SUPERMARKET INVESTMENT OPPORTUNITY

MORRISONS STATION ROAD, OSWESTRY SY11 1RA MORRISONS, STATION ROAD, OSWESTRY, SY11 1RA

INVESTMENT CONSIDERATIONS n Town centre supermarket totalling 2,643.8 sq m (28,455 sq ft) located n Rent increased in 2014 at open market rent review in the attractive and historic market town of Oswestry in Shropshire n Further upward only rent reviews in 2019 and 2024 n Let to the 5A1 covenant WM Morrison Supermarkets Plc until n Lack of competing foodstores within the town 2025 thus providing approximately 8.7 years unexpired n Offers are sought in excess of £5,650,000 (Five Million Six Hundred n Freehold and Fifty Thousand Pounds) subject to contract and exclusive of VAT. n Rent passing of £406,850 per annum A purchase at this level would reflect an attractive net initial yield of 6.75% after allowing for purchaser’s costs of 6.61%. Freehold mixed use parade comprising:

MORRISONS, STATION ROAD, OSWESTRY, SY11 1RA

DUNDEE ■ PERTH ■

ST ANDREWS ■

M80

FALKIRK EDINBURGH ■ M9 ■ M73 M8 GLASGOW

M77 ■ EAST KILBRIDE M74

NEWCASTLE UPON TYNE ■

■ ■ CARLISLE SUNDERLAND

A1(M) HARTLEPOOL ■ MIDDLESBROUGH MIDDLESBROUGH ■ ■

WHITBY ■

SCARBOROUGH ■

A59 A59

LANCASTER ■ A59 HARROGATE A1(M) YORK ■ ■

FLEETWOOD ■ BLACKPOOL BLACKBURN LEEDS ■ ■ ■ HULL BLACKPOOL ■ BRADFORD A63 M65 ■ ■ ■ ■ M62 PRESTON ■ BLACKBURN HALIFAX Llwyn Roa M66 ■ A15 Lloyd Street A1 yn Fields ROCHDALE ■ WAKEFIELD Ll w d ■ ■ SCUNTHORPE oad Gittin Stree ■ HUDDERSIELDBARNSLEY r R A570 ■ ae SOUTHPORT ■ DONCASTER C BOLTON Al WIGAN be t ■ ■ M180 GRIMSBY r M60 M18 t Ro d M58 ■ ■ a ad ne M1 A a s L h n ld Ro LIVERPOOL ■ BRIGG t a ■ A52 R e e o r Swa ST HELENS t ■ a Osw d S MANCHESTER A1(M) ■ ST HELENS rne Lo ■ Th o STOCKPORT York Street m a ■ s SHEFFIELD ■ S a v P t i ri e n M56 GAINSBOROUGH nc re R t o e S ad S e s c Location t ld ri r ie t CHESTERFIELD e lef a ■ et t e as B BANGOR BUXTON ■ LINCOLN C B4 ■ 5 8 ■ 0 Oak Street t The historic and attractive market town of Oswestry is the third largest town in A494 tree e S ■ stl Cas Ca tle S Orchard St treet d CHESTER a o

R w r Shropshire and is situated in close proximity to the Welsh and English boarder. NEWARK-ON-TRENT Vie ee e d stl t l CREWE M6 a a C C w ■ ■ h ap K s ■ NEWCASTLE-UNDER-LYME in O el g S tre t S BOSTON e e tr The town is located approximately 27 miles (43 km) south of Chester, 65 miles A5 ■ t e e WREXHAM r B4580 t e A t s S A38 l lb l ■ e STOKE-ON-TRENT a c e ri rt Place W t NOTTINGHAM a h e s A ■ DERBY l t B

e r P e d (105 km) north west of Birmingham and 65 miles (105 km) south west of Manchester. ■ d W

a a a A5 A52 W m ■ r Stre ll k r Ro il fo A494 hu l r A t an d R oad M1 v Ar C e ourt n d dgeman A46 u A1 oa ri STAFFORD e R B ld en Pow wa Gre L s y The town benefits from excellent road communications being served by the A483, e O n e A ■ o is

g C r A d S B Avenu m m OSWESTRY t r i r b o l St e l w l o a

e ■ e e N t k n

t s

t A47 e h e L S i e d o

e s a A495 and A5 which provide a direct link to the M54 Motorway approximately 28 miles

s r u B KING’S LYNN e n A5 s t s llan Clo e i e 4 o R m M54 M6 Toll r S rd 5 R A C o d B450 8 e 0 t a ■ d a TOWN G SHREWSBURY WALSALL LEICESTER k GREAT YARMOUTH (45 km) to the south east. Gobowen train station is situated 3 miles (5 km) to the north ■ c a NORWICH ■ ■ ■ ■ l Brookh CAE GLAS B TELFORD M42 B A458 PARK 4 5 CENTRE d Beech G a 7 o Ro ls 9 u on A483 al se et offering direct routes to Birmingham (1 hour 25 minutes), Chester (36 minutes) and WOLVERHAMPTON l W dd h R i ■ s M ■ li LOWESTOFTd ng r We E ■ o WELSHPOOL v M6 l e sh Wall Shrewsbury (22 minutes). M5 BIRMINGHAM s A1(M) ■ A14 ■ CAR A11 Road ■ KETTERING PARK dleton COVENTRY RUGBY ■ Mid Birmingham Airport is approximately 68 miles (109 km) to the south east, SOLIHULL ■ A43 HUNTINGDON A489 A5 M42 ■ WELLINGBOROUGH BURY ■ ■ ST EDMUNDS A428 CAMBRIDGE ■ A483 REDDITCH M40 NORTHAMPTON ■ ■ ■ ■ ROYAL NEWMARKET WORCESTER LEAMINGTON SPA urch Street ■ h A1 C A11 B4579 ■ IPSWICH Pl t as Stree ■ rook BEDFORD F B fyn per Up Low HEREFORD er B n r on ook ■ Stre ■ et Wa t e FELIXSTOWE

y MILTON M1 e ■ A483 M11 ■ KEYNES rch Str

u h A1(M) HARWICH ■ Vi BRAINTREE CHELTENHAM LUTON er C ct p or ■ ■ p ia LEIGHTON ■ R U o BUZZARD ad ■ CLACTON-ON-SEA GLOUCESTER AYLESBURY WELWYN ■ OXFORD ■ ■ GARDEN CITY M5 ■ HEMEL CHELMSFORD HEMPSTEAD ■ M25 ■ CIRENCESTER ■ M40 HIGH ■ WYCOMBE ■ SWANSEA M25 SWINDON ROMFORD ■ ■ MAIDENHEAD ■ SOUTHEND-ON-SEA CARDIFF ■ ■ ■ NEWPORT READING LONDON ■

■ ■ ■ BRACKNELL MARGATE BARRY BRISTOL CHIPPENHAM ■ DARTFORD GILLINGHAM ■ ■ ■ ■ WESTON ■ ■ CROYDON SUPER-MARE BATH NEWBURY WOKINGHAM ■ ■ WOKING CANTERBURY ■ ■ ■ SANDWICH ■ ■ FARNBOROUGH ■ SEVENOAKS MAIDSTONE ILFRACOMBE ■ ■ ANDOVER TUNBRIDGE ■ GUILDFORD ■ ■ BRIDGWATER ■ DOVER BARNSTABLE ■ ■ ROYAL ■ ■ SAILSBURY CRAWLEY TUNBRIDGE WELLS FOLKESTONE WESTWARD HO! ■ ■ ■ HAYWARDS BIDEFORD HEATH ■

TIVERTON ■ HASSOCKS ■ ■ LEWES SOUTHAMPTON ■ ■ CHICHESTER BRIGHTON HASTINGS ■ ■■ ■ LITTLEHAMPTON ■ HOVE PORTSMOUTH ■ EXETER ■ POOLE TINTAGEL ■ ■ EASTBOURNE ■ ■ LYME REGIS BOURNEMOUTH

■ EXMOUTH

BODMIN ■ NEWQUAY ■ ■ ■ TORQUAY PLYMOUTH ■ TRURO DARTMOUTH ■ ST. IVES ■

■ ■ FALMOUTH PENZANCE Morrison, Station Road, Oswestry, SY11 1RA

MORRISONS, STATION ROAD, OSWESTRY, SY11 1RA

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C 4 a 5 xt 0m 10m 20m 30m on P la ce Ordnance© Crown Survey © Copyright, Crown Copyright 2016.ES 100004106. All rights reserved. Licen Force identification number 100022432. Plotted purposes Scale - 1:1250 only.

Situation Description Retailing in Oswestry The property is well located being less than 500 metres from Oswestry town The property comprises a stand alone supermarket of brick construction Oswestry is the third largest retailing centre in Shropshire and serves centre at the junction of Station Road, Beatrice Street and Oswald Road, totalling 2,643.8 sq m (28,455 sq ft), providing a retailing area and as an important shopping destination for the extensive geographic with the property’s primary access coming from the north side of Oswald warehouse storage at ground floor and staff facilities on a mezzanine area of north west Shropshire and mid Wales. The main retail pitch Road. The immediate surrounding area is a mix of commercial and residential floor. The property benefits from a roller shutter door providing access in Oswestry is located on the pedestrianised Bailey Street where use with the property situated directly opposite an Aldi supermarket. to the service yard which is accessed off Oswald Road. occupiers include Thomson Travel, Specsavers, Halifax, Toni & Guy, The Carphone Warehouse and EE. Description Area sq m Area sq ft

GF retail area 1,497.9 16,123 Demographics Oswestry has a district population of approximately 37,000 rising GF storage/Ancillary 644.5 6,936 to over 130,000 within 12.5 miles of the town centre. The town is FF storage/Ancillary 501.4 5,396 forecasted to experience the highest level of growth out of all the Shropshire districts with the population increasing 33.9% by 2031 Total 2,643.8 28,455 compared to 2006 levels reaching a total of 53,200 inhabitants (Shropshire Council Website). As a county Shropshire has an above average home ownership percentage compared to the rest of England. Site Area The property occupies a site area of 0.78 Acres (0.32 Hectares). MORRISONS, STATION ROAD, OSWESTRY, SY11 1RA

Tenancy Covenant WM Morrison Supermarkets Plc reported the following results across the last three years: The entire property is let to WM Morrison Supermarkets Founded in 1899 Morrisons is the fourth largest chain PLC for a term of 35 years from and including 23 April 02/02/2014 01/02/2015 31/01/2016 of supermarkets in the United Kingdom with a market 1990 thus providing approximately 8.7 years unexpired. share of 10.6% (February 2016). The passing rent is £406,850 per annum which Turnover (£000s) 16,122,000 16,816,000 17,680,000 is subject to 5 yearly upward only rent reviews in 2019 The company has over 500 stores across the UK Pre Tax Profit (£000s) 217,000 (792,000) (176,000) and 2024. and employs approximately 125,000 staff members. WM Morrison Supermarkets Plc is rated 5A1 by Total Net Worth (£000s) 3,273,000 3,074,000 4,234,000 Tenure Dun and Bradstreet. Freehold EPC Proposal The property has an EPC rating of D86. Offers are sought in excess of £5,650,000 (Five Million Six Hundred VAT and Fifty Thousand Pounds) subject to contract and exclusive of The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going VAT. A purchase at this level would reflect an attractive net initial Concern (TOGC). yield of 6.75% after allowing for purchaser’s costs of 6.61%.

For further information or to make arrangements for viewing please contact:

Dale Johnstone Richard Lea Liam Stray 020 7543 6796 020 7543 6832 020 7543 6769 [email protected] [email protected] [email protected] www.allsop.co.uk

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 09.16