Wickes Carmarthen Road
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WICKES A483 CARMARTHEN ROAD | SWANSEA SA5 8LD RETAIL WAREHOUSE INVESTMENT OPPORTUNITY WICKES SITUATION TENURE, TENANCY, INVESTMENT LOCATION & TENANT FURTHER & RETAIL DESCRIPTION PLANNING & ASSET CARMARTHEN ROAD | SWANSEA SA5 8LD HIGHLIGHTS DEMOGRAPHICS COVENANT INFORMATION WAREHOUSING MANAGEMENT INVESTMENT HIGHLIGHTS • Swansea is the principal retail and • The subject property enjoys a prominent • Large site area of 5.88 acres and attractive We are instructed to seek offers commercial centre for South West Wales. and visible position on the A483 car parking ratio of 1:215 sq ft allowing for of £9,220,000 (Nine Million, Two Carmarthen Road, the main arterial route further development. • The city benefits from having an extensive linking between J47 of the M4, Carmarthen Hundred and Twenty Thousand catchment population of over 315,000 and the city centre. • Attractive unexpired lease term of around Pounds), subject to contract and people. 11 years, with a rent of £669,780 per exclusive of VAT. This reflects an • There is very limited DIY competition, annum, reflecting a relatively low level per attractive net initial yield of 6.75% • The lack of nearby towns with a comparable with there only being one other DIY store in sq ft of £12.88. (assuming purchaser’s costs of retail offer results in Swansea being a Swansea, which is unusual for a city of this 7.57%). dominant retailing destination, drawing size. • Asset management potential to include a from an extensive catchment area. pod development subject to planning. • The unit totals 52,000 sq ft and is let to the 5A1 covenant of Wickes Building Supplies Limited. WICKES SITUATION TENURE, TENANCY, INVESTMENT LOCATION & TENANT FURTHER & RETAIL DESCRIPTION PLANNING & ASSET CARMARTHEN ROAD | SWANSEA SA5 8LD HIGHLIGHTS DEMOGRAPHICS COVENANT INFORMATION WAREHOUSING MANAGEMENT Hereford Talgarth LOCATION & DEMOGRAPHICS Llandovery A40 Brecon A40 Swansea is the second largest city in Wales and is the principal retail 4 M503 and commercial centre for South West Wales. The city is located 190 Llandeilo Carmarthen miles west of London and 49 miles west of Cardiff. Port Talbot, one Brecon Beacons A40 A40 National Park A40 of the principal industrial locations within South Wales, is locatedA40 A48 Abergavenny 9 miles to the east of the city. Ammanford Merthyr Ebbw Vale Tydfil A40 The town benefits from excellent road communications, with the 49 M4 situated 6 miles to the north of the city centre accessed via the Resolven M448 Aberdare A483 Carmarthen Road. The city enjoys a direct rail service into Pontypool Llanelli 47 46 45 London Paddington and Cardiff Central with a fastest journey time 44 43 Neath Cwmbran of 2 hours 55 minutes and 53 minutes respectively. There are also 42 Chepstow scheduled flights between London City Airport and Swansea Airport. SWANSEA 41 2 40 14 26 25 24 1 Port 39 Pontypridd 27 23 Talbot Caerphilly Newport 21 Swansea benefits from having a large catchment population 38 28 M4 22 30 29 36 16 of 315,000 people, ranking the city 40th out of the top 200 PMA 37 32 17 35 M4 Retail Centres as a result of its easy accessibility and distance 34 33 19 Porthcawl Bridgend CARDIFF 18 1 from competing centres. There are 98,119 people living within a 19 2 3 10 minute drive time of the subject property, extending to 290,517 Clevedon M5 20 people within a 20 minute drive time. CARDIFF Barry BRISTOL Swansea has developed into the Weston- BRISTOL principal retail and commercial super-Mare 21 centre for South West Wales. M4 motorway - 6 miles to the north Ilfracombe Burnham-on-Sea 22 of the city centre Minehead London Paddington - 2 hours 55 mins Cardiff Central - 53 mins The city ranks 38th in terms of the volume of total retail centres in the UK at Swansea Bay which employs over 5,000 spend available within the Primary Retail Market Area, people, and many more at peak seasonal times. Public with total retail expenditure in 2018 being £1.619 million Services is the largest source of employment accounting for significantly above the PMA average of £1.269 million. around 27% of total employment, and this includes large Scheduled flights between London public organisations such as the Driver Vehicle Licensing City Airport and Swansea Airport The Admiral Group and BT are large employers in the city, Authority (DVLA), Swansea University and HM Land along with Amazon who have one of the largest distribution Registry. WICKES SITUATION TENURE, TENANCY, INVESTMENT LOCATION & TENANT FURTHER & RETAIL DESCRIPTION PLANNING & ASSET CARMARTHEN ROAD | SWANSEA SA5 8LD HIGHLIGHTS DEMOGRAPHICS COVENANT INFORMATION WAREHOUSING MANAGEMENT 47 45 A 4 D 8 46 A M4 O SITUATION R 8 4 H A A 4 8 T A The Wickes unit sits in a prominent position with A 4 E D 8 C L A S N A E M O excellent visibility from the A483 Carmarthen Road. N T O R O R A L D This road forms the principal dual carriageway serving L A A E N S the western conurbation of the city, linking the city D N Y A F centre, approximately 1.8 miles to the south-east W E L SWANSEA S A A of the subject property, with junction 47 of the M4 Valley S C 4 ENTERPRISE ZONE H 8 motorway, being approximately 2.1 miles directly to Woods R O A the north. D A 4 8 7 3 6 8 0 4 4 A A RETAIL WAREHOUSING A 4 8 4 IN SWANSEA D R D 7 W Y D 1 N E 2 D 4 D A Y The situation of the property on the A483 forms one N Y D C M B A A P PONTARDDULAIS of the main retail warehouse destinations in Swansea, R 4 M O O A R 4 R T N ROAD RETAIL PARK H N 8 with Fforestfach Retail Parc and Pontarddulais Road E T 9 A R 7 Retail Park in close proximity. Fforestfach Retail Parc D 6 D P 0 TESCO EXTRA U E 4 totals 135,000 sq ft of accommodation and is anchored N A L T FFORESTFACH A R I G S B&Q - MORFA 7 by a 110,000 sq ft Tesco foodstore. The tenant line E 1 RETAIL PARC R T H 2 O SHOPPING PARK 4 D I L up includes H&M, The Works, Boots, New Look, A N A R L D R A L O L A N Poundland, River Island, Clarks, EE, Costa, Anytime I D G H N Y Fitness, DW Sports & Fitness and HomeSense. F E V E A L R A Pontarddulais Road Retail Park totals 80,000 sq ft C C H A A 4 C and is let to retailers including M&S Simply Food, W R R 2 M M 1 B A O A C R T 7 7 H R H A 1 Carpetright, Pets at Home, Hobbycraft, Laura Ashley, O A D E 2 N ICELAND D A 4 T R O A WICKES E Currys PC World and Argos. A Dunelm is adjacent to D E R A the scheme. B&M 4 T 8 B 3 S 4 D E 4 A G B&M, Home Bargains, Iceland and The Range all have 8 O 9 D R I 7 HOME BARGAINS E U A R standalone units in the vicinity of the A483. E N 1 T V 4 B S A 8 2 T G O R S O R A V E G 3 4 E N U E A K DIY retailing is under represented in Swansea, with C THE RANGE D O A O the only other DIY competition coming from B&Q on R C L I L N H T N E W S Morfa Shopping Park, over 2 miles east of the subject O H W T Y I T G AD P C T SWANSEA property. O E H U R N A 7 -Y F T L 1 S - Y L G 2 I T R R D H D 4 The retail warehousing in Swansea is shown on the N A A W I O G T RD PARC TAWE map opposite. RETAIL & LEISURE PARK A 4 8 3 WICKES SITUATION TENURE, TENANCY, INVESTMENT LOCATION & TENANT FURTHER & RETAIL DESCRIPTION PLANNING & ASSET CARMARTHEN ROAD | SWANSEA SA5 8LD HIGHLIGHTS DEMOGRAPHICS COVENANT INFORMATION WAREHOUSING MANAGEMENT DESCRIPTION The subject property provides a purpose built standalone retail warehouse unit let to Wickes, totalling 52,000 sq ft. The car park is located to the front of the unit, providing 242 spaces, giving an attractive ratio of 1:215 sq ft. There is a large separately accessed service yard to the rear of the unit. The dual access allows for flexibility of the future site uses. Internally, the property is fitted out to Wickes’ specification. There is a large area dedicated to a kitchen and bathroom showroom close to the entrance to the unit. The store has a first floor of around 2,000 sq ft containing offices and staff amenities. Therefore, there is sufficient eaves height within the unit to install a mezzanine, subject to planning. The unit also benefits from having an external project centre of circa 20,000 sq ft and a storage compound of around 10,000 sq ft. There is a large site area totalling 5.88 acres (2.61 hectares), with a very low site cover of just 20%, allowing for further development, subject to planning. The low site cover of 20% combined with a large site area of 5.88 acres allows for further development WICKES SITUATION TENURE, TENANCY, INVESTMENT LOCATION & TENANT FURTHER & RETAIL DESCRIPTION PLANNING & ASSET CARMARTHEN ROAD | SWANSEA SA5 8LD HIGHLIGHTS DEMOGRAPHICS COVENANT INFORMATION WAREHOUSING MANAGEMENT 49 B 7 U R 1 1 5 L 0 1 A I S Shelter 6 5 Garage ASSET MANAGEMENT OPPORTUNITIES The property is situated in a prominent location with excellent visibility from the A483, as well as accessibility off it.