H O U S E DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E H O U S E 6 16 4 1 9 7 10 15 8 14 2 11 13 12 3 5 1. Sutton Harbour 7. Civic Centre Development 13. Colin Campbell Court Development 2. Drake Circus Leisure Scheme 8. Theatre Royal Plymouth 14. Western Approach Development 3. University of Plymouth 9. Crescent Point Student Residences 15. Plymouth Pavilions Arena/Ice Rink 4. Mayflower Steps 10. Derrys Cross Leisure 16. Millbay Pier 5. Beckley Point 11. Plymouth Cross Redevelopment 6. The Hoe 12. Plymouth Bus Station Outline for indicative purposes only. H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E INVESTMENT CONSIDERATIONS ■ Exceptionally prominent city centre leisure investment ■ Neighbouring occupiers include Travelodge, Revolution, ■ The surrounding area is undergoing a major transformation totalling 33,886 sq ft Wildwood, Bella Italia, Wetherspoons and Theatre Royal with a large number of commercial, student and residential ■ Highly visible and modern building, constructed in 2002, ■ Total rent received of £463,905 per annum, developments under construction or recently completed located in the primary leisure pitch reflecting £13.69 per sq ft overall ■ We are instructed to seek offers in excess of £5,800,000 (Five Million and Eight Hundred Thousand Pounds), for our client’s ■ Primary Retail Population of 458,000 ■ Attractive WAULT of 9.47 years to earliest determination freehold interest, subject to contract and exclusive of VAT. (Source PROMIS) ■ Immediate access to significant local car parking provision, ■ ■ Occupied by national and well-regarded brands including including a 200 space car park to the rear of the property and A purchase at this level would reflect aNet Initial Yield Grosvenor Casinos, Walkabout and Sizz All the 612 space Theatre Royal multi-storey car park behind of 7.50% and an attractive capital rate of £171 per sq ft, Derry’s Cross assuming purchaser’s costs of 6.62%. H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E A(M) YR ● EES BACP ● ● M55 M56 H ● M62 M6 GRIMSBY M M80 M8 ● MANCHESTER IERP ● ● M56 Plymouth is the second largest SHEFFIE ● INCN ● M city in the South West NTTINGHAM BSTN M6 ● ● LGHBRGH ● NRWICH ● M42 EICESTER ● PETERBRGH BIRMINGHAM ● ● A(M) M6 300 miles NRTHAMPTN BRY ST M5 ● CAMBRIGE EMNS ● ● M BEFR WRCESTER ● ● MITN EYNES M6 M50 ● A(M) 200 miles CHEMSFR OFR ● ● M25 SWANSEA M48 ● PAINGTN M4 M4 CARIFF ● M32 LNN BRISTOL BATH M2 ● M25 MAISTNE M20 M3 ● M5 M23 FSTNE 100 miles ● M2 ● STHAMPTN A3(M) BRIGHTN ● ● EETER PRTSMTH WEYMTH ● PYMTH TRRO ● PENANCE FAMTH ● ● LOCATION Plymouth is the second largest city in the South West and is Plymouth is situated on the South Devon Main Line, ROAD RAIL AIRPORT widely renowned for its maritime history and its association a major route from London Paddington to Penzance, Exeter 45 miles Exeter 55 mins Newquay 45 miles with being an international seaport. The city is situated via the Great Western Main Line. Plymouth Railway approximately 45 miles south west of Exeter, 112 miles Station is on the northern edge of the city centre, Truro 55 miles Penzance 1hr 48 mins Exeter 55 miles south west of Bristol and 220 miles south west of London. approximately a 15 minute walk from the property. Bristol 112 miles Bristol 1hr 51 mins Bristol 112 miles Plymouth city centre is located 2.8 miles to the south The station is the second busiest interchange in London 220 miles London Paddington 3hr 07 mins London Gatwick 220 miles of the A38 Devon Expressway connecting the M5 Devon providing a wide range of regular regional at Exeter to the north east with Cornwall via the A390 and Inter-City services operated by Great Western & A30 arterial roads. Rail (GWR) and CrossCountry. H O B3250 U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E PLYMOUTH Plymouth is the second largest city in the South West of England, providing the commercial and administrative hub for the County of Devon. It is the largest port city on the south coast of England with a resident population of 259,200 (ONS 2013), making it the 15th largest city by population in the UK. IPSN AE PLYMOUTH In addition to a large commercial and ferry port, A386 Plymouth hosts the largest military naval base PLYMOUTH B3250 in Western Europe, stationing over 2,500 armed STATION forces personnel and significant manufacturing and IPSN engineering supporting sectors. Plymouth Science Park is the region’s largest science and technology park with over 140,000 sq ft of office B3238 and laboratory space. UNIVERSITY Plymouth University is the 9th largest in the UK with 21,000 students enrolled, which is supplemented by B3214 the University of St Mark & St John and the international language school who have a further 3,000 students. A374 Plymouth’s relatively isolated location has resulted in very little competition from surrounding retail centres H O U S and the city has seen a number of new retailers opening E stores, including Jack Wills, Joules and White Stuff. RETAIL ST ES City centre retail floorspace in Plymouth is estimated at 1.55 million sq ft, provided by two covered shopping A379 centres and numerous high street shops situated on LEISURE New George Street, Old Town Street, Cornwall Street and Armada Way. There are also three department stores; WATERFRONT Marks & Spencer, Debenhams and House of Fraser. B3240 BARBICAN STTN Drake Circus and The Armada Centre are the two HARBR shopping centres in the city centre, providing 735,000 sq ft of retail and leisure accommodation. Drake Circus BARBICAN is the primary shopping destination, providing 560,000 THE HE ARK MIBAY sq ft in 72 shops and restaurants, anchored by Primark TOURIS (66,000 sq ft) and Marks & Spencer (124,000 sq ft). It has 1,270 parking spaces and is arranged over three WEST HE COSIE trading levels. The centre opened in 2006 and has an annual footfall of around 17 million shoppers. The Armada Centre is located in a secondary retail location, comprising 175,000 sq ft of retail accommodation with occupiers including Wilkinson, Peacocks, Laura Ashley and Sainsbury’s. H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E 5 4 SITUATION 3 The property is prominently located in the city centre’s main leisure pitch, on the south western edge of Plymouth city centre, with frontage onto Derry’s Cross roundabout. 1 All units are highly visible and benefit from footfall generated by the property’s 6 excellent position on a major thoroughfare from Union Street to the main city centre retailing provision, located directly to the north east. The property is adjacent to a number of national leisure occupiers in the neighbouring purpose-built Derry’s Cross scheme, comprising 85,711 sq ft of leisure floorspace including a 96 bedroom Travelodge, The Gym, Bella Italia, Revolution Bar and Wildwood. The property benefits from immediate access to significant local car parking provision, including a 200 space car park to the rear of the property, accessed 7 via Derry’s Cross. There are a further 612 spaces in the multi-storey car park adjacent to the Theatre Royal. 10 Local transport links are excellent with numerous local bus services available on Union Street, Derry’s Cross and Royal Parade. Plymouth Railway Station is 8 situated a 15 minute walk to the north. 1. Western Approach Development 6. Plymouth Cross Redevelopment 2 2. Plymouth Pavilions Arena/Ice Rink 7. Theatre Royal Plymouth 3. Colin Campbell Court Development 8. Derrys Cross Leisure Scheme 4. Plymouth Market 9. Crescent Point Student Residences 5. Plymouth Bus Station 10. Civic Centre Development 9 Blue Line - Freehold Title Boundary H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E DESCRIPTION The property comprises a modern three storey building constructed in 2002, providing leisure accommodation on ground and two upper floors. The ground floor comprises two bar/restaurant units as well as the entrance to the casino. The two upper floors accommodate the casino on the first floor and staff and ancillary provision on the second floor. The property is of steel frame construction which supports composite profiled metal and cast concrete floor and roof decks. Given the sloping nature of the site, ground floor areas to the rear are below ground level and are formed with a concrete retaining wall. Internally the units have been fitted out by the tenants to suit their occupational requirements; including a casino fit out at first floor and a restaurant and pub at ground floor. Servicing is via the rear of the property, accessed from Derry’s Cross. Due to the sensitivity of the tenant’s operations, all employees and members of the public vacated the building for photography. H O U S DERRY’S CROSS, PLYMOUTH, PL1 2SW PRIME CITY CENTRE LEISURE INVESTMENT E ACCOMMODATION & TENANCIES UNIT TENANT NAME DEMISE GIA AREA GIA AREA LEASE LEASE RENT RENTS RECEIVED CONTRACTED RENTS RECEIVED COMMENTS (SQ FT) (SQ M) START EXPIRY REVIEW (£ PA) RENT (£ PA) (£ PSF) Unit 1 Eldridge & Pope & Co. Ltd GF Restaurant 6,605 613.6 25/03/2003 24/03/2028 25/03/2018 £125,000 £125,000 £18.93 The rent demand is addressed to and paid by (Sub-let to Sanshui Ltd) 25/03/2023 Marston’s Plc. [t/a Sizzall] The unit was underlet to San Shui Ltd (t/a Sizz All) Mezzanine 4,388* 407.7* on 29 May 2008 and expires on 21 March 2028.