sign in sign up
<<
Home , Birkenhead, Bootle, Heswall, Huyton, Merseyside, Merseyside (West)

WELL SECURED RETAIL WAREHOUSE INVESTMENT WITH DEVELOPMENT OPPORTUNITIES

THE RANGE, CHALON WAY, ST HELENS, WA10 1BF INVESTMENT SUMMARY

• Retail Warehouse trading as The Range situated within St Helens on a highly prominent site fronting the A58 and within walking distance of the town centre

• In total provides 66,549 sq ft on a site of 6.34 acres

• Let to The Range at a rent of £521,126 pa. which has a guaranteed fixed uplift to £575,365 pa in August 2022.

• Low rent equating to £8.43/sq ft

• Longer term redevelopment potential for the whole together with shorter term infill opportunities.

• We are instructed to seek offers in excess of £7,515,000 (Seven Million Five Hundred And Fifteen Thousand Pounds) which reflects an attractive net initial yield of 6.5% net of costs at 6.66%, subject to contract and exclusive of VAT.

• The yield will rise to 7.18% in August 2022, through the fixed rental uplift in the lease to The Range.

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF A59 Harrogate

A61

A658 A65

A660 A61 14 A650 Bradford A58 44 SAT NAV: A658 Airport WA10 1BF 13 Shipley A6120 A587 A580 J23 A64 45 LOCATION A580 A59 12 A580 d A580 a A583 M55 32 o A671 Leeds 3 R A5701 rk Bradford 47 4 a 11 M6 Knowsley P St Helens is located in Merseyside, forming J4 A59 10 46 Business M6 9 A6 M65 8 A610 part of the wider city region. A583 A666 45 ST HELENS A63 A1(M) KNOWSLEY Preston 31 The town lies approximately 24 miles West of THE PROPERTY St Helens Central 7 Newton-Le-Willows A603 M621 44 A584 A58 6 Newton-Le-Willows , 14 miles East of Liverpool and 10 M57 A58 Earlstown A646 M606 miles North West of . 30 26 Blackburn 28 A58 29 5 A646 30 A59 29 J22 Halifax d 29 3 4 32a St Helens is strategically located adjacent to a 1 y 31 o A582 a M62 32 Knowsley Safari w R Rawtenstall M1 the national motorway network. The M62 elens k t H n M65 St Helens Junction 33 S Leyland 28 i 25

L

(Junction 7), the A580 dual carriageway and A681 Eccleston Park s Wakefield

n A56 A49 A644

e the M57 (Junction 2), all provide links to J2 l 8 e Burtonwood 24 A H 5 Manchester, Liverpool, Warrington and the 7 t 23 W S ad Prescot a J9 Live o rri North West region. There is a bus service rp ool R ng A628 ton CHORLEY A1 Ro A666 A58 which connects St Helens to , Liverpool ad 1 HuddersfieldA576 A642 and Warrington, the closest bus stop is a 2 Whiston M6 M62 M62 Bowring Park A49 A629 minute walk from the park. Huyton M66 ROCHDALE 38 J4 BURY Gullivers World 21 27 M61 2 Theme Park BOLTON 20 Chalon Way is located just 0.5 miles West of J7 A58 7 W 3 M1 38 J6/1 A5 a6r 19 St Helens Railway Station. Providing local ring ton Road DELPH A1(M) connections to the North West via Northern 5 Barnsley 37 Rail, together with services to Euston 3 4 37 4 19 A635 5 26 3 17 20 OLDHAM via Wigan and Warrington within 2 hours 30 M58 16 1 21 Bolton upon WALKDEN 15 22 minutes. It also provides services to Liverpool 1 A695 Deane 14 25 SWINTON A627 and Manchester. 13 36 7 A616 36 A633 THE PROPERTY 12 24 A580 M602 2 A345 1 3 23 A628 6 Liverpool Airport is the nearest 11 A630 A580 23 M18 4 10 international airport, located approximately 15 35 24 3 M67 A629 miles from St Helens. , the M6 M62 M60 MANCHESTER 3 ST HELENS M60 largest international airport in the North West, 22 Rotherham A5058 11 7 Kingsway 102 A6 25 10 M1 34 is located approximately 30 miles east of St 21A 26 9 A34 27 A631 1 8 SALE 5 Helens town centre. LIVERPOOL 5 M62 6 7 STOCKPORT 1 21 A56 4 3 2 33 32 2 3 2 1 Tunnel WARRINGTON A5300 A557 ALTRINCHAM 32 BIRKENHEAD 4 A57 Sheffield A60 3 5 A41 31 A553 20 8 St Helens is A56 7 6 Norton Lees Mersey A34 Prestatyn Gateway 9 A57A57 A6 Llandudno 4 LIVERPOOL 10 MANCHESTER A6102 strategically JOHN LENNON AIRPORT Benlech AIRPORT 11 M6 A61 Hollyhead A55 M53 WILMSLOW Colwyn Bay 12 19 A523 located adjacent 5 6 A547 7 A533 Rhuddlan 8 A547 ELLESMERE M56 A623 30 to the national A55 Holywell A540 9 PORT A619 A537 Anglesey Beaumaris A55 A566 14 10 Llangefni motorway network. A49 A537 B5381 A548 Llanfairfechan St. Asaph A61 A548 A550 11 NORTHWICH A55 15 MACCLESFIELD A525 FLINT A5117 A6 M1 A60 A541 A548 A41 A473 Chesterfield Bangor A548 A566 A34 A617 12 A54 A533 Denbigh 18 A487 A544 A54 A513 A5 A49 THE RANGE, CHALON WAY, ST HELENS, A523 A53 A55 Congleton MERSEYSIDE WA10 1BF A494 Llanrwst A41 17 Ruthin A470 A50 A51 A34 A530 A5 A534

A527

A470 A534 A534 A53 A5 A494 16 Nantwich A500 A500 A41 A49 A520 A34 A5 A51 Stoke

Corwen A5 On-trent Llangollen A525

15 A50 A51 A34 A520 A53

A519 Stone

A5013 A51 A518 A34 A41 A519 14 Stafford A518 B5405 SITUATION CATCHMENT & DEMOGRAPHICS The property is prominently situated fronting Chalon Way at its junction with Linkway West (A58) which is the main ring road around the town centre, but also within a 5 minute walk of the town centre, and the main retailing provisions. • The total population within St Helen’s primary retail market is estimated at 157,000 at the end Nearby occupiers include a Mercure Hotel a Multi-Storey car park, Cineworld and Pizza of 2017. Hut. The town’s two main shopping centres, the Hardshaw Centre (115,000 sq ft) and the Square Shopping Centre (237,000 sq ft) are both within a short walk. Tenants in these • The nearest main competing towns to St Helens shopping centres include; Argos, Poundland, Marks and Spencer, B&M and Boots. are Widnes (8 miles) and Warrington (10 miles)

• The town has significantly above average proportion of adults of working age and average The town’s two main shopping levels of car ownership compared to other UK locations. centres are both within a short walk. • St Helens has an estimated shopping population of 102,000 with a wider retail catchment of 219,000.

PIZZAHUT

CINEWORLD A58 LINKWAY WILKO

CHURCH SQUARE THE HARDSHAW CENTRE SHOPPING CENTRE

The total population within St Helens primary retail market is estimated at 157,000 at the end of 2017.

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF DESCRIPTION

The Range is a former supermarket being of brick construction under a metal pitched roof accessed via a double glazed aluminium framed entrance atrium developed in the early 1980’s

Internally it provides open plan retail space which the tenant has fitted out to its usual trading format. There is additional ancillary space together with a warehouse at the rear which is accessed off a separate service yard.

Extensive car parking for 400 vehicles is provided to the front of the building. This offers a very low parking ratio of 1 car space per 166 sq. ft. (55 spaces included in the McDonalds demise).

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF ACCOMMODATION TENANCY The property has been measured in accordance with the RICS Code of The property is Measuring Practice on a gross internal area basis (GIA) and provide the following approximate areas: The property is subject to two leases as highlighted below producing subject to two a current income of £521,126 pa which will have a guaranteed uplift to £575,365 pa in 2022. leases producing Unit Area (sq ft) Area (sq m) The Range 61,789 5740.40 Unit 1 a current income Let to CDS (Superstores International) Limited by way of a 15 year McDonalds 4,760 442.26 FRI lease from 7th August 2012 at a current rent of £521,126 pa. of £521,126 pa Total 66,549 6182.66 There is a fixed rental uplift on 7th August 2022 to £575,365 pa. The tenant trades as The Range. which will have a The site totals 6.34 acres ( 2.57 hectares) having a low site density of 25%. Unit 2 guaranteed uplift Let to McDonald’s Restaurants Limited by way of a 999 year FRI lease from 27th March 2019 as a peppercorn. to £575,365 pa in TENURE 2022. Freehold.

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF TENANT INFORMATION

CDS (Superstores International) Limited - T/a - The Range. Following the opening of their first store in 1989 Plymouth, The Range is now one of the fastest growing retailer in the UK. With over 150 stores nationwide, they stock more than 65,000 products across 16 different departments, from Homewares and Furniture to DIY and Art Supplies.

The company have a current D&B Rating of 5A1 representing minimum risk of business failure and an overview of their accounts are summarised below.

Year to date Turnover Pre Tax Profit Net Worth 29th January 2017 £761,287,000 £67,203,000 £144,727,000 29th January 2016 £674,203,000 £57,032,000 £190,245,000 29th January 2015 £565,064,000 £57,299,000 £166,972,000

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF OVERVIEW OF RETAIL WAREHOUSE OFFERING WITHIN ST HELENS

St Helens has a good retail warehouse offering with over 716,000 sq ft of floor space ranking it 61 of the PROMIS centres. The town has a number of solus units although 60% of the floor space is provided on the two parks, Retail Park and St Helen’s Retail Park which are both within 1 mile of the property.

Ravenhead Retail Park – circa 372,000 sq ft owned by Hammerson where rents range between £13.50 - £28.00 per sq ft. Tenants include B&Q, Next, Boots, DW Sports and Pets At Home.

St Helen’s Retail Park – circa 120,000 sq ft owned by UBS/Triton where rents range between £12.50 - £18.00 per sq ft. Tenants include Dunelm, B&M ,TK MAXX and Aldi.

THE RANGE, CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF THE RANGE AND MCDONALD’S DRIVE-THRU CHALON WAY, ST HELENS, MERSEYSIDE WA10 1BF

ENERGY PERFORMANCE CERTIFICATE

A set of EPC’s are available on request. The ratings are B44 for The Range and PROPOSAL B33 for McDonalds. We are instructed to seek offers in excess of £7,515,000 (Seven Million Five Hundred And Fifteen Thousand Pounds) which reflects an attractive net initial yield of6.5% net of costs PLANNING at 6.66%, subject to contract and exclusive of VAT.

The existing planning is to use The Range unit for the sale of A1 comparison goods and A3 and A5 for the McDonalds restaurant. The yield will rise to 7.18% in August 2022, through the fixed rental uplift in the lease to The Range. In January 2010 planning consent was granted for the redevelopment of the site for up to 25,850 sq m of comparison retail space. Further information can be provided to interested parties.

VAT

We are advised that the property is elected for VAT purposes and therefore the sale of the property will attract VAT. It is anticipated that the sale will be treated as a transfer of a going concern.

FURTHER INFORMATION

If you wish to view the property or require any further information please contact the individuals below. In addition further information can be found at www.avisonyoung.com/14614

David Winterbottom Adam Wildig 0161 956 4103 0161 956 4029 07836 225 552 07739 325 666 [email protected] [email protected]

Misrepresentation Act 1967. Unfair Contract Terms Act 1977 The Property Misdescriptions Act 1991. These particulars are issued without any responsibility on the part of the agent and are not to be construed as containing any representation or fact upon which any person is entitled to rely. Neither the agent nor any person in their employ has any authority to make or give any representation or warranty whatsoever in relation to the property. April 2019. RB&Co 0161 833 0555. www.richardbarber.co.uk