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

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TH AI

V IL

LA G

E

HO W

D O

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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

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Mud

Sand and Shingle

Me an

Hi gh

W ate

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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