wilko & argos market drayton, tf9 3bu - GCW
WILKO & ARGOS MARKET DRAYTON, TF9 3BU
HIGH YIELDING, WELL LET AND CONFIGURED RETAIL UNITS IN PROMINENT LOCATION
Peebles Biggar
Melrose
Coldstream Belford
Kelso
ck
KEY INVESTMENT CRITERIA
Moffat
Historic and affluent market town in Shropshire Morpeth Otterburn
Kielder
Blyth
Modern, well configured retail accommodation Lockerbie
fries
Woolsington Newcastle International Airport
Gretna
Prudhoe
Haltwhistle
Prominently located adjacent toSunderland town’s Newcastle-upon-Tyne Brampton Wetheral principal car park Allonby Annan
Wigton
Maryport
ngton
aven Bees
eascale
avenglass
Durham
Peterlee
Bishop A1M Hartlepool Let to 5A 1 D&B rated covenants Argos Ltd Auckland and WilkoPenrith Retail Ltd Keswick Durham Tees Valley Airport
A66
WAULT of 7.8 years Coniston
Middlesbrough
Darlington Richmond
Windermere
Freehold
A19
Whitby
Scarborough Pickering
Ripon
Filey
Seeking offers in excess of £3,320,000 (Three Lancaster Million, Three Hundred and Twenty Harrogate York Thousand Pounds), subject to contract and exclusive of VAT, reflecting anLeeds attractive netBeverley Blackburn initial yield of 9.75%, after allowing for Preston purchaser’s costsRochdale of 6.46%. Goole M65
M6
M621
A1 (M1)
Scunthorpe
Doncaster
Bury M1
M18
M60
M62
Stockport
Louth
Liverpool
M1
Macclesfield
Retford
Chesterfield
M6
Market Drayton is a historic and attractive market town Sutton-on-Sea in North Shropshire situated on the A53, 22 miles (35km) Lincoln north east of Shrewsbury, 16 miles (26km) west of StokeIngoldmells Skegness on-Trent and 47 miles (76km) north west of Birmingham. A15
Whitchurch
Wells next the Sea
Coningsby
Stoke-on-Trent Derby
Nottingham Nottinham
Market Drayton
M1
The town is well connected to the nationalSheringham motorway Holt Cromer network being 13 miles Hunstanton (21km) west of the M6 and 20 Fakenham Long N. Walsham miles (32km)Sutton to the north of the M54.Aylsham
Spalding
King's Lynn
Shrewsbury Telford
TOLL
M54
M42
Wolverhampton
E. Dereham Manchester International Airport is situated 32 miles Swaffham Norwich (51km) north east of Market Drayton.
Kidderminster
Wymondham
Peterborough Downham Market
Brandon
M5
own Llandrindod Wells
Leicester
Birmingham
Birmingham
M42
Kettering
Ely
Mildenhall
Northampton Coventry
Attleborough Thetford
Cambridge
Bury St
Diss
Bungay
Market Drayton is the third largest town in Shropshire. It is geographically removed from competing retail centres resulting in a loyal catchment and an enhanced level of retail spend. This catchment comprises of an affluent population and within a 15 minute drive time 22% of the population are of the social grade AB, 10% above the national average (Experian).
Hemsby Great Yarmouth
Norwich
East Midlands
M6 M6
Welshpool
CATCHMENT
Mablethorpe
A46
Sheffield
Manchester
M56
Chester
LOCATION
Grimsby
Manchester
Liverpool
Humberside
Beccles
Additionally, the town is identified by Shropshire Council as a principal centre for development, with 650 homes Lowestoft Kessingland planned to be built by 2026 in three proposed development Southwold sites around the town (Shropshire Council).
Halesworth Leiston
SITUATION The subject property is positioned on Frogmore Road, the town’s inner ring road adjacent to the town’s principal car park (60 spaces). The subject property is located in the heart of the town centre where other multiples represented include Boots, Iceland, B&M Bargains, Sports Direct and Peacocks. Asda and Lidl are also located in the town centre. Shopper numbers are further boosted with the twice weekly market in the town centre.
DESCRIPTION & ACCOMMODATION The property comprises two large, well configured retail units constructed over ground and first floors. The modern retail accommodation is built from metal frame construction with full height glazed frontages at ground floor level. Both units are serviced from Frogmore Road via two dedicated service entrances. The subject property has been measured in accordance with RICS guidelines and has the following gross internal areas:
Unit A, Frogmore Road (Argos) Floor
Use
Sq ft
Sq m
Ground
Sales
5,076
471.6
First
Ancillary
9,607
892.5
14,683
1364.1
Sq ft
Sq m
Total
Unit B, Frogmore Road (Wilko) Floor Ground 50 metres
pyright and confidentiality Experian, 2017. © Crown copyright and database hts 2017. OS 100019885
First
Use
17,775 1651.4 SalesGoad Plan Created: 03/03/2017 Experian Created8,508 By: GCW 790.4 Ancillary
For more information on our products and services: Total 26,283 www.experian.co.uk/goad | [email protected] | 0845 601 60112441.8
TENANCIES
COVENANT
Unit A is let to Argos Ltd for a term of 15 years commencing on 16th June 2006 and expiring on 15th June 2021. The current rent is £100,000 per annum.
Argos Ltd (01081551) is one of the UK’s leading high street brands with 738 stores throughout the UK. Argos is the flagship brand of Home Retail Group who were purchased by J Sainsbury PLC in September 2016, creating one of the UK’s largest food and non-food retailers. Argos Ltd has a D&B rating of 5A 1.
Wilko Retail Ltd (00365335) is an established British discount retailer store operating from over 400 stores nationwide, with plans for a further 100 stores over the next 5 years. Wilko Retail Ltd has a D&B rating of 5A 1.
27/02/2016 (£000’s)
28/02/2015 (£000’s)
01/03/2014 (£000’s)
30/05/2016 (£000’s)
31/05/2015 (£000’s)
01/06/2014 (£000’s)
3,930,104
3,919,176
3,872,446
1,464,475
1,444,563
1,462,843
Unit B is let to Wilko Retail Ltd (previously known as Wilkinson Hardware Stores Ltd up to June 2014) for a term of 20 years commencing 16th June 2006 and expiring on 15th June 2026. The current rent is £244,522 per annum which is subject to a rent review on 16th June 2021.
Turnover Profit/Loss Before Tax
The total current rent is therefore £344,522 per annum.
Tangible Net Worth
-180,769
97,146
43,992
648,286
1,202,554
1,172,054
Turnover Profit/Loss Before Tax Tangible Net Worth
25,955
5,496
27,612
182,398
160,898
248,295
TENURE
VAT
PROPOSAL
Freehold.
The property is elected for VAT. It is anticipated that any sale is treated as a transfer of a going concern.
Seeking offers in excess of £3,320,000 (Three Million, Three Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 9.75%, after allowing for purchaser’s costs of 6.46%.
EPC A full copy of EPC’s are available upon request.
FURTHER INFORMATION For further information please contact:
Fiona Nichols
Alex Matthews
James Mead
Joe Baio
T: 020 7647 4809 M: 07817 676 763 [email protected]
T: 020 7647 4827 M: 07776 209571 [email protected]
T: 020 7182 7481 M: 07776 209 571 [email protected]
T: 020 7182 7489 M: 07515 889 649 [email protected]
Disclaimer - Whilst every effort has been made to ensure accuracy, no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No responsibility or warranty whatever is made or given either during negotiations or in particulars by vendor, lessor or the agent. Gooch Cunliffe Whale LLP. Registered in England No. OC376010. Registered office: 30 City Road, London EC1Y 2AB. GCW: March 2017. © Produced by Barbican Studio T: 020 7634 9573
HIGH YIELDING, WELL LET AND CONFIGURED RETAIL UNITS IN PROMINENT LOCATION
Peebles Biggar
Melrose
Coldstream Belford
Kelso
ck
KEY INVESTMENT CRITERIA
Moffat
Historic and affluent market town in Shropshire Morpeth Otterburn
Kielder
Blyth
Modern, well configured retail accommodation Lockerbie
fries
Woolsington Newcastle International Airport
Gretna
Prudhoe
Haltwhistle
Prominently located adjacent toSunderland town’s Newcastle-upon-Tyne Brampton Wetheral principal car park Allonby Annan
Wigton
Maryport
ngton
aven Bees
eascale
avenglass
Durham
Peterlee
Bishop A1M Hartlepool Let to 5A 1 D&B rated covenants Argos Ltd Auckland and WilkoPenrith Retail Ltd Keswick Durham Tees Valley Airport
A66
WAULT of 7.8 years Coniston
Middlesbrough
Darlington Richmond
Windermere
Freehold
A19
Whitby
Scarborough Pickering
Ripon
Filey
Seeking offers in excess of £3,320,000 (Three Lancaster Million, Three Hundred and Twenty Harrogate York Thousand Pounds), subject to contract and exclusive of VAT, reflecting anLeeds attractive netBeverley Blackburn initial yield of 9.75%, after allowing for Preston purchaser’s costsRochdale of 6.46%. Goole M65
M6
M621
A1 (M1)
Scunthorpe
Doncaster
Bury M1
M18
M60
M62
Stockport
Louth
Liverpool
M1
Macclesfield
Retford
Chesterfield
M6
Market Drayton is a historic and attractive market town Sutton-on-Sea in North Shropshire situated on the A53, 22 miles (35km) Lincoln north east of Shrewsbury, 16 miles (26km) west of StokeIngoldmells Skegness on-Trent and 47 miles (76km) north west of Birmingham. A15
Whitchurch
Wells next the Sea
Coningsby
Stoke-on-Trent Derby
Nottingham Nottinham
Market Drayton
M1
The town is well connected to the nationalSheringham motorway Holt Cromer network being 13 miles Hunstanton (21km) west of the M6 and 20 Fakenham Long N. Walsham miles (32km)Sutton to the north of the M54.Aylsham
Spalding
King's Lynn
Shrewsbury Telford
TOLL
M54
M42
Wolverhampton
E. Dereham Manchester International Airport is situated 32 miles Swaffham Norwich (51km) north east of Market Drayton.
Kidderminster
Wymondham
Peterborough Downham Market
Brandon
M5
own Llandrindod Wells
Leicester
Birmingham
Birmingham
M42
Kettering
Ely
Mildenhall
Northampton Coventry
Attleborough Thetford
Cambridge
Bury St
Diss
Bungay
Market Drayton is the third largest town in Shropshire. It is geographically removed from competing retail centres resulting in a loyal catchment and an enhanced level of retail spend. This catchment comprises of an affluent population and within a 15 minute drive time 22% of the population are of the social grade AB, 10% above the national average (Experian).
Hemsby Great Yarmouth
Norwich
East Midlands
M6 M6
Welshpool
CATCHMENT
Mablethorpe
A46
Sheffield
Manchester
M56
Chester
LOCATION
Grimsby
Manchester
Liverpool
Humberside
Beccles
Additionally, the town is identified by Shropshire Council as a principal centre for development, with 650 homes Lowestoft Kessingland planned to be built by 2026 in three proposed development Southwold sites around the town (Shropshire Council).
Halesworth Leiston
SITUATION The subject property is positioned on Frogmore Road, the town’s inner ring road adjacent to the town’s principal car park (60 spaces). The subject property is located in the heart of the town centre where other multiples represented include Boots, Iceland, B&M Bargains, Sports Direct and Peacocks. Asda and Lidl are also located in the town centre. Shopper numbers are further boosted with the twice weekly market in the town centre.
DESCRIPTION & ACCOMMODATION The property comprises two large, well configured retail units constructed over ground and first floors. The modern retail accommodation is built from metal frame construction with full height glazed frontages at ground floor level. Both units are serviced from Frogmore Road via two dedicated service entrances. The subject property has been measured in accordance with RICS guidelines and has the following gross internal areas:
Unit A, Frogmore Road (Argos) Floor
Use
Sq ft
Sq m
Ground
Sales
5,076
471.6
First
Ancillary
9,607
892.5
14,683
1364.1
Sq ft
Sq m
Total
Unit B, Frogmore Road (Wilko) Floor Ground 50 metres
pyright and confidentiality Experian, 2017. © Crown copyright and database hts 2017. OS 100019885
First
Use
17,775 1651.4 SalesGoad Plan Created: 03/03/2017 Experian Created8,508 By: GCW 790.4 Ancillary
For more information on our products and services: Total 26,283 www.experian.co.uk/goad | [email protected] | 0845 601 60112441.8
TENANCIES
COVENANT
Unit A is let to Argos Ltd for a term of 15 years commencing on 16th June 2006 and expiring on 15th June 2021. The current rent is £100,000 per annum.
Argos Ltd (01081551) is one of the UK’s leading high street brands with 738 stores throughout the UK. Argos is the flagship brand of Home Retail Group who were purchased by J Sainsbury PLC in September 2016, creating one of the UK’s largest food and non-food retailers. Argos Ltd has a D&B rating of 5A 1.
Wilko Retail Ltd (00365335) is an established British discount retailer store operating from over 400 stores nationwide, with plans for a further 100 stores over the next 5 years. Wilko Retail Ltd has a D&B rating of 5A 1.
27/02/2016 (£000’s)
28/02/2015 (£000’s)
01/03/2014 (£000’s)
30/05/2016 (£000’s)
31/05/2015 (£000’s)
01/06/2014 (£000’s)
3,930,104
3,919,176
3,872,446
1,464,475
1,444,563
1,462,843
Unit B is let to Wilko Retail Ltd (previously known as Wilkinson Hardware Stores Ltd up to June 2014) for a term of 20 years commencing 16th June 2006 and expiring on 15th June 2026. The current rent is £244,522 per annum which is subject to a rent review on 16th June 2021.
Turnover Profit/Loss Before Tax
The total current rent is therefore £344,522 per annum.
Tangible Net Worth
-180,769
97,146
43,992
648,286
1,202,554
1,172,054
Turnover Profit/Loss Before Tax Tangible Net Worth
25,955
5,496
27,612
182,398
160,898
248,295
TENURE
VAT
PROPOSAL
Freehold.
The property is elected for VAT. It is anticipated that any sale is treated as a transfer of a going concern.
Seeking offers in excess of £3,320,000 (Three Million, Three Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 9.75%, after allowing for purchaser’s costs of 6.46%.
EPC A full copy of EPC’s are available upon request.
FURTHER INFORMATION For further information please contact:
Fiona Nichols
Alex Matthews
James Mead
Joe Baio
T: 020 7647 4809 M: 07817 676 763 [email protected]
T: 020 7647 4827 M: 07776 209571 [email protected]
T: 020 7182 7481 M: 07776 209 571 [email protected]
T: 020 7182 7489 M: 07515 889 649 [email protected]
Disclaimer - Whilst every effort has been made to ensure accuracy, no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No responsibility or warranty whatever is made or given either during negotiations or in particulars by vendor, lessor or the agent. Gooch Cunliffe Whale LLP. Registered in England No. OC376010. Registered office: 30 City Road, London EC1Y 2AB. GCW: March 2017. © Produced by Barbican Studio T: 020 7634 9573
