For Sale - GVA
For Sale 237 High Street Bangor Gwynedd LL57 1PA
October 2015 Retail Investment • Let to Clarks with circa 7 years unexpired. • Producing £40,000 per annum. • Full repairing and insuring lease terms. • NIA 216.56 sq m (2,331 sq ft). • Prominent frontage onto High Street. • Offers in the region of £335,000, reflecting a NIY of 11.44%.
08449 02 03 04 gva.co.uk/9100
Location
Tenure
The property is located in the heart of Bangor City Centre, occupying a prime position to the southern side of High Street, the main retail pitch within the city. The property is situated 500 ft south of the Deiniol shopping centre and lies 400 ft south east of Waterloo Street. National multiple retailers within the immediate vicinity include River island, Topman/Topshop, Wallis, New look, Burton, Clarks, Boots, Carphone Warehouse, Sports Direct, HMV, Costa and KFC.
The property is held freehold under title number WA701413.
The city’s population within the primary catchment area is approximately 168,000, with an estimated shopping population of 80,000, both significantly above the national small town average (Promis). Major road access into Bangor comes via the junction 11 of the A55 connecting Bangor to key west English cities such as Liverpool, Manchester and Chester. The A55 provides easy access to both the M56 and the M6. By rail Chester provides connecting services to London Euston with journey time of 3 hours. Regular services are available to Cardiff in approximately 4 hours and Liverpool in 1 hour and 50 minutes.
Tenancy The property is let in its entirety to C & J Clark International for a term of 10 years from the 25th of March 2012 on full repairing and insuring terms at a current rent passing of £40,000 p.a. There is a break clause on the 25th of March 2017. Clarks are an established international shoe retailer. Year End
31/01/2015
31/01/2014
Turnover
£893,000,000
£876,400,000
Pre-Tax Profit/(Loss)
£110,600,000
£88,800,000
Net Worth
£261,700,000
£207,900,000
Net Current Assets
£262,200,000
£208,400,000
Rating Assessment Total Aggregate Rateable Value: Billing Authority:
£38,000 Gwynedd
Rate in the £ for 2015/16 is 49.3p.
Services We understand that main services are available to the property.Interested parties should rely on their own enquiries with therelevant statutory undertakers.
Asking Price Unconditional offers are invited in the region of £335,000 reflecting a NIY of 11.44%, assuming acquisition costs of 4.8%.
VAT & Legal Costs All prices are quoted exclusive of, but may be subject to VAT. Each party is to bear their own legal costs.
Description The property comprises a four storey terrace building with traditional frontage onto High Street. The property is of masonry construction under a multi pitched slate roof, with timber frame windows and rendered elevations. The unit provides ground floor retail with ancillary accommodation at basement, first and second floor levels, to include storage, kitchen/staff room and toilet facilities. The ground floor sales area benefits from air conditioning.
Accommodation Description
Sqm
Sqft
Basement Ancillary
54.49
586.52
Ground Floor sales
68.38
736.03
First Floor Ancillary
46.87
504.53
Second Floor Ancillary
43.71
470.49
Third Floor Ancillary
34.21
368.22
247.66
2665.79
Total
EPC The EPC rating is band C. A copy can be made available on request.
For further information please contact: James Cuthbert 0161 956 4003 [email protected] Ian Whittaker 0161 956 4303 [email protected] Henry Prescot 0151 324 0457 [email protected]
08449 02 03 04 gva.co.uk/9100
Bilfinger GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.
October 2015 Retail Investment • Let to Clarks with circa 7 years unexpired. • Producing £40,000 per annum. • Full repairing and insuring lease terms. • NIA 216.56 sq m (2,331 sq ft). • Prominent frontage onto High Street. • Offers in the region of £335,000, reflecting a NIY of 11.44%.
08449 02 03 04 gva.co.uk/9100
Location
Tenure
The property is located in the heart of Bangor City Centre, occupying a prime position to the southern side of High Street, the main retail pitch within the city. The property is situated 500 ft south of the Deiniol shopping centre and lies 400 ft south east of Waterloo Street. National multiple retailers within the immediate vicinity include River island, Topman/Topshop, Wallis, New look, Burton, Clarks, Boots, Carphone Warehouse, Sports Direct, HMV, Costa and KFC.
The property is held freehold under title number WA701413.
The city’s population within the primary catchment area is approximately 168,000, with an estimated shopping population of 80,000, both significantly above the national small town average (Promis). Major road access into Bangor comes via the junction 11 of the A55 connecting Bangor to key west English cities such as Liverpool, Manchester and Chester. The A55 provides easy access to both the M56 and the M6. By rail Chester provides connecting services to London Euston with journey time of 3 hours. Regular services are available to Cardiff in approximately 4 hours and Liverpool in 1 hour and 50 minutes.
Tenancy The property is let in its entirety to C & J Clark International for a term of 10 years from the 25th of March 2012 on full repairing and insuring terms at a current rent passing of £40,000 p.a. There is a break clause on the 25th of March 2017. Clarks are an established international shoe retailer. Year End
31/01/2015
31/01/2014
Turnover
£893,000,000
£876,400,000
Pre-Tax Profit/(Loss)
£110,600,000
£88,800,000
Net Worth
£261,700,000
£207,900,000
Net Current Assets
£262,200,000
£208,400,000
Rating Assessment Total Aggregate Rateable Value: Billing Authority:
£38,000 Gwynedd
Rate in the £ for 2015/16 is 49.3p.
Services We understand that main services are available to the property.Interested parties should rely on their own enquiries with therelevant statutory undertakers.
Asking Price Unconditional offers are invited in the region of £335,000 reflecting a NIY of 11.44%, assuming acquisition costs of 4.8%.
VAT & Legal Costs All prices are quoted exclusive of, but may be subject to VAT. Each party is to bear their own legal costs.
Description The property comprises a four storey terrace building with traditional frontage onto High Street. The property is of masonry construction under a multi pitched slate roof, with timber frame windows and rendered elevations. The unit provides ground floor retail with ancillary accommodation at basement, first and second floor levels, to include storage, kitchen/staff room and toilet facilities. The ground floor sales area benefits from air conditioning.
Accommodation Description
Sqm
Sqft
Basement Ancillary
54.49
586.52
Ground Floor sales
68.38
736.03
First Floor Ancillary
46.87
504.53
Second Floor Ancillary
43.71
470.49
Third Floor Ancillary
34.21
368.22
247.66
2665.79
Total
EPC The EPC rating is band C. A copy can be made available on request.
For further information please contact: James Cuthbert 0161 956 4003 [email protected] Ian Whittaker 0161 956 4303 [email protected] Henry Prescot 0151 324 0457 [email protected]
08449 02 03 04 gva.co.uk/9100
Bilfinger GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.
