UNITS 1 & 2 MARINER’S WAY , PR2 2YN

RETAIL WAREHOUSE INVESTMENT UNITS 1 & 2, MARINER’S WAY PRESTON, PR2 2YN RETAIL WAREHOUSE INVESTMENT

INVESTMENT CONSIDERATIONS PROPOSAL

■ Two modern retail warehouses totalling 15,023 sq ft ■ Let to the secure covenants of Pets at Home (5A) ■ We are instructed to seek offers in excess of £2,950,000 (1,395.7 sq m) within two units and Halfords (5A) (Two Million, Nine Hundred and Fifty Thousand Pounds) ■ Leasehold. 125 years from 29/07/1997 at a peppercorn, ■ Producing a total rent of £307,970 per annum, subject to contract and exclusive of VAT. A Net Initial Yield of 9.80% thus having 103 years unexpired equating to a passing rent of £20.50 psf. purchase at this level reflects a , allowing for standard purchaser’s costs. ■ Adjacent 60 car parking spaces (ratio 1:250 sq ft) UNITS 1 & 2, MARINER’S WAY PRESTON, PR2 2YN RETAIL WAREHOUSE INVESTMENT

A687

A65 A61 A19 LANCASTER

A59 YORK A658 A65

LOCATION M6 A61 Leeds A64 Bradford A6068 A629 A1(M) A19 Preston is the administrative centre of linking Preston and . The M61 and M65 both A585 located 25 miles (40 km) south of Lancaster, 35 miles terminate at Preston with the M61 providing access BLACKPOOL A59 LEEDS M55 BRADFORD (56 km) North West of and 62 miles to Manchester via Bolton and the M65 linking the city A583 A59 (99 km) west of Leeds. It is a major commercial to Colne via and Burnley. Blackpool PRESTON A63 M65 A646 HALIFAX centre with the city being home to major offices for A59 Preston Railway Station is a major hub on the A56 M62 the British Defence Aerospace industry with key BAE , offering direct services to A565 A6033 Systems facilities located on either side of the city. SOUTHPORT HUDDERSFIELD London Euston (2 hours 8 minutes) to the south M61 ROCHDALE A1 M6 M66 M62 M1 Other major employers include the Springfields and , Edinburgh and Aberdeen in the north. A570 A59 BOLTON Nuclear Processing Plant, James Hall & Co, It also serves as a centre for connecting services to A629 Fulwood, Eric Wright Group and Homeserve. The Blackpool, Lancaster, Blackburn, Leeds, Manchester, M58 OLDHAM area benefits from excellent communications with the and . MANCHESTER A628

city prominently situated on the national road and A580 Liverpool John Lennon Airport and Manchester Robin Hood rail networks, both of which provide excellent links LIVERPOOL Airport, both international airports, are approximately M60 A1(M) across the UK. M62 40 miles (64 km) south-west and south-east of the k r

a SHEFFIELD Preston is situated on the M6 providing access to city respectively. Preston Railway Station provides a P Liverpool l A1 Manchester a M56 A523 to the south and and Scotland direct service to Manchester Airport, with a journey n M1 o M53 i A623 t to the north. The M55 lies to the north of the city time of approximately 52 minutes. A61 a

N Retford t A60 c i r A556 t s i D M6 A614 k A53 a Hawarden e P

A51 UNITS 1 & 2, MARINER’S WAY PRESTON, PR2 2YN RETAIL WAREHOUSE INVESTMENT

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s a The property is situated on the southern side of Mariner’s Way, W t t

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y r a just 1.4 miles (2.2 km) east of Preston city centre. Mariner’s Way t n re d Mariners Way e provides direct access to the A583, which in turn links to the M55 t

C Motorway to the west and Preston city centre to the east. h an ne Marina l W The property is located within established commercial location, a y anchored by a number of retail warehouse, office and leisure tenants within the immediate area including Regus, Odeon and KFC as well as several car show rooms. 59 A Na vi P The property comprises part of the main out of town retail pitch gation Way o rt W Road with other national covenants including Mothercare, Mothercare, ay Talbot

Benson for Beds and Carpetright (Sleepright) and a Morrison’s

superstore and petrol station.

Additionally, there are a number of residential developments Po rtr W positioned within proximity to the Marina. ay

TENURE

PENWORTHAM GOLF CLUB 9 5 ill A H Leasehold. 125 years from 29/07/1997 at a peppercorn, thus e at rg Preston he having 103 years unexpired. The freeholder is Preston City Council. Fis

© Crown Copyright, ES 100004106. For identification purposes only.

A5 PRESTON 9 SPORTS CLUB

A59 UNITS 1 & 2, MARINER’S WAY PRESTON, PR2 2YN RETAIL WAREHOUSE INVESTMENT

DESCRIPTION The property provides two semi-detached retail warehouses totalling 15,023 sq ft (1,395.7 sq m). The buildings are of steel portal frame construction with part brick and part profiled metal clad elevations, under profiled metal clad roofs. The units are serviced from the front and side. The site provides a total of 60 car parking spaces which reflects a ratio of 1:250 sq ft. The site totals approximately 1.12 acres (0.45 hectares) with site cover of 33.8%.

ACCOMMODATION & TENANCY INFORMATION The property is multi-let to two individual tenants producing a current contracted rent of £307,970 per annum, equating to a rental rate of £20.50 psf. The leases provide a weighted average unexpired term of 2.40 years. DEMISE TENANT TOTAL AREA LEASE LEASE RENT WAULT PASSING PASSING (SQ FT) START END REVIEW (EXPIRY) RENT (£P.A.) RENT (£PSF) Unit 1 Pets at Home Limited 7,523 25/03/1997 24/03/2022 2.40 £154,220 £20.50

Unit 2 Halfords Limited 7,500 25/03/1997 24/03/2022 25/03/2017 2.40 £153,750 £20.50

TOTAL 15,023 WAULT 2.40 £307,970 £20.50 EPC AML Please refer to the Allsop Marketing Data Room for supporting A successful bidder will be required to provide information to satisfy documentation. the AML requirements when Head of Terms are agreed.

VAT DATAROOM We understand the property has been elected for VAT. It is anticipated For access to the Allsop dataroom please use the following link: that the sale will be treated as a Transfer of Going Concern (TOGC). https://datarooms.allsop.co.uk/register/marinerswaypreston

PROPOSAL We are instructed to seek offers in excess of £2,950,000 (Two Million, Nine Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.80%, allowing for standard purchaser’s costs.

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

Tom Dales Andrew Wise Gergo Petrovics 020 7543 6869 020 7543 6731 020 7543 6847 [email protected] [email protected] [email protected]

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 11.19