651-653B ROAD M20 6QZ

FULLY LET RETAIL & LEISURE PARADE INVESTMENT UNEXPIRED LEASE TERM 0F 12.1 YEARS, 15.7 YEARS TO EXPIRY 651-653B DIDSBURY MANCHESTER M20 6QZ

INVESTMENT CONSIDERATIONS PROPOSAL ■ Didsbury is an affluent and highly ■ Tesco and Stonegate Pub Company ■ Freehold ■ We are instructed to seek offers in desirable suburb of Manchester t/a Slug and Lettuce have been ■ Car parking to the rear of the site excess of £5,500,000 (Five Million, ■ Popular retail and leisure parade in occupation since 1998 let on a management agreement, Five hundred Thousand Pounds) in the heart of Didsbury ■ Attractive AWULT of 12.1 years terminable by either party on subject to contract and exclusive of VAT. This equates to an attractive ■ to break, 15.7 years to expiry 3 months’ notice Fully let to 5 tenants including net initial yield of 7.21% assuming a mix of national and independent ■ Total passing rent of £422,750 ■ Total site area of 1.04 acres purchaser’s costs of 6.61% operators benefiting from a diverse per annum reflecting £25 psf ■ Strong residential values, potential income stream ■ Total floor area of16,977 sq ft to convert the upper parts subject arranged over ground and first floor to planning 651-653B WILMSLOW ROAD

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M56 LOCATION Didsbury is an attractive suburb of Manchester located approximately 4.5 miles south of Manchester’s city centre along the . Manchester is the principle administrative and commercial capital of the North West of and the largest financial and business centre outside of London.

ROAD RAIL AIR Didsbury benefits from excellent road East Didsbury and Burnage Stations are System provides is located 8 miles to the communications with the A23 to the east nearby to the subject property and provide light rail communications across the Greater south of providing providing access into Central Manchester local and Northern Line services. Manchester Manchester conurbation with the subject international flights worldwide. The airport to the north and connections to the M60 benefits from two mainline stations in the city property benefitting from services through benefits from a direct rail link to the city and M56 respectively to the south. centre providing intercity services throughout East Didsbury approximately 0.2 miles to centre with a journey time of 15 minutes. the UK including direct regular services to the south east. London with a fastest journey time under two hours. Slug & Lettuce, 651 Wilmslow Road, Manchester, M20 6QZ

651-653B WILMSLOW ROAD DIDSBURY MANCHESTER M20 6QZ

Didsbury is one of Manchester’s most affluent areas and one of the most sought after locations

WILMSLOW ROAD

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

SITUATION DEMOGRAPHICS RESIDENTIAL IN DIDSBURY The property is well- Didsbury is one of Manchester’s Didsbury Village has a range of There’s a variety of house types on positioned along Wilmslow most affluent areas and one high street stores as well as a offer, from studio apartments to large Road, the main retail of the most sought after range of independent boutiques family homes. thoroughfare between locations. The suburb has a and designer stores. There A one-bedroom apartment in Didsbury Didsbury and Withington. population of around 50,000 is also a selection of beauty averages around £700 per month and a The pitch provides a and a median age of 31. salons, restaurants and banks. two-bedroom home achieves in the region mix of traditional retail, Didsbury is split into three Didsbury has a thriving of £850. Family homes can market for convenience store, areas, East Didsbury, known community with various events anywhere between £1,000 and £2,000 restaurant and leisure for excellent schools and a taking place throughout per month. occupiers including predominately residential area. the year, including Didsbury Its desirability is reflected in its property Domino’s, Aldi, Slug and West Didsbury is home to a Arts Festival, Didsbury Beer prices which average around £140,000 Lettuce and Costa Coffee. selection of restaurants and Festival, Didsbury Festival for a one bed flat, £300,000 for a semi- Didsbury Village, the centre and West Fest. The title detached and seven figures for a large of the town, which offers a comprises a large site area detached house. vibrant community. of 1.04 acres. created on Plotted Scale - 1:1,250

Misrepresentation Act: 1. Allsop LLP on their own behalf and on behalf of the instructing party, whose agents Allsop are, 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 instructing party does not make or give, and neither Allsop nor any of their members nor any person in their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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. Slug & Lettuce, 651 Wilmslow Road, Manchester, M20 6QZ

651-653B WILMSLOW ROAD DIDSBURY MANCHESTER M20 6QZ

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WILM ST The property comprises a fully let retail and leisure parade of 5 properties arranged over ground and first floors.

B5095 651a – 653 Wilmslow Road provide a parade and 651 Wilmslow Road ELM GROVE is a standalone building the other side YO RK ST of the access to the car parking. Car parking is provided to the rear of the site providing 59 car parking spaces. The title comprises a large site area of 1.04 acres. NE E LA SOUTH ROAD GRANG TENURE Plotted Scale - 1:1,250 created on Freehold.

Misrepresentation Act: 1. Allsop LLP on their own behalf and on behalf of the instructing party, whose agents Allsop are, 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 instructing party does not make or give, and neither Allsop nor any of their members nor any person in their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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 D DIDSBURY PARK working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches EandNE enquiries. ROAD Allsop is the trading name of Allsop LLP. 651-653B WILMSLOW ROAD DIDSBURY MANCHESTER M20 6QZ

TENANCY A measured survey has been undertaken by Luis and Bell, a copy is available in the data room.

Demise Tenant Sq Ft Sq M Lease Start Lease Expiry Review Break Rent (£ pa) Rent (£ psf) Comments

Ground 2,336 217 Unit A Orijen Limited t/a Croma Didsbury First 1,259 117 11/05/1998 10/05/2023 10/05/2018 £79,750 £22.17 No. 651a Total 3,597 334 Ground 2,239 208 Unit B - Camerons Brewery Limited t/a Head of First 409 38 29/11/2017 28/11/2037 29/11/2022 29/11/2027 £70,000 £26.44 No. 653 Steam Didsbury Total 2,648 246 Ground 3,358 312 Unit C - Tesco Stores Limited First 344 32 26/05/1998 25/05/2033 26/05/2023 £92,000 £24.85 No. 653a Total 3,703 344 Ground 2,357 219 Unit D - Northern Restaurants Limited La Cantina Didsbury Limited t/a The Mad Giant First 646 60 04/11/2016 03/11/2036 04/11/2021 04/11/2031 £75,000 £24.97 No. 653b is guarantor Total 3,003 279 Ground 2,551 237 Unit E - Stonegate Pub Company Limited First 1,475 137 10/07/1998 09/07/2048 10/07/2023 £90,000 £22.36 No. 651 t/a Slug and Lettuce Total 4026 374 Car Park Car Parks Limited 05/06/2009 £16,000 Let on a management agreement, the SIP rent calculated as income less 35% management fee. Termination by either party subject to 3 months’ notice.

Total 16,977 1,577 £422,750 651-653B WILMSLOW ROAD DIDSBURY MANCHESTER M20 6QZ

COVENANT

Tesco Stores Limited 00519500 Stonegate Pub Company Limited FC029833 Camerons Brewery Limited t/a The Slug & Lettuce t/a The Head of Steam Tesco Stores Ltd is a wholly owned subsidiary of Tesco Plc, the Stonegate group is the largest pub company in the UK with a vast Cameron’s Brewery is a pub company originally founded in 1852 UK’s leading food store retailer. Since opening its first store in East portfolio of over 4,500 sites which range from Leased & Tenanted based in Hartlepool. It has been a family business since 2002 and London in 1919, Tesco has just under 7,000 stores worldwide and to Managed properties. They operate a range of commercial provides a range of services including contract brewing, branded employs more than 500,000 staff. It is one of the world’s top 10 properties that include a portfolio of free of tie assets including products and a portfolio of Managed as well as Leased and retailers and a FTSE 100 company. bars, pubs and food led destinations. Tenanted pubs.

24 February 23 February 29 February 30 September 29 September 27 September 29 April 05 May 03 May 2018 2019 2020 2018 2019 2020 2018 2019 2020

Turnover £41,367,000,000 £42,219,000,000 £42,951,000,000 Turnover £774,390,000 £852,791,000 £707,000 Turnover £74,034,619 £84,106,239 £73,199,156

Pre-Tax Profit £417,000,000 £737,000,000 £1,151,000,000 Pre-Tax Profit £-4,481,000 £-24,620,000 £-746,000 Pre-Tax Profit £1,178,219 £397,271 £-3,683,367

Total Net Worth £4,071,000,000 £5,167,000,000 £4,817,000,000 Total Net Worth £-122,975,000 £-152,713,000 £194,000 Total Net Worth £10,381,624 £11,025,452 £7,395,726

Orijen Limited t/a Croma La Cantina Didsbury Limited t/a The Mad Giant Croma was set up in Manchester in 2020 and won ‘Newcomer of Restaurateur Steve Piling has converted his Didsbury tapas bar, La venues including Mr Thomas’s and Sam’s Chop Houses, Damson, the Year’. In the following years they have set up Chortan in 2005, Cantina into The Mad Giant, Didsbury Village’s first food and drink The Red Lion Stockport, La Cantina, Roost, Liquorice (now Vesper), Prestwick in 2008 and Didsbury in 2012. hall with a range of different cuisines from various food outlets. The Lost In Tokyo, Guilty by Association, The Dockyard, Gasworks, The Restaurant opened on 4th December 2019, as well as Stockport Moor Top pub, and Blackshaw’s Kitchen Stockport. Produce Hall and The Mad Giant, Pilling is best known for creating EPC ANTI-MONEY-LAUNDERING Available in data room. A successful bidder will be required to provide information to satisfy the AML requirements when Heads of Terms are agreed. VAT The property has been elected for VAT DATAROOM and we would expect the transaction to be For access to the Allsop dataroom please use the following link: treated as a Transfer of a Going Concern. https://datarooms.allsop.co.uk/register/WilmslowRoadDidsbury

PROPOSAL Offers sought in excess of£5,500,000 (Five Million and Five Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of7.21% assuming purchaser’s costs of 6.61%

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

Jeremy Hodgson Lottie Hayward Freddie Foley 07850 976 116 07817 549 237 07765 982 637 [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 06.21