Thermal Ceramics, Commercial Road, Wirral International Business Par, Bromborough, CH62 3NL

• Located on the established Wirral International Business Park at Bromborough, close to junction 5 of the M53, linking to the M56 and M6.• Low site cover of approximately 40% on a site of 2.63 hectares (6.5 acres).• 11,769 sq m (126,689 sq ft) warehouse incorporating a canopy and a security gatehouse.• 10 dock level loading doors and one drive-in loading door.• 125 year long Leasehold interest from 25 March 1988 (102 years unexpired) at a current ground rent of £70,000 pa.• Let to Thermal Ceramics UK Limited for a term of 17 years with effect from 1 August 2000 (c.6 years unexpired). The lease is guaranteed by both Thermal Ceramics Europe Limited and Morgan Crucible Company plc.• For the year ending 2 January 2011, Morgan Crucible posted a turnover of £1.017 bn and a pre-tax profit of £67.7m.• The current passing rent is £425,000 pa reflecting c. £37.97 per sq m (£3.53 per sq ft) with our opinion of ERV at £43.05 per sq m (£4.00 per sq ft).• Net current income is therefore £355,000 pa.• Seeking offers in excess of £3,050,000, reflecting a net initial yield of 11%, assuming 5.8% purchasers costs. Adopting our opinionof ERV, this provides a Reversionary Yield of 12.75%, at next review in August 2015. 

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