PRIME RETAIL INVESTMENT - Emanuel Oliveremanueloliver.com/wp-content/uploads/2015/08/V3864-15...A644...
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PRIME RETAIL INVESTMENT Let to Caffé Nero ENTER
Transcript of PRIME RETAIL INVESTMENT - Emanuel Oliveremanueloliver.com/wp-content/uploads/2015/08/V3864-15...A644...
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PRIME RETAIL INVESTMENT Let to Caffé Nero
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
Summary
• LettothestrongcovenantofNeroHoldingsLimited• AttractiveGradeIIListedBuilding• PrimeProminentCornerintheCentreofHuddersfield• CurrentRentalIncome£65,000perannum• Seeking offers in excess of £820,000,anattractivenetinitialyield
of7.5%,assumingpurchaserscostsof5.8%.NoVATpayable.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
LocationHuddersfieldisamajorretailcentreinWestYorkshirelocatedapproximately34km(20miles)southwestofLeeds,26km(16miles)southwestofBradfordand47km(29miles)eastofManchester.Huddersfieldtowncentreislocated3km(2miles)southofjunction24oftheM62motorway,linkingtojunction39oftheM1some13.5km(8miles)totheeast.Huddersfieldisthe11thlargesttownintheUnitedKingdomwithapopulationof162,949(2011census)aboroughpopulationof425,500andaprimarycatchmentpopulationof309,000persons.The town benefits from direct rail links to Leeds, Sheffield, Manchester andLiverpool.ServicestoLondonKingsCross,haveajourneytimeofapproximately2hoursand50minutes.
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Warrington
Wigan
Chorley
LeylandDARWEN
Accrington
RAWTENSTALL
Burnley
BoltonRochdale
Middleton
HALIFAX
BlackburnPrestonLytham-st-ann's
Southport
Ormskirk
Skelmersdale
Blackpool
Manchester
Liverpool
Stoke on Trent
Ellesmere Port
Stockport
Oldham
Salford
Altrincham
Maccles�eldBuxton
BUXTON
HUDDERSFIELD
WAKEFIELDDEWSBURY
Leeds
BARNSLEY
Chester�eld
Shef�eld
Peak District
Congleton
Nantwich
Tiverton
Middlewich
Widnes
NorthwichNorthwich
KnutsfordKnutsford
Hollywell
Prestatyn
Rhyl
Rhuddlan
Denbigh
St. Asaph
Colwyn bay
Llandudno
RIVER MERSEY
LIVERPOOLJOHN LENNON
AIRPORT
MANCHESTERAIRPORT
Chester
St Helens
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A5103
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
SituationThe property is situated in a prime and extremely prominent position on thecornerofthepedestrianisedKingStreetandNewStreet,directlyoppositeHSBC,VisionExpressandMarks&Spencer.OthernearbyoccupiersincludeYorkshireBuildingSociety,BootstheChemistandCostaCoffee.Theprimeretailing inHuddersfield is focusedaroundtheKingsgateShoppingCentreandthepedestrianisedKingStreet.TheKingsgateCentrewhichprovidessome263,000sqftofretailspaceisanchoredbyHouseofFraser,TopShop,Next,H&M,NewLookandTKMaxx.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
DescriptionThe attractive four storey former bank is Grade II Listed and lies within aconservationarea.Thegroundfloorprovidesaregularshapedretailareawithastaircaseattherearleadingtoanadditionalsalesareaonfirstfloorwhichalsoincludescustomerwcfacilities.Thesecondfloorandbasementprovidestorage/staffareas.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
AccommodationThe property is arranged over basement, ground, first andsecondfloorshavingthefollowingapproximatefloorareas:-
Sq Ft Sq M
GroundFloorSales 805 74.79
Basement* 334 31.03
FirstFloor 857 79.62
SecondFloor** 885 82.22
Total 2,881 267.66
*Plusfurtherun-usedspace**Notinspected
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
TenancyThepropertyislettoNeroHoldingsLimitedforatermof15yearsfrom28thJanuary2005onfullrepairingandinsuringtermsatarentof£65,000perannum.
TenureWeunderstandthepropertyisheldbywayofaleasefromKirkleesCouncilfor999yearsfrom25March1911atanannualfixedrentof£13.43perannum.
CovenantCaffè Nero is a family owned business that has grown, since launch in 1997, to be Europe’s largestindependentcoffeehousegroup.NeroHoldingsLtdt/aCaffeNeronowhasover600storesworldwide.NeroHoldingsLtdhasanimpressiveDunandBradstreetratingof5A1withaminimumriskofbusinessfailure.Fortheyearending31May2014NeroHoldingsLtdreportedturnoverof£215.496M(2013-£197.539M),pre-taxprofitof£22.538M(2013-£20.011M),withnetassetsof£145.467M(2013-£122.929M).
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
VATNovatispayableonthepurchaseprice.
Rateable ValueThePropertyhasaRateableValueof£71,000.
EPCAnEPCreportisavailableonrequest.
ContactIf you require any further information or wish to arrange a viewing of the property,pleasecontact:
Llyr [email protected]
ProposalWeareinstructedtoseekoffersinexcessof£820,000(EightHundredandTwentyThousandPounds)subjecttocontractandexclusiveofVAT.ApurchaseatthislevelwillshowanattractiveNetInitialYieldof7.5%afterallowingforpurchaserscostsof5.8%.
MISREPRESENTATIONACT1967(Conditionsunderwhichparticularsareissued.)EmanuelOliverforthemselvesandthevendors/lessorsofthispropertywhoseAgentstheyaregivennotice that these particulars do not constitute any part of an offer or contract, that allstatementscontainedintheseparticularsastothispropertyaremadewithoutresponsibilityandarenottobereliedonasstatementsorrepresentativesoffactandthattheydonotmakeorgiveanyrepresentationorwarrantywhatsoeverinrelationtothisproperty.Anyintendingpurchaser/lesseesmustsatisfythemselvesbyinspectionorotherwiseastocorrectnessofeachofthestatementscontainedintheseparticulars.August2015.
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