17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

> 2 FORMBY 17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

INVESTMENT SUMMARY n 100% prime retail and residential investment in affluent Formby n Total income: £40,300 per annum n Retail unit let to Barnardo’s until December 2026 at £32,500 per annum n Price: £695,000 (subject to contract and exclusive of VAT) n Large 2-bedroom flat let on an AST at £7,800 per annum n Net Initial Yield of 5.5% after allowing for purchaser’s costs of 5.29% Durham A595

A691 A596 Staveley 41 A19 61 Maryport A179

Penrith Workington Bishop Auckland A689 HARTLEPOOL A68 60 A688 A66 40 A689 A66

A595 Keswick Billingham Appleby-in-Westmoreland 59 MIDDLESBROUGH A1053 A688 58 White Haven A591 A66 A66 Easington A19 39 A66 57 A66 A171 Whitby A66

A66 A6 56 A172 38 Ambleside

A591 Staveley Catterick A595 A171 A5284 A19 37 North York Moors National 51 A591

Scarborough

A5092 A590 A170 36 A170 A595 Kilburn Yorkshire Dales A590 A65 National Park 50 A168 35 A165 A64 Ripon 49

Barrow In Furness M6 A687 A61 Boroughbridge A19 Bridlington 34 Lancaster A598 A64 A65 A614 A166 A166 Harrogate A1237

33 A59 47 A59 A682 YORK A614 A165 46 A1M A1237 A1079 Pocklington A64 A65 A61 A56 45 A682 A64 45 A6068 A629 Market A1035 14 A660 Weighton 44 A19 13 A1079 A587 A59 12 A650 A658 A6120 Beverley 43 A165 A583 32 A671 A6120 3 M55 A614 1 11 BRADFORD LEEDS 4 47 A1079 3 FORMBY 17/17a Chapel Lane, L37M6 4DL PRIME RETAIL & RESIDENTIAL10 INVESTMENT A647 46 A59 M65 9 A164 A6 7 Selby BLACKPOOL A583 A666 3 2 A63 31 3 4 45 7 44 PRESTON 6 M621 5 A63 38 A584 A629 2 1 43 KINGSTON UPON HULL BLACKBURN A646 1 27 6 A63 30 M606 7 A63 37 28 29 A63 5 A646 26 29 A53 42 29 29 3 4 A56 LOCATION 1 M62 30 31 Formby is an affluent commuter town located approximately 13 miles LEYLAND 28 M65 A58 25 41 Wakefield 32 33 A644 34 A565 35 north of Liverpool and 8 miles south of . Transport connections 24 M62 A628 Buckshaw 40 are excellent with Formby and train stations providing regular Village 8 23 A15 Southport CHORLEY 1 A58 service to Liverpool Central Station. Liverpool can also be easily reached M6 M61 22 Huddersfield A1 17/17a Chapel Lane A666 M66 39 A180 by car in around 35 minutes using the A565 bypass which provides direct A576 ROCHDALE M62 A629 BURY 21 A58 M1 M161 routes to Liverpool, Southport and other neighbouring towns as well as an 27 Horwich 2 5 BOLTON 20 M180 SCUNTHORPE 5 3 6 A58 19 easy connection to the National motorway network. Liverpool John Lennon Formby Ormskirk 38 2 Barnsley Airport is around 40 minutes away whilst Manchester International Airport M58 5 M61 A1(M) 3 4 4 3 4 19 OLDHAM 38 4 M180 A565 5 26 3 17 20 37 GRIMSBY is around 1hrs drive away. 16 21 Walkden 22 A629 1 M18 Crosby 14 Wardley DONCASTER 25 A627 36 7 A580 37 A628 A46 Formby sits on the coast and provides a very attractive environment for M6 12 SALFORD 24 1 2 3 3 A6010 23 A15 6 35 A580 11 Eccles 36 A159 residents and visitors alike with attractions including Formby Beach and M57 23 10 2 A16 Bootle 4 M67 ST HELENS 24 3 3 A46 the renowned Formby Golf Club. M62 MANCHESTER 35 A18 A58 Wallasey 3 Rotherham 102 22 11 A6 34 A631 Bawtry 25 34 10 6 A34 1 A5058 21A 26 1 A57 M62 27 8 9 A56 5 A1103 Moreton 4 5 6 7 33 Hemswell Cliff 1 4 2 2 21 3 2 1 3 A553 A631 A631 Birkenhead A630 32 A631 A5300 A557 4 M60 SHEFFIELD 3 LIVERPOOL 5 A562 20 8 M56 6 A41 Widnes A56 A6 31 Prestatyn Speke 9 Peak District A57 A15 A46 A16 Llandudno 4 Manchester A6102 10 Airport National Park Rhyl Heswall Liverpool A533 River Mersey John Lennon 11 Airport A523 A540 M53 A557 A34 12 19 A1 5 6 A61 A55 7 M6 30 Colwyn Bay Rhuddlan 8 Ellesmere Port A623 A547 A533 A537 A6 A55 9 A158 A55 M56 A556 A619 10 14 A537 A548 St. Asaph A548 29 Llanfairfechan A49 11 A537 Chesterfield 15 15 NORTHWICH MACCLESFIELD Lincoln A541 Flint A6 A158 A525 A41 A619 A614 A473 A548 A6020 A5119 A5117 A556 A60 A54 A34 12 A533 29a A1 A158 Denbigh 18 A54 A544 A494 A51 A513 A49 CHESTER A523 A53 A61 A55 Congleton A6 Mansfield Llanrwst A16 A494 Ruthin 17 A50 A470 A41 A51 A34 A530 A534 A5 28 A1 M6 A515 A15 A527 A60 A470 A534 A534 A53 A6097 A5 A494 16 A523 Nantwich A500 27 A500 A520 Wrexham A41 A49 Nuneaton A46 A52 A5 A34 A51 Stoke A6 A38 A52 26 Corwen A5 on-Trent Sleaford Llangollen A525 A52 NOTTINGHAM 15 A51 A52 A52 A515 25 A52 A34 A50 A52 A520 A606 A53 Derby A52 A52 A46 Snowdonia A495 A6 A17 National Park A519 Stone M1 A518 A16 A50 24 A453 A5013 A51 A511 A15 A470 A494 A38 A1 A34 A49 A607 A148 A41 A519 Spalding A17 23a 14 Stafford Bourne A151 A53 A518 Melton Mowbray A5 B5405 Kings Lynn A444 A46 13 Loughborough A1175 A38 23

A607 A1101 Shrewsbury A606 A458 12 A458 A5 A5148 22 A134 7 M54 11 A6 A16 6 5 Oakham Telford A10 11 T7 4 Stamford A470 A458 T6 M42 A487 3 T5 A51 2 1 A444 LEICESTER 10 A15 T4 21a A563 A458 A47 10 A1122 21 A47 3 M6 Toll A5 T3 4 FORMBY 17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

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SITUATION 4 u ad Riding School t h o F To Southport p R o o The subject property occupies the finest trading position on Chapel Lane r m r t gu b O a t y l d which is the prime retail pitch within Formby Village. Marks & Spencer n B o R y d M p Simply Food and Waitrose supermarket are each within 100m of the a s s

P n a L subject property and the main village centre car park with approximately Formby n r s a s L o d M

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180 spaces is immediately to the rear. Costa and Rowlands Pharmacy o e e m’s Ln L assa n m M Freshfield r s Ln are immediately adjacent with other occupiers including Boots, Iceland, a m d National Trust Rail Station g Tim rt R

po r Formby beach A h M&Co, Pizza Express and Caffè Nero. Formby Cricket, ut So D Hockey & Squash Club ea

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d 5 FORMBY 17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

DESCRIPTION The premises comprise a two storey mid terraced brick built building under a pitched slate roof. The property is arranged to provide a ground floor retail unit and a self-contained, generously proportioned two double bedroom flat at first floor.

The flat was substantially refurbished in 2012 at a cost of approximately £50,000.

CHARITYBARNARDO’S SHOP ACCOMMODATION The property has the following approximate floor areas;

Ground Floor Sales 1,306 sq ft (121.4 sq m) ITZA 744 units Ground Floor Ancillary 75 sq ft (6.97 sq m) 1st Floor Flat 709 sq ft (65.87 sq m)

Experian Goad Plan Created: 03/07/2019 50 metres Created By: Mason Owen and Partners 6 FORMBY 17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

TENANCIES TENURE Ground Floor Retail Unit The entire property is held long leasehold for a term of 999 Let to Barnardo’s on effective full repairing and insuring years with effect from 25th March 1951 at a fixed ground rent terms for term until 15th December 2026 at a current rent of of £12.00 per annum. The ground floor retail unit is held on a £32,500 per annum subject to an upwards only rent review sub long leasehold interest for 938 years from 2nd December on 16th December 2021. 2011 at a fixed ground rent of £12.00 per annum.

First Floor Flat This arrangement was created so that a SIPP can hold the Let on an Assured Shorthold Tenancy until 27th April 2020 at retail element but not the residential. The ground floor £7,800 per annum. sub long lease could obviously be collapsed in the future depending upon the particular requirements of a purchaser. The total income receivable is therefore £40,300 per annum.

COVENANT INFORMATION Barnardo’s is a charity founded by Thomas John Barnardo in 1866 to care for vulnerable children. In 2017/18 they worked to help over 300,000 children, young people, parents and carers.

Year End 31/03/2018 31/03/2017 31/03/2016

Turnover £304,271,000 £301,486,000 £298,660,000

Pre-tax Profit £4,983,000 £348,000 £7,566,000

Shareholder’s Funds £2,038,000 £2,153,000 £14,844,000 7 FORMBY 17/17a Chapel Lane, L37 4DL PRIME RETAIL & RESIDENTIAL INVESTMENT

EPC 17a Flat - D(66) 17 Retail Unit - D(82)

VAT The property is elected for VAT. Providing certain criteria are met the transaction may be treated as a Transfer of a Going Concern (TOGC).

PROPOSAL We have been instructed by our clients to seek offers in excess of £695,000 which would show a net initial yield of 5.5% after allowing for usual purchaser’s costs of 5.29%.

FURTHER INFORMATION For further information please do not hesitate to contact:

JAMIE MOFFATT ANDREW SCOTT 0151 242 3042 0151 242 3043 [email protected] [email protected]

Misrepresentation Act 1967 Messrs. Mason Owen & Partners for themselves and for vendors or lessors of this property whose agents they are give notice that:- (i)The particulars are set out as a general outline for the guidance of intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract. (ii)All descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details, are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) No person in the employment of Messrs. Mason Owen & Partners has any authority to make or give any representation or warranty whatever in relation to this property. Finance Act 1989 Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991 These details are believed to be correct at the time of completion but may be subject to subsequent amendment. Designed and produced by Richard Barber & Co. www.richardbarber.co.uk.