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  • NAVIGATION POINT MARINERS POINT THE MARINA HARTLEPOOL TS24 0UH

    UNIQUE LEISURE INVESTMENT OPPORTUNITY

  • NAVIGATION POINT MARINERS POINT THE MARINA HARTLEPOOL TS24 0UH

  • INVESTMENT CONSIDERATIONS • Freehold

    • Dominant and vibrant restaurant and bar location

    • The marina is one of the north east’s key tourist attractions

    • Let to established local operators

    • Nine lettings in the last 12 months

    • AWULT 7.15 years to expiry

    • Total passing rent of £593,316 per annum

    • 26 retail units (residential sold off on long leasehold)

    • The parade comprises an area of approximately 49,886 sq ft (4,634.6 sq m) and provides a range of unit sizes from 600 sq ft to 5,958 sq ft

    • Site area of 4.89 acres (1.97 hectares)

    • Large car parking provision of 350 spaces

    PROPOSAL Offers in the region of £4,730,000 (subject to contract and exclusive of VAT.)

    A purchase at this level reflects the following yield profile allowing for purchaser’s costs of 5.80%:

    11.85% net initial yield

    Car Park can be excluded by negotiation.

  • SITUATION

    The property occupies a prominent location on Mariners Point less than a mile from A689 which links directly to the A19 and A1(M) and provides access to the national transport network and beyond.

    The location is serviced by a number of out-of- town retail and leisure parks and supermarkets. Nearby occupiers include Next, Argos, Boots, B&M, Vue Cinema, Mecca Bingo, Premier Inn and Asda.

    NAVIGATION POINT MARINERS POINT THE MARINA HARTLEPOOL TS24 0UH

    Durham Tees Valley

    International Airport

    Newcastle

    A66

    A19

    A66

    A67

    A68

    A68

    A68

    A69A69

    A66

    A66

    A19

    A19

    A19

    A6072

    A1150

    A1053

    A688

    A167

    A167

    A691

    A693

    A694

    A184

    A692

    A696

    A690

    A1231

    A1018

    A689 A177 A689

    A179

    A171

    A172

    A174

    A1

    A1

    A1(M)

    A1(M)

    NEWCASTLE UPON TYNE

    MIDDLESBROUGH

    DARLINGTON

    HARTLEPOOL

    SUNDERLAND

    South Shields

    Tynemouth

    Washington

    Billingham Redcar

    Brotton

    Gateshead

    Durham

    Jarrow

    Hartlepool

    Queen StMiddlet on Road

    Greenland Road

    M ariners P

    oint

    Harbour Walk

    Ferry Road

    Sl ak

    e Te

    rra ce

    C larence R

    o ad

    Lancaster R oad

    Victoria Road

    Maritime Avenue

    M aritim

    e A venue

    Lynn S treet

    Lynn Stre

    et

    W hitby S

    treet

    Sur tees

    Str eet

    The Highlight

    The Lanyard Flee

    t Av enu

    e

    Sw ainson St

    Raby Road

    Museum Rd

    Broughham Terrace

    T ow

    er S treet

    B13 76

    Mid dlet

    on R oad

    A178 M ainsforth Terrace

    A17 8 C

    hurc h St

    reet

    A179 A

    1 7 9

    M arina W

    ay

    A 17

    9 S

    to ck

    to n

    St re

    et

    THE PROPERTY

    LOCATION

    Hartlepool is a popular residential and commercial centre situated on the north east coast located 12 miles (19 km) north of Middlesbrough and 26 miles (41 km) south of Newcastle Upon Tyne. The town benefits from good road connections north and south via the A19 and A1 motorways. The town’s railway station provides direct services to London Kings Cross and Newcastle.

    Hartlepool has a resident population of 86,000 and a catchment within 12 miles (20 km) of the town centre of 637,000. The town is known for its port facilities and major tourist attractions including the Maritime experience, HMS Trincomalee, Art gallery and Marina.

    TRAIN TRAVEL TIME

    NEWCASTLE 49 minutes

    EDINBURGH 2 hours 54 minutes

    LONDON KINGS CROSS 3 hours 8 minutes

    KEY ROADS DISTANCE BY CAR

    A689 0.8 miles

    A19 7.4 miles

    A1 44 miles

    KEY TOWNS DISTANCE

    DURHAM 18 miles

    NEWCASTLE 32 miles

    DARLINGTON 25 miles

  • DESCRIPTION

    The property was developed in 2000 and comprises a modern mixed use building of brick construction arranged over ground floor with residential to the upper floors.

    Units A3/A2/A1 have been recently refurbished and divided into three smaller units with the largest unit let to Thai Village and the others recently let.

    The property is located overlooking Hartlepool Marina which provides a mixture of retail, commercial and residential accommodation. Navigation Point provides the highest concentration of restaurants in Hartlepool offering high quality cuisine from around the world.

    ACCOMMODATION

    The property provides 26 retail units and 350 car parking spaces totalling 49,886 sq ft (4,634.6 sq m) with a range of unit sizes from 600 sq ft to 5,958 sq ft.

    Please refer to the tenancy schedule for a breakdown of the individual unit sizes.

    TH E

    RO O

    M

    TH E

    CA PT

    AI NS

    G

    AL LE

    Y

    TH AI

    V IL

    LA G

    E

    HO W

    D O

    YO

    U DO

    TH E

    RO O

    M

    TH E

    CA PT

    AI NS

    G

    AL LE

    Y

    TH AI

    V IL

    LA G

    E

    HO W

    D O

    YO

    U DO

    Mud

    Sand and Shingle

    Me an

    Hi gh

    W ate

    r

    West Harbour

    4.0m

    Cn Mooring Posts

    Cn

    MIDDLETON R OAD

    Boat Yard

    Car Park

    Car Park

    Boulders

    54 to

    81

    Na vig

    at io

    n Po

    in t

    29 to

    53

    Abdeil House

    52 t o 61

    1 to

    28

    Middleton House

    0m 10m 20m 30m

    Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1512

    Excluded from Sale

    NAVIGATION POINT MARINERS POINT THE MARINA HARTLEPOOL TS24 0UH

    Outlines for indicative

    purposes only.

  • TENANCY SCHEDULE

    Unit Tenant Description Size sq ft (sq m)

    Lease start Lease end (Next break)

    Next review Current rent (psf)

    ERV Comment

    A1 Helen Riley Café 1,115 (103.6)

    01/05/2015 30/04/2025 01/05/2020 £16,000 (£15.00)

    £16,800 Stepped rent Year 1 £8,400, years 2-5 £16,800. Rent review to market rent in year 5. t/a The Captains Galley. Vendor to ‘top up’ to £16,800.

    A2 Opulance Ltd (S Kelly guarantor) How Do You Do 1,720 (159.8)

    01/03/2015 28/02/2025 £15,000 (£8.72)

    £24,000 Stepped rent, 01/03/2015- 29/02/2016 £10,000, 01/03/16 -28/02/2018 £15,000 and £24,000 thereafter. t/a Cafe, cocktail and wine bar. Vendor to ‘top up’ to £15,000.

    A3 Monzur Azad Thai Village 1,900 (176.5)

    01/11/2014 31/10/2029 01/11/2019 £20,000 (£10.53)

    £26,000 Stepped rent from 01/11/2014 to 31/10/15 of £13,000, 1/11/2015 to 31/10/2016 of £20,0000, from 1/11/2016 to 31/10/2017 of £22,000, from 1/11/2017 to 31/10/2018 of £26,000, from 1/11/2018 to 31/10/2019 of £26,000. Vendor to ‘top up’ to £20,000 p.a.

    1 Joanne Burnside and Jason Unwin Happy Daze 900 (83.6)

    04/05/2009 03/05/2019 £12,000 (£13.33)

    £12,000 t/a American style ice cream parlour.

    1a store Joanne Burnside and Jason Unwin Happy Daze 150 (13.9)

    04/08/2011 03/05/2019 £2,400 (£16.00)

    £2,400

    2 Claire Elwood Beauty & Spa 1,000 (92.9)

    15/06/2015 30/06/2020 £12,000 (£12.00)

    £12,000 Stepped rent from 01/07/2015 to 30/06/2016 £6,000, from 01/07/2016 to 30/06/2020 £12,000. t/a The Room. Vendor to ‘top up’ to £12,000.

    3 Callum Hassan & Habeeb Alli-Owe Killimanjaro 1,450 (134.7)

    01/06/2014 31/05/2024 (31/05/2019)

    £17,500 (£12.00)

    £20,000 t/a African & Carribean restaurant. Vendor to ‘top up’ to £17,500. Stepped rent from 1/06/2015 to 31/05/2016 of £17,500, from 1/06/2016 to 31/05/2017 of £20,000.

    4 Singh, Tuli, and Dhubwarr Kings Bar 1,500 (139.3)

    01/04/2012 31/03/2027 (31/03/2017)

    01/04/2015 £18,000 (£12.00)

    £18,000 t/a Bar & restaurant

    5 Café Rappor Bar Limited Café Rappor 1,000 (92.9)

    06/11/2003 31/08/2027 (01/09/2022)

    01/09/2017 £11,250 (£11.25)

    £11,250 t/a Bistro & Cáfe. Recent lease extension.

    6 Café Rappor Bar Limited Café Rappor 1,000 (92.9)

    01/09/2012 31/08/2027 (01/09/2022)

    01/09/2017 £13,000 (£13.00)

    £13,000

    7 Andrew Bianco and Neil Bianco Bianco’s 1,000 (92.9)

    09/02/2010 08/02/2016 (09/02/2013)

    £15,000 (£15.00)

    £15,000 t/a Deli cáfe

    8 Andrew Haygarth and G & H Trading Company Limited

    Rosie O'Gradys 2,416

    (199.4)

    01/04/2013 20/02/2022 21/02/2016 £12,325 £12,325 t/a Irish bar

    9 Andrew Haygarth and Lee Haygarth and G & H Trading Company Limited

    Rosie O'Gradys 21/02/2007 20/02/2022 21/02/2016 £15,000 £15,000

    10-12 Mane Leisure Limited Black Olive 3,100 (288.0)

    01/08/2008 31/07/2023 01/08/2018 £45,000 (£14.52)

    £45,000 t/a Cocktail and wine bar

    12a J Wallis Leisure Ltd (J Wallis guarantor