BOLDON BUSINESS PARK, SUNDERLAND, NE35 9PE

Investment Highlights

o Boldon Business Park is a premier North East business park situated less than 1 mile from the A19

o Boldon is prominently located within close proximity to Sunderland and Newcastle Upon Tyne

City Centres The subject property comprises 12,959.5 sqm (139,495 sqft) of industrial

accommodation arranged a total of 28 units

o Multi-let to 10 tenants with 3 vacant units

o Low effective rent of £653,583 pa reflecting £5.49 psf, market evidence indicates ERV’s of

£5.00-£7.50 psf, subject to size of the unit, suggesting good reversionary potential

o Lack of competing supply with good occupier demand and strong tenant retention at the

subject property

o WAULT of 4.32 years to expiry and 3.00 years to break (excluding rental top-ups)

o The site area is approximately 23 hectares (56.9 acres)

o Asset management opportunities to the vacant units and development potential

o Freehold.

We are instructed to seek offers in excess of £8,755,000 subject to contract and exclusive of VAT. A

purchase at this level would reflect a Net Initial Yield of 7.00% (inclusive of rental top-ups), reversionary

to 9.00% allowing for standard purchaser’s costs.

Proposal

National Investment

Boldon Business Park forms part of The Boldons, a

group of three villages – East Boldon, West Boldon

and Boldon Colliery situated in close proximity to

the northern boundary of the metropolitan area of

Sunderland in the North East of England. The

property is located 6.3 miles north west of

Sunderland, 5.7 miles south west of South Shields

and 8.5 miles south east of Newcastle upon Tyne.

Boldon is situated immediately east of the A19 dual

carriageway which provides direct access to the

national motorway networks and the A184 to

Newcastle upon Tyne. There are currently works

underway to widen the A19 to provide three

carriageways. In addition the A19 provides direct

access to the A1 which serves as the principal

connection between the north east and south of

England.

East Boldon is situated on the Green Line of the

Tyne and Wear Metro. The rapid transit and light rail

system serves Newcastle upon Tyne, Gateshead,

North/South Tyneside and Sunderland. Sunderland

Rail Station is operated by Grand Central Trains

which provide services to London and York with a

typical journey time of 200 minutes and 100 minutes

respectively.

Newcastle upon Tyne International Airport is

located 13.9 miles to the north west providing a

wide range of domestic and international flight

services. Durham Tees Valley Airport is located 34.7

miles to the south.

Location

National Investment

The property is prominently situated along the

western side of the B1298, an interlinking road

connecting to the A184 to the south and A19 to the

north. The A184 travels 5.7 miles to the west towards

Newcastle city centre and 3.9 miles to the east

where it intersects with the A1018, which provides

direct access to Sunderland city centre. The A19,

which can be accessed c. 0.8 miles to the north

and south, a major trunk road connecting York to

Newcastle Upon Tyne via Boldon.

Boldon Business Park is located within an

established commercial location, lying adjacent to

a large industrial site and within proximity to Boldon

Retail Park. The industrial site is tenanted by a mix of

local and national occupiers including Cooper Car

Clinic, Northumbria Optical Coatings and Finning

UK. Boldon Retail Park, located 0.5 miles to the east,

is anchored by Cineworld, Nando’s, McDonalds,

Starbucks and an Asda Superstore.

Boldon Colliery, a dense residential area lies along

the northern boundary of the site. East Boldon

Station is located 2.4 miles to the east of the

property, via the A184.

Situation

National Investment

Description

The subject property comprises part of an Industrial Estate consisting of a mixture of multi-terraced light

industrial buildings sub-divided into five individual units, constructed in 2006 and known as Boldon Court, with

a further eight further standalone industrial warehouse units situated within the Boldon Business Park, all with

associated car parking, service yards and areas of soft landscaping around the site perimeter.

Tenancies & Accommodation

The property is let to 10 individual tenants in accordance with the attached tenancy schedule generating

an effective rent of £653,583 per annum, equating to a low overall passing rent of £5.49 psf with a Weighted

Average Unexpired Lease Term (WAULT) of 4.32 years to expiry, 3.00 years to breaks. There are three vacant

units totalling 20,220 sq ft (1,878.50 sq m), accounting for 17% of the total Estimated Rental Value.

The total freehold site area extends to 23 hectares (56.9 acres).

Please refer to the schedule of accommodation and tenancies overleaf, for further information.

Site Plan

Accommodation & Tenancy Schedule

Demise TenantArea

(sq m) Area

(sq ft) LeaseStart

LeaseExpiry

BreakOption

RentReview

WAULT(Expiry)

WAULT(Break)

EffectiveRent

(£ p.a.)

EffectiveRent

(£ psf)Comments

Unit 2 Vacant 511.2 5,502 1.00 1.00 £41,300 £7.50Marketed by Avison Young. Unit subject to 12 month rent, rates and service charge guarantee.

Unit 4 Universal Systems Solutions (Security) Limited 308.2 3,317 16/04/2015 15/04/2020 0.54 0.54 £26,540 £8.00

Unit 5 Advanced Workshops Ltd. 310.4 3,341 01/08/2014 31/07/2024 31/07/2019 01/08/2019 4.84 4.84 £22,000 £6.58

Unit 6 Vacant 383.5 4,128 1.00 1.00 £31,000 £7.50Marketed by Avison Young. Unit subject to 12 month rent, rates and service charge guarantee.

Unit 9 Analytix Limited 384.6 4,140 24/02/2011 23/02/2021 24/02/2016 1.40 1.40 £31,095 £7.51

Unit 10 Vacant 983.8 10,590 Marketed by Knight Frank

Unit 11A Parts Alliance Group Limited 520.0 5,597 21/08/2018 20/08/2028 28/09/2024 20/08/2023 8.90 5.00 £33,600 £6.00

Unit 11B Beck & Pollitzer Engineering Limited 563.4 6,064 01/09/2016 31/08/2021 1.92 1.92 £33,948 £5.60 2019 break option not exercised.

Unit 12 Royal National Lifeboat Institution 524.5 5,646 12/08/2017 11/08/2023 12/08/2020 12/08/2020 3.87 0.87 £35,625 £6.31

Unit 13 Selecta U.K. Limited 858.1 9,236 17/04/2012 16/04/2022 2.55 2.55 £50,000 £5.41

Unit 14 Balfour Beatty Group Limited 1,244.3 13,394 10/01/2016 09/07/203109/01/202609/01/2029

10/01/2021 11.78 6.28 £70,000 £5.23

Unit 15 FM Coatings Limited 1,634.9 17,598 08/05/2013 07/05/2023 08/05/2023 3.60 3.60 £97,875 £4.83

Unit 16 Nippon Express (UK) Limited 4,732.7 50,942 28/04/2014 27/04/2019 £180,000 £3.53 Holding Over and discussions have commenced to renew the lease

Unit 1 HLA Directors Pension Scheme 30/09/2010 29/09/2135 116.13 116.13

Unit 3Joseph & Joanne Dorian, Kevin Thompson and Investacc Pension Trustees

07/08/2009 06/08/2134 114.98 114.98 £600

Unit 4 Sunderland Hotels Limited 20/08/1990 19/08/2115 96.00 96.00

Unit 5 Council of the Borough of South Tyneside 17/04/1989 16/04/2114 94.66 94.66

Unit 7 James Hay Pension Trustees Limited 24/10/2013 23/10/2138 119.20 119.20

Unit 8 Taylormade North East Limited 31/10/2013 30/10/2138 119.22 119.22

Unit 18 Post Office Counters Ltd. 29/11/1995 28/11/2120 101.28 101.28

Unit 21 Cleveland Cable Cmpany (Holdings) Limited 16/03/2001 15/03/2126 106.58 106.58

Unit 22 Trustees of the NASUWT 13/09/2002 12/09/2127 108.08 108.08

Unit 23 Sepco International Limited 31/07/2003 30/07/2128 108.96 108.96

Unit 24 – Phase 1 SIPP Deal Trustees Limited and Andrew Loughran Preston 27/04/2007 26/04/2132 112.70 112.70

Unit 24 – Phase 2 Andrew Lughran Preston 24/04/2007 26/04/2132 112.70 112.70

Unit 24 – Phase 3 24/04/2007 26/04/2132 112.70 112.70

Unit 25 The Council of the Borough of South Tyneside 22/04/2003 21/04/2178 158.72 158.72

Sub-Station Northern Electric Plc 01/09/1991 31/08/2041 21.99 21.99

Sub-Station Northern Powergrid (North East) Limited 23/02/2007 22/02/2067 47.48 47.48

Sub-Station Northern Electric Plc 16/11/2000 13/11/2175 156.28 156.28

Sub-Station Northern Powergrid Holdings Company Limited 01/07/1989 30/06/2039 19.82 19.82

TOTAL 12,959.5 139,495 4.32 3.00 £653,583 £5.50

National Investment

Tenure Freehold. 14 demised areas are sold off on Long Leasehold, accounting for 39% of the total site area.

EPC

Please refer to the Allsop Marketing Data Room for supporting documentation.

VAT

We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a

Transfer of Going Concern (TOGC).

Allsop Marketing Data Room

For access to the Allsop Marketing Data Room, please refer to the below link:

https://datarooms.allsop.co.uk/register/boldonbusinesspark

Proposal

We are instructed to seek offers in excess of £8,755,000 subject to contract and exclusive of VAT. A

purchase at this level would reflect a Net Initial Yield of 7.00% (inclusive of rental top-ups), reversionary to

9.00% allowing for standard purchaser’s costs.

Co

nta

ct

Jeremy Hodgson

Partner

+44 (0)20 7543 6709

jeremy.hodgson@allsop.co.uk

Tom Dales

Associate

+44 (0)20 7543 6866

tom.dales@allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a)these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as tothe property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any ofits members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property.The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained andexpressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospectivepurchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect theproperty and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (andwhere appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries.Allsop is the trading name of Allsop LLP.

Andrew Wise

Surveyor

+44 (0)20 7543 6731

andrew.wise@allsop.co.uk