62-66 Strand Street amended.13.02.17
To Let
Prime New Retail Unit
62-66 Strand Street Douglas, Isle of Man
Accommodation 62-66 Strand Street will provide sales accommodation on ground and first floors in a modern, purpose built unit. The design incorporates an impressive double height glazed frontage and 4m floor to ceiling heights. The property will be served by a 26 person / 2000kg passenger and goods lift with 1.4m clearance for pallets. The shop has been designed for flexibility and can be occupied with retail over ground and first floors or, with the public staircase removed, retail on ground with first floor storage. The landlord will install the shop front and retail staircase. Total:
4,928 sq ft
Ground floor:
2,590 sq ft
First floor:
2,338 sq ft
Floor to ceiling:
13’2” / 4.00 m
Gross frontage:
39’0” /11.90 m
Internal width (average):
35’8” / 10.87 m
Shop depth:
84’2” / 25.64 m
Ground floor retail 240.5 m² / 2,590 sq ft approx
First floor retail 217.2 m² / 2,338 sq ft approx
100% prime trading position 62-66 Strand Street adjoins Topshop in the middle of the pedestrianised centre of Douglas, the Island’s capital. Douglas is the Island’s administrative centre and Strand Street is the only multiple shop destination on the Island. Marks & Spencer, Boots, Next, New Look, River Island, Monsoon, TK Maxx and Mountain Warehouse are located nearby. Planning and retail policy is controlled by the Isle of Man Government who are supportive of a town centre only approach to retail. The Government is completing a £15m regeneration scheme for the centre of Douglas and 62-66 Strand Street stands at the heart of this scheme.
The Isle of Man
The Isle of Man is a self-governing Crown Dependency with a diversified economy based on banking, insurance, shipping, advanced engineering and ICT. The Island is also an international centre for e-gaming, with companies such as Microgaming and PokerStars headquartered in Douglas. The nearest competing shopping centres are a journey away in Liverpool or Manchester so, in retail terms, the resident population comprises a captive audience.
Household spending higher than UK average Average Weekly Expenditure All Households
UK
IOM
Food & non-alcoholic drinks
56.8
78.24
Alcoholic drink, tobacco & narcotics
12.60
18.73
Clothing & footwear
23.40
26.25
Housing, fuel & power
68.00
88.12
Household goods & services
28.5
41.77
Health
6.40
14.33
Transport
64.10
81.11
Communication
13.80
21.11
Recreation & culture
61.5
80.55
Education
6.80
18.26
Restaurants & hotels
40.5
44.23
Miscellaneous goods and services
38.40
50.27
All expenditure groups
420.70
562.98
Other expenditure items
68.30
229.35
Total expenditure
489
792.33
Sources: Office for National Statistics: Family Spending, 2013 Edition Isle of Man Government: Isle of Man Household Income and Expenditure Survey 2013
The Island has a well balanced economy, rated Aa1 by Moody’s. With a GDP of over £4bn, it has a higher income per capita than the EU average. GDP per capita as a percentage of the UK GVA per capita is 212% for 2013/14. Unemployment stands at only 2% of the working population. Average Weekly Expenditure All Households in 2013 was £792.33 versus £489.00 in the UK.
Quoting rent The proposed rent is £160,000 pa exclusive of VAT, rates and insurance.
Terms The property is available on a new lease on full repairing and insuring terms, for a term of years to be agreed, with rent reviews every 5�� year.
Rates Rates in the Isle of Man are significantly lower than in the UK. The rates payable for the new building are estimated to be in the region of £10,600 pa. Interested parties are advised to make their own investigations with Treasury and Douglas Borough Council.
Further information Dave Chapman +44 (0)1624 623127 [email protected]
Thomas Chapman +44 (0)1624 623127 [email protected]
The site at 62,64 & 66 Strand Street
30 Athol Street, Douglas, Isle of Man, IM1 1JB www.chapman.im
Disclaimer All premises are offered subject to contract and availability. All dimensions are indicative and subject to measurement upon completion of building work. These particulars are issued without responsibility on the part of the vendor or lessor and Chapman & Co Ltd and any of their respective employees or agents and serve only as an introductory guide to the premises. No part of them constitutes a term of contract or representation upon which any reliance can be placed. Any party with an actual or prospective interest in the premises must satisfy themselves as to any matter concerning the premises by inspection, independent advice or otherwise. Neither Chapman & Co, nor any of their employees or agents have any authority to make or give any representation or warranty as to the premises whether in these particulars or otherwise. Unless otherwise stated all prices and rates are quoted exclusive of value added tax (VAT). Any intending purchaser or lessee must satisfy themselves as to the incidence of VAT concerning any transaction.
Prime New Retail Unit
62-66 Strand Street Douglas, Isle of Man
Accommodation 62-66 Strand Street will provide sales accommodation on ground and first floors in a modern, purpose built unit. The design incorporates an impressive double height glazed frontage and 4m floor to ceiling heights. The property will be served by a 26 person / 2000kg passenger and goods lift with 1.4m clearance for pallets. The shop has been designed for flexibility and can be occupied with retail over ground and first floors or, with the public staircase removed, retail on ground with first floor storage. The landlord will install the shop front and retail staircase. Total:
4,928 sq ft
Ground floor:
2,590 sq ft
First floor:
2,338 sq ft
Floor to ceiling:
13’2” / 4.00 m
Gross frontage:
39’0” /11.90 m
Internal width (average):
35’8” / 10.87 m
Shop depth:
84’2” / 25.64 m
Ground floor retail 240.5 m² / 2,590 sq ft approx
First floor retail 217.2 m² / 2,338 sq ft approx
100% prime trading position 62-66 Strand Street adjoins Topshop in the middle of the pedestrianised centre of Douglas, the Island’s capital. Douglas is the Island’s administrative centre and Strand Street is the only multiple shop destination on the Island. Marks & Spencer, Boots, Next, New Look, River Island, Monsoon, TK Maxx and Mountain Warehouse are located nearby. Planning and retail policy is controlled by the Isle of Man Government who are supportive of a town centre only approach to retail. The Government is completing a £15m regeneration scheme for the centre of Douglas and 62-66 Strand Street stands at the heart of this scheme.
The Isle of Man
The Isle of Man is a self-governing Crown Dependency with a diversified economy based on banking, insurance, shipping, advanced engineering and ICT. The Island is also an international centre for e-gaming, with companies such as Microgaming and PokerStars headquartered in Douglas. The nearest competing shopping centres are a journey away in Liverpool or Manchester so, in retail terms, the resident population comprises a captive audience.
Household spending higher than UK average Average Weekly Expenditure All Households
UK
IOM
Food & non-alcoholic drinks
56.8
78.24
Alcoholic drink, tobacco & narcotics
12.60
18.73
Clothing & footwear
23.40
26.25
Housing, fuel & power
68.00
88.12
Household goods & services
28.5
41.77
Health
6.40
14.33
Transport
64.10
81.11
Communication
13.80
21.11
Recreation & culture
61.5
80.55
Education
6.80
18.26
Restaurants & hotels
40.5
44.23
Miscellaneous goods and services
38.40
50.27
All expenditure groups
420.70
562.98
Other expenditure items
68.30
229.35
Total expenditure
489
792.33
Sources: Office for National Statistics: Family Spending, 2013 Edition Isle of Man Government: Isle of Man Household Income and Expenditure Survey 2013
The Island has a well balanced economy, rated Aa1 by Moody’s. With a GDP of over £4bn, it has a higher income per capita than the EU average. GDP per capita as a percentage of the UK GVA per capita is 212% for 2013/14. Unemployment stands at only 2% of the working population. Average Weekly Expenditure All Households in 2013 was £792.33 versus £489.00 in the UK.
Quoting rent The proposed rent is £160,000 pa exclusive of VAT, rates and insurance.
Terms The property is available on a new lease on full repairing and insuring terms, for a term of years to be agreed, with rent reviews every 5�� year.
Rates Rates in the Isle of Man are significantly lower than in the UK. The rates payable for the new building are estimated to be in the region of £10,600 pa. Interested parties are advised to make their own investigations with Treasury and Douglas Borough Council.
Further information Dave Chapman +44 (0)1624 623127 [email protected]
Thomas Chapman +44 (0)1624 623127 [email protected]
The site at 62,64 & 66 Strand Street
30 Athol Street, Douglas, Isle of Man, IM1 1JB www.chapman.im
Disclaimer All premises are offered subject to contract and availability. All dimensions are indicative and subject to measurement upon completion of building work. These particulars are issued without responsibility on the part of the vendor or lessor and Chapman & Co Ltd and any of their respective employees or agents and serve only as an introductory guide to the premises. No part of them constitutes a term of contract or representation upon which any reliance can be placed. Any party with an actual or prospective interest in the premises must satisfy themselves as to any matter concerning the premises by inspection, independent advice or otherwise. Neither Chapman & Co, nor any of their employees or agents have any authority to make or give any representation or warranty as to the premises whether in these particulars or otherwise. Unless otherwise stated all prices and rates are quoted exclusive of value added tax (VAT). Any intending purchaser or lessee must satisfy themselves as to the incidence of VAT concerning any transaction.
