FREEHOLD CAR DEALERSHIP INVESTMENT

FREEHOLD CAR DEALERSHIP INVESTMENT

Tesla Motors 396 Wellington Road (A6) Stockport SK4 5AE

Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

Investment Summary

Location

Situation

Description

Accommodation

Tenure

Motor Retail Investment Market

Further Information

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Location

Situation

Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

Description

Accommodation

Tenure

Motor Retail Investment Market

Further Information

Investment Summary

? A purpose-built vehicle dealership that has been recently redesigned and refurbished to a high specification.

? Located in Stockport, prominently situated on the A6 Wellington Road, the main link road between Manchester and Stockport.

? Buildings of 15,641 sq ft, on a site of 1.18 acres.

? Let to Tesla Motors Limited (guaranteed by Tesla Motors Netherlands BV) on a new 15 year FRI lease from 8 September 2015, with tenant break options after five and ten years.

? The rent is to be reviewed five yearly, upward only in accordance with RPI, collared and capped at 1%-3%.

? The initial rent is ?140,000 per annum, reflecting only ?8.95 per sq ft overall.

? W e are instructed to seek offers in excess of ?1,765,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.5%.

Investment Summary

Location

Situation

Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

Description

Accommodation

Tenure

Motor Retail Investment Market

Further Information

Location

Stockport is located 7 miles south of Manchester city centre with, as at 2011, a resident district population of approximately 283,000. Given the property's proximity to the wider Manchester conurbation, the population within five miles of the subject property is estimated to be around 796,000.

The town has excellent road communications being served by Junctions 1 and 27 of the M60 Manchester Orbital

PRESTON

A677

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Birmingham. A59 A582

30

A646

29

5

29 1

3

4 M65

A56

RAWTENSTALL

LEYLAND 28

DARWEN

A565

8

ORT

M6 Chorley

A570

A59

A5209

27

M61

1 A58

A58

Bolton

M66 Rochdale 21

Te2nure A58 20

ORMSKIRK

Skelmersdale

A59

3

4

5

26

M58

1

6

A676

A666 5

3 A56

19 M62

4 M61 3

17 16

19 20

A663 Oldham 21 22 A627

A570

25

7

A58

A580

A5036 65

A5053

6 4 M57 3

A5058

A580 120

Liverpool

5

6 1

St Helens

24 23

A58

A57 7

M62 A57

22

10

9

21A

A580

11 21

M62 A57

12 1

M602

3

11 10

9

Manchester

A5103

87

6

5

A34

A56

Altrincham

32

4 1

32

23

24

3

M60

A6

25

27 26

1

Stockport

nhead

A5300

A41 3

56

A550

A561

Widnes

Liverpool John Lennon

Airport

A557

RIVER MERSEY 12

7

8

9 Ellesmere

Port

10

14

M56

A5117

11 15

A41

M6

20

A56

9

10 11

A533

A49

Northwich

M56

87

4 5

6

Manchester Airport

19

A34

A556

A537

M6

A6 A523

A537

Macclesfield

M53 A5116

A556

Manchester

4

STOCKPORT

A57 HYDE ROAD

A6 ROAD

A3 OXFORD

ROAD

WILMSLOW

A8010

MAULDETH ROAD W.

ROAD

ALB ERT RD CROSSLEY RD

ROAD

A5103

KINGSWAY A34

BARLOW MOOR RD

ELMWOOD

Heaton Moor

Golf Club

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HEATON MO

Didsbury Golf Club

3

2 M56

A 5145

DIDSBURY ROAD

Parrs Wood

1

M60

2 13

RD STOCKPORT

A5 60 Cheadle

A510 2 A34

STOCKPORT ROAD

A6

A626

Denton Golf Club

24

1A M67 2

Denton

GORTON ROAD

BARLOW ROAD

M60

A6017

B6167

REDDISH ROAD

A627 25

A560

27

26 STOCK PORTROAD WEST

A6 2

Stockport

A626

Investment Summary

Location

Situation

Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

Description

Accommodation

Tenure

Motor Retail Investment Market

Further Information

Situation

The property is situated in a prominent location on the A6 Wellington Road, the main link road between Manchester and Stockport, just north of its junction with the A626. The A6 and A626 lead directly to Junctions 1 and 27 of the M60 respectively, two miles to the south.

There is a range of commercial occupiers located close by on the A6 including, to the north, Aldi, Morrisons, KFC, McDonald's and Texaco and Shell branded forecourts, all within ? mile of the subject site. Similarly, to the south, occupiers within a mile include Mercedes and Ford car dealerships, Topps Tiles, Boots Opticians, Safestore and an Esso branded filling station.

Tenure

Investment Summary

Location

Situation

Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

Description

Accommodation

Tenure

Motor Retail Investment Market

Further Information

Description

The property comprises a purpose-built car dealership facility with a showroom building to the front of the site, together with a larger self-contained workshop building to the rear. The tenant has invested heavily in the refurbishment and fitting out of the property.

Internally, the showroom provides display for three vehicles (it previously had capacity for seven display vehicles prior to refurbishment), and benefits from full height glazing to the front and sides. Ancillary offices are provided on both ground and first floors.

The rear building has been redesigned and refurbished to accommodate a workshop with seven vehicle service bays (it previously had nine), storage accommodation and a rear valet area.

Both buildings have undergone extensive fit out works by Tesla in accordance with its corporate branding.

To the front of the site there is generous vehicular display provision for approximately 32 vehicles. There is additional parking to the rear, including a secure parking compound, which in total can accommodate around a further 60 vehicles.

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