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STRATFORD-UPON-AVON – 29/29A HIGH STREET PRIME RETAIL INVESTMENT IN AFFLUENT WORLD TOURIST DESTINATION
INVESTMENT SUMMARY • Stratford-upon-Avon is a historic market town in Warwickshire, the birthplace of William Shakespeare, benefitting from 3.8m tourists a year • The town’s catchment population is ranked the 10th most affluent in the UK • The property is situated in a prime retailing pitch, adjacent to the main entrance to Bell Court, which is undergoing a £30 million redevelopment • The property comprises 4,234 sq ft (393.4 sq m) in well configured retail accommodation • Let to Robert Dyas Holdings Ltd (96 branches) on a FRI lease expiring in October 2019 • Majority Freehold • Total Current Income: £100,000 per annum • Price: £1,400,000 • Net Initial Yield: 6.75%
2 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Retail property expertise
A4123
A442 A458
Birmingham
A449
A38 A442
A441
A45 A34
A45
A456 A491
A448
A46 A448
A450
A435
A4177 A449
A46
A449
A429
A44 A44
A422
Worcester
Stratford-upon-Avon
A44
A417
A4103
A4103
A44
A46
A449
A429 A433 A46 A44
A429
LOCATION
DEMOGRAPHICS
Stratford-upon-Avon is a highly affluent and historic market town in Warwickshire. The town is famed as being the birthplace of William Shakespeare, and home of the Royal Shakespeare Company Theatre, which supports the influx of over 3.8 million tourists each year from all over the world. The town lies on the River Avon, and is situated 21 miles South of Birmingham and 82 miles north west of London.
Stratford-upon-Avon displays an estimated primary catchment population of 127,000. The local population swells considerably due to the influx of tourists each year, which contribute approximately £135 million per annum to the local economy.
Stratford-upon-Avon is 8 miles to the south west of junction 15 of the M40 motorway, which provides access to London to the south and the M42 to the north. The town’s station provides regular train services to London Marylebone in circa 2 hours and Birmingham in circa 45 minutes.
3 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
The town’s catchment population is one of the most affluent PROMIS catchments, ranking 10th of the PROMIS centres on the PMA Affluence Indicator. Of the town’s primary catchment population, 38.5% are considered ‘Wealthy Achievers’ compared with the national average of 15.0% (Source: CACI). Furthermore, 63% of the town’s catchment are classed within the ABC1 affluence groups, which compares favourably against the national average of 54% (Source: CACI).
Retail property expertise
RETAILING IN STRATFORD-UPON-AVON Prime retailing in Stratford-upon-Avon is centred on High Street and Bridge Street, where key tenants include Marks & Spencer, Debenhams, Jo Malone, the White Company, Starbucks, Jack Wills, L’Occitane and Body Shop. Work is underway on the £30 million redevelopment of the former Town Square Shopping Centre, to create a new retail and leisure destination. The development will see the creation of 26 new shops, restaurants, cafes and a new four-screen Everyman cinema. The development, named Bell Court, is accessed via High Street, Ely Street and Wood Street and is due to open shortly. Stratford-upon-Avon is a key retail centre and extremely popular tourist destination, which houses an exceptional concentration of excellent multiple retailers, aspirational occupiers and well established independent traders.
4 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Retail property expertise
SITUATION The property is located in a highly prominent position on the eastern side of the High Street, adjacent to the main entrance to the eagerly awaited Bell Court, which will host excellent footfall generators such as H&M, Everyman Cinema, Nandos, All-Bar-One and Byron Burger. Bell Court will also comprise a 248 space, multi-storey car park which will further benefit the High Street. Other nearby occupiers on High Street include:
DESCRIPTION The prominent Grade II listed property was built approximately 400 years ago and is built from traditional timber frame construction. The ground floor provides approximately 3,109 sq ft (288.8 sq m) in well configured retail accommodation. The ground floor shop is fitted with a modern plate glass frontage. The first floor provides storage and ancillary space. The property is serviced at the rear via Rother Street. The second floor is sold off on a 999 year full repairing and insuring lease at a peppercorn rent.
ACCOMMODATION Floor
Use
sq ft
sq m
Ground
Sales
3,109
288.8
First
Storage / Office
ITZA
5 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
943 units 1,125
104.5
4,234
393.4
Retail property expertise
The property comprises 4,234 sq ft (393.4 sq m) in well configured retail accommodation
TENURE Majority Freehold. There is a small loading area to the rear that is held leasehold for a term of 99 years from 10th April 1972 at a peppercorn rent.
COVENANT INFORMATION Robert Dyas Holdings Ltd is the leading home, DIY and garden retailer on the UK high street and trades from 96 stores nationwide. Robert Dyas Holdings Ltd provided the following figures in their last three annual accounts:
TENANCY The ground and first floors are let to Robert Dyas Holdings Ltd on an effective FRI lease for a term of 15 years from 26th October 2004 at a rent of £100,000 per annum. The second floor is sold off on a 999 year lease at a peppercorn rent.
6 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
26/03/2016 Turnover Pre-Tax Profit Net Worth
£120,030,000 -£2,033,000 £12,411,000
Retail property expertise
INVESTMENT COMPARABLES We consider that the property offers an attractive opportunity in a dominant retailing centre at a price that compares favourably with recent market transactions within the town. These include:
7 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Address
Tenant
31 Bridge Street
Holland & Barrett
2-3 High Street
Accessorize
19 Bridge Street
Jo Malone
11 Bridge Street 12-13 High Street
Price
NIY
Date
£1,250,000
5.58%
Current
£890,000
5.15%
May 17
£1,530,000
4.62%
Jan 17
Boots
£5,000,000
5.25%
Jul 16
Joules
£1,793,000
5.30%
Apr 16
Retail property expertise
UNDER OFFER
UNDE RO
FFER
For indicative purposes only. Title plan available upon request.
UND
ER O
UND
ER O
UND
ER O
FFE
R
FFE
R
FFE
R
BELL COURT
UND
ER O
FFE
R
UND
50 metres
PROPOSAL
UNDER OFFER
UNDER OFFER
ER O
FFE
R
EPC
Copyright and confidentiality Experian, 2017. © Crown copyright and database As the building is Listed, an EPC is not required. rightsbeen 2017.instructed OS 100019885 We have to seek offers in excess of
£1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT, for our clients freehold and long leasehold interest in the property. A purchase at this level would reflect a net initial yield of 6.75% assuming purchasers costs of 6.05%.
VAT We understand that the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
FURTHER
Experian Goad Plan Created: 20/06/2017 Created By: Fawcettmead INFORMATION
For more information on our products and services:
For further information or to |arrange an inspection, please www.experian.co.uk/goad [email protected] | 0845 601 6011 contact the sole agent: Graham Fawcett 020 7182 7482 07980 548 852 [email protected]
Joe Baio 020 7182 7489 07515 889 649 [email protected]
www.fawcettmead.co.uk
Misrepresentation Act: The particulars in this brochure are believed to be correct, but accuracy cannot be guaranteed and they are expressly excluded from any contract. Designed by Graphic Outlines Ltd 2017 SUBJECT TO CONTRACT
STRATFORD-UPON-AVON – 29/29A HIGH STREET PRIME RETAIL INVESTMENT IN AFFLUENT WORLD TOURIST DESTINATION
INVESTMENT SUMMARY • Stratford-upon-Avon is a historic market town in Warwickshire, the birthplace of William Shakespeare, benefitting from 3.8m tourists a year • The town’s catchment population is ranked the 10th most affluent in the UK • The property is situated in a prime retailing pitch, adjacent to the main entrance to Bell Court, which is undergoing a £30 million redevelopment • The property comprises 4,234 sq ft (393.4 sq m) in well configured retail accommodation • Let to Robert Dyas Holdings Ltd (96 branches) on a FRI lease expiring in October 2019 • Majority Freehold • Total Current Income: £100,000 per annum • Price: £1,400,000 • Net Initial Yield: 6.75%
2 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Retail property expertise
A4123
A442 A458
Birmingham
A449
A38 A442
A441
A45 A34
A45
A456 A491
A448
A46 A448
A450
A435
A4177 A449
A46
A449
A429
A44 A44
A422
Worcester
Stratford-upon-Avon
A44
A417
A4103
A4103
A44
A46
A449
A429 A433 A46 A44
A429
LOCATION
DEMOGRAPHICS
Stratford-upon-Avon is a highly affluent and historic market town in Warwickshire. The town is famed as being the birthplace of William Shakespeare, and home of the Royal Shakespeare Company Theatre, which supports the influx of over 3.8 million tourists each year from all over the world. The town lies on the River Avon, and is situated 21 miles South of Birmingham and 82 miles north west of London.
Stratford-upon-Avon displays an estimated primary catchment population of 127,000. The local population swells considerably due to the influx of tourists each year, which contribute approximately £135 million per annum to the local economy.
Stratford-upon-Avon is 8 miles to the south west of junction 15 of the M40 motorway, which provides access to London to the south and the M42 to the north. The town’s station provides regular train services to London Marylebone in circa 2 hours and Birmingham in circa 45 minutes.
3 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
The town’s catchment population is one of the most affluent PROMIS catchments, ranking 10th of the PROMIS centres on the PMA Affluence Indicator. Of the town’s primary catchment population, 38.5% are considered ‘Wealthy Achievers’ compared with the national average of 15.0% (Source: CACI). Furthermore, 63% of the town’s catchment are classed within the ABC1 affluence groups, which compares favourably against the national average of 54% (Source: CACI).
Retail property expertise
RETAILING IN STRATFORD-UPON-AVON Prime retailing in Stratford-upon-Avon is centred on High Street and Bridge Street, where key tenants include Marks & Spencer, Debenhams, Jo Malone, the White Company, Starbucks, Jack Wills, L’Occitane and Body Shop. Work is underway on the £30 million redevelopment of the former Town Square Shopping Centre, to create a new retail and leisure destination. The development will see the creation of 26 new shops, restaurants, cafes and a new four-screen Everyman cinema. The development, named Bell Court, is accessed via High Street, Ely Street and Wood Street and is due to open shortly. Stratford-upon-Avon is a key retail centre and extremely popular tourist destination, which houses an exceptional concentration of excellent multiple retailers, aspirational occupiers and well established independent traders.
4 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Retail property expertise
SITUATION The property is located in a highly prominent position on the eastern side of the High Street, adjacent to the main entrance to the eagerly awaited Bell Court, which will host excellent footfall generators such as H&M, Everyman Cinema, Nandos, All-Bar-One and Byron Burger. Bell Court will also comprise a 248 space, multi-storey car park which will further benefit the High Street. Other nearby occupiers on High Street include:
DESCRIPTION The prominent Grade II listed property was built approximately 400 years ago and is built from traditional timber frame construction. The ground floor provides approximately 3,109 sq ft (288.8 sq m) in well configured retail accommodation. The ground floor shop is fitted with a modern plate glass frontage. The first floor provides storage and ancillary space. The property is serviced at the rear via Rother Street. The second floor is sold off on a 999 year full repairing and insuring lease at a peppercorn rent.
ACCOMMODATION Floor
Use
sq ft
sq m
Ground
Sales
3,109
288.8
First
Storage / Office
ITZA
5 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
943 units 1,125
104.5
4,234
393.4
Retail property expertise
The property comprises 4,234 sq ft (393.4 sq m) in well configured retail accommodation
TENURE Majority Freehold. There is a small loading area to the rear that is held leasehold for a term of 99 years from 10th April 1972 at a peppercorn rent.
COVENANT INFORMATION Robert Dyas Holdings Ltd is the leading home, DIY and garden retailer on the UK high street and trades from 96 stores nationwide. Robert Dyas Holdings Ltd provided the following figures in their last three annual accounts:
TENANCY The ground and first floors are let to Robert Dyas Holdings Ltd on an effective FRI lease for a term of 15 years from 26th October 2004 at a rent of £100,000 per annum. The second floor is sold off on a 999 year lease at a peppercorn rent.
6 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
26/03/2016 Turnover Pre-Tax Profit Net Worth
£120,030,000 -£2,033,000 £12,411,000
Retail property expertise
INVESTMENT COMPARABLES We consider that the property offers an attractive opportunity in a dominant retailing centre at a price that compares favourably with recent market transactions within the town. These include:
7 | Fawcett Mead Stratford-upon-Avon – 29/29a High Street
Address
Tenant
31 Bridge Street
Holland & Barrett
2-3 High Street
Accessorize
19 Bridge Street
Jo Malone
11 Bridge Street 12-13 High Street
Price
NIY
Date
£1,250,000
5.58%
Current
£890,000
5.15%
May 17
£1,530,000
4.62%
Jan 17
Boots
£5,000,000
5.25%
Jul 16
Joules
£1,793,000
5.30%
Apr 16
Retail property expertise
UNDER OFFER
UNDE RO
FFER
For indicative purposes only. Title plan available upon request.
UND
ER O
UND
ER O
UND
ER O
FFE
R
FFE
R
FFE
R
BELL COURT
UND
ER O
FFE
R
UND
50 metres
PROPOSAL
UNDER OFFER
UNDER OFFER
ER O
FFE
R
EPC
Copyright and confidentiality Experian, 2017. © Crown copyright and database As the building is Listed, an EPC is not required. rightsbeen 2017.instructed OS 100019885 We have to seek offers in excess of
£1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract and exclusive of VAT, for our clients freehold and long leasehold interest in the property. A purchase at this level would reflect a net initial yield of 6.75% assuming purchasers costs of 6.05%.
VAT We understand that the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
FURTHER
Experian Goad Plan Created: 20/06/2017 Created By: Fawcettmead INFORMATION
For more information on our products and services:
For further information or to |arrange an inspection, please www.experian.co.uk/goad [email protected] | 0845 601 6011 contact the sole agent: Graham Fawcett 020 7182 7482 07980 548 852 [email protected]
Joe Baio 020 7182 7489 07515 889 649 [email protected]
www.fawcettmead.co.uk
Misrepresentation Act: The particulars in this brochure are believed to be correct, but accuracy cannot be guaranteed and they are expressly excluded from any contract. Designed by Graphic Outlines Ltd 2017 SUBJECT TO CONTRACT
