. Located in very close proximity to the new North West Development Agency’s office development for the Manchester Chamber of Commerce. This site has historically benefitted from planning consent for substantial office accommodation and fronts the proposed Imperial War Museum MetroLink stop. Imperial War Museum
BBC Media City
Lowry Theatre
Canalside, John Gilbert Way: This good quality modern industrial estate offers medium term income; however due to it’s location adjoining Manchester United Football Club’s ownership and size (2.7 acre/1.1 ha), it could in the longer term offer alternative uses.
Canalside
Lowry Outlet Mall
Bupa Century & Head Offices Rock Radio
The Quays
CIS Building
Manchester Beetham City Centre Tower
Exchange Quays
Premier Inn
Lancashire County Cricket Club (Old Trafford)
This 6.7 acre (2.7 ha) site has a considerable frontage along Wharfside Way; it is currently held on two leases expiring in late 2009 at which point, redevelopment of the site would be possible. The site benefits from bordering the Bridgewater Canal and neighbouring Manchester United Football Club. We believe this site offers the opportunity for a substantial leisure complex.
Manchester United Football Club (Old Trafford)
=The Wharfside Portfolio
Location
Demise GEA (Sq ft) Tenant 3 Wharfside Way 164,475 Warehouse Kerry Logistics (UK) Ltd 13,634 Unit B2 Kerry Logistics (UK) Ltd
Key locational characteristics: Trafford Park covers an area of 1,200 acres (485 ha). The Park is home to 1,400 companies employing approximately 35,000 people.
9 Wharfside Way 66,489 Warehouse Sita (Lancashire) Ltd 11,880 Speedy Hire Speedy Hire Centres (Southern) Ltd
Close proximity to established retail, leisure and tourist destinations - Trafford Centre, Imperial War Museum and the Lowry Centre. The Trafford Centre is a £1.6bn shopping and leisure destination annually attracting 30 million visitors to its 230 stores with an average spend of £100 per visit.
30/11/2009 £377,000 01/12/2009 £43,340
Manchester United Football Club
04/06/2012 £122,500 07/12/2010 £80,230
£202,730 Sub total 78,369 Canalside 11,775 Unit A AGA Food Ltd 15,963 Unit B TrendTidy Ltd 8,986 Unit C Acrison Int (UK) Ltd 5,303 Unit D Polish Village Bread 6,436 Unit E Vacant 6,109 Unit F TrendTidy Ltd 5,367 Unit G TrendTidy Ltd
High profile mixed use developments either proposed or under construction such as Media City and the proposed Stratum development. Media City will provide employment opportunities for 15,500 people and deliver an additional £1.5bn to the regional economy. Access to major thoroughfares (A56 and A5081) providing direct links to the UK motorway network (M602, M60 and M62).
Sub total
Manchester City Centre just 2 miles to the east and Salford City Centre approx 2 miles to the north.
Key strategic regeneration area linking Media City and Salford to Trafford Park and Manchester City Centre.
Lease End Net Rent (pa)
178,109 £420,340 Sub total
Close proximity to two international sporting venues - Manchester United Football Club and Lancashire County Cricket Club.
Proposed MetroLink extension to connect Manchester City Centre to the Trafford Centre. The intended route will pass directly in front of four out of the five properties and there are three stations planned close to these.
Tenancy Schedule
Attractions:
1: The Trafford Centre 2: Lancashire County Cricket Club 3: Manchester United FC 4: Imperial War Museum 5: Media City 6: Lowry Centre 7: Trafford Ecological Park
Hotels:
A: Premier Inn B: Copthorne C: Etap / Ramada Encore D: Express Holiday Inn E: Premier Inn F: Old Trafford Lodge
£61,900 16/01/2012 £83,900 08/03/2011 £52,400 31/01/2010 £31,000 21/12/2011 N/a N/a £38,185 31/03/2011 £31,400 31/03/2011
Lancashire County Cricket Club
59,939 £298,785
Elevator Road 9,359 Unit 1 Special Flange Services Ltd 1,254 Offices B-Serv Ltd N/a Site 1 Peter Colby Commercials Ltd N/a Site 2 Peter Colby Commercials Ltd
Imerial War Museum
£33,700 23/06/2010 N/a N/a £17,000 01/07/2010 £16,000 12/09/2007
Sub total
10,613
Overall total
327,030
Additional tenancy information is available on request.
£66,700
£988,555 The Trafford Centre
The Opportunity Manchester is regarded as the UK’s second largest financial centre outside London and is the administrative centre for the North West. It is the third most populous conurbation in the UK with 2.5 million people and is the centre of a £75 billion economy. This is a superb opportunity to purchase circa 16.8 acres (6.8 ha) of strategic development land lying only 2 miles away from Manchester City Centre in Trafford Park. This unique portfolio offers the chance to acquire five freehold regeneration opportunities; enabling the purchaser to transform predominantly outdated industrial properties into aspirational mixed use developments. Whilst developing their planning strategy the purchaser will benefit from the receipt of significant short term income of £988,555 per annum. This part of Trafford Park is set for significant regeneration over the next 10 years and this portfolio offers a purchaser the opportunity to influence this major change of the local environs. Examples of this change can be seen all around Trafford Park with key developments such as: •
All Enquiries & Further Information Manchester:
Manchester:
London:
London:
Nick Mullins CB Richard Ellis +44 (0) 161 233 5638 nick.mullins@cbre.com
Steven Johnson King Sturge +44 (0) 161 238 6238 steven.johnson@kingsturge.com
Sue Clayton CB Richard Ellis +44 (0) 207 182 2387 sue.clayton@cbre.com
Will Hughes King Sturge +44 (0) 207 087 5380 william.hughes@kingsturge.com
The regeneration of The Quays, which has included the development of The Lowry Theatre, the Outlet Mall, extensive residential and office accommodation. The latest phase being Media City; which is set to be the most significant media based development in the UK anchored by the BBC and will become a key global location for the leading creative and digital businesses.
• Old Trafford; the home of Manchester United Football Club; which was recently extended to a 76,000 seater stadium and hosts 40 home games annually. Manchester United is arguably the world’s most successful and wealthiest football club. • The Trafford Centre; one of the country’s six regional shopping centres, this £1.6bn retail and leisure destination offers over 230 stores to 30 million visitors annually. The scheme has recently completed its Barton Square extension that further improves the retail offer.
Planning This area has been identified as a mixed business, leisure and residential location and we would anticipate these uses to be acceptable to the Local Planning Authority. A masterplan is currently being developed for Trafford Park. For all planning enquiries we would request contacting the agents in the first instance and we can then direct you to the right person within Trafford Metropolitan Borough Council.
Proposition Offers are invited for the opportunity either on the basis of the whole portfolio or for individual sites, subject to contract. All properties are elected for VAT and therefore VAT will be payable on purchase.
Disclaimer CB Richard Ellis Limited and King Sturge LLP (“We”) for themselves and for the vendor/lessor as agents for the vendor/lessor give notice that: 1. We provide the information contained in these particulars for guidance to intending purchasers, licensees or any other third parties and they are for your general information only and will be used at your own risk and they do not form the whole or part of any contract. 2. We will use all reasonable endeavours to ensure the accuracy of information, however, we do not guarantee or warrant the accuracy or completeness, factual correctness or reliability of any information in the particulars (especially as the information may have been obtained from third parties) and do not accept any liability for any errors or omission including any inaccuracies or typographical errors. 3. Any interested purchasers, licensees or any other third parties should not view the information in the particulars as statements or representations of fact and should satisfy themselves that the facts and specific details in the particulars are correct and accurate especially in relation to floor areas and other measurements through inspection or other means, as appropriate, and will be responsible for taking independent surveys or valuations before entering into any legally binding transaction in respect of the property or premises that is the subject matter of these particulars. 4. We have not made any investigations or otherwise of any issues concerning pollution and potential land, building, air or water contamination. Prospective purchasers, licensees or any other third parties must undertake their own enquiries and satisfy themselves in this regard. 5. Unless otherwise stated, all prices and rents are quoted exclusive of VAT.