Parade, Sutton Coldfield
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PARADE, SUTTON COLDFIELD PRIME HIGH STREET RETAIL INVESTMENT LET TO NATIONAL COVENANTS INVESTMENT SUMMARY 100% prime retail pitch on Parade Directly opposite main entrance to Gracechurch Shopping Centre Let to two multinational, 5A1 occupiers: Superdrug Stores Plc and HSBC Bank Plc Superdrug and HSBC have been in occupation for at least 27 and 16 years respectively Freehold Total passing rent of £198,500 pa WAULT to expiry of 4.34 years (2.68 to break) Potential redevelopment plan on upper floor (STP) PROPOSAL Offers sought in excess of £2,400,000 reflecting a net initial yield of 7.78%. Subject to contract and exclusive of VAT. Yields are net of purchaser’s costs of 6.36% Sutton Coldfield is the most affluent borough of the West Midlands conurbation with high levels of household income and low unemployment PARADE, SUTTON COLDFIELD 37 4 4 4 4 3 5 3 17 37 M58 Wigan M6015 1 14 25 36 36 A46 7 Kirkby A628 24 A616 6 23 A159 5 MANCHESTER 35 4 1 3 22 M62 6 Rotherham A15 A16 LIVERPOOL 3 11 A631 2 9 1 A631 1 M62 9 34 4 5 7 M60 34 2 33 32 Gainsborough 5 SHEFFIELD 34 Louth 3 20 6 Prestatyn Bebington 7 31 4 MANCHESTER 11 M5610 A6 Retford A46 M53 19 12 M1 A16 5 A61 A156 8 A623 A1 9 Ellesmere 30 A57 A158 Port 10 14 Buxton Flint Chesterfield 16 M6 A34 Macclesfield Lincoln 12 A6 18 29 Chester A158 A53 A515 D A494 A55 A523 17 Mansfield R Matlock N Leek O Crewe 28 A15 T Newark- A17 A52 IF 16 A500 on-Trent A38 27 L Wrexham Nantwich C A607 Eastwood A46 R A52 Ashbourne E A17 Newcastle- A1121 Boston Ilkeston 26 P 15 Under-Lyme P A5 A52 A1 A52 A50 U LOCATION AND A52 A16 A148 A53 A34 NOTTINGHAM SUTTON Uttoxeter DERBY 25 A52 A5 Stone Grantham COLDFIELD P A17 ARA15 DEMOGRAPHICS Oswestry M6 A50 A607 K D RD Y R A51 Burton upon 24 A148 OR 14 EAST A151 ECT A515 Trent MIDLANDS Spalding R Stafford King's A38 Melton A17 L A5 Lyn n L A42 Mowbray A1101 I Newport 13 Rugeley 23 H C Y A47 O East Sutton Coldfield is located approximately 8 miles (13 km) north A607 T M1 A606 I A458 A1 A16 N DeL reham I A1065 A47 R E 22 7 A16 S of Birmingham city centre, 11.5 miles (18.5km) east of Walsall 6 12 Cannock 11 Stamford A10 T 5 Wisbech A458 Norwich H 11 M6(T) Downham A Swaffham A606 I Telford M54 A1139 E 5 L and 8.5 miles (13.5km) south west of Tamworth. SUTTON COLDFIELD A1122Market 2 LEICESTER D 1 L A47 A 2 A483 S A47 A6003 R 7 21 63-67 PARADE A T Walsall A47 Peterboroug h P WOLVERHAMPTON 10 M42 Wigston March R A43 A11 E M69 The town benefits from excellent road links via the M6 which A6 8 7 Hinckley W A134 A489 9 2 O West Bromwich L SUTTON M6 Nuneaton 1 Dudley 1 6 5 8 provides access to Manchester (95 miles) and the North West. A10 RED ROSE M1 2 A427 A605 Corby CENTRE COLDFIELD A141 D BIRMINGHAM GRACECHURCH S R A470 A6116 Halesowen L P The town also has easy access to the M42, to the east of the 3 L BIRMINGHAM 20 CENTRE A I 3 R Thetford H 6 2 A1066 S A1165 A A1 E D L M6 Ely town, which in turn leads to the M5 and the southA483 and west of M42 1 E A142 E O Solihull 19 Kettering 7 M5 5 A11 C Kidderminster COVENTRY 2 D 4 M 4 A 1 Rugby NO A14 Huntingdon A Mildenhall A143 U England. 5 1 2 18 A508 A43 R 3 RD R P A45 A Bromsgrove 16 St Ives A P M42 M45 17 A10 Wellingborough NEWHALL WALK A448 P E M40 Leamington A14 A449 RETAIL PARK R Spa A14 5 By rail there are direct and frequent commuter services from the Redditch Rushden AND 69-101 A140 H A14 Newmarket 15 Northampton THE PARADE 14 A45 O A44 A6 14 Bury A441 13 Daventry A428 M5 St Neots 13 St Edmunds L town to Birmingham New Street (19 mins), which in turn provides A435 16 Cambridge A428 L A483 6 A46 Stowmarket A44 12 S A A442 Q A429 15 UE P A14 direct connections to London (81 mins). Sutton Coldfield railway Worcester 12 A43 EN N A428 11 S A 7 A11 T A134 R D Bedford A A4112 M1 station is located within a 5 minute walk of the property. A4103 M11 D R A470 A508 A46 A5 10 E D Great A10 A438 A438 Newport Biggleswade Haverhill Malvern A44 Banbury A6 Evesham Pagnell A505 9 A438 11 Sudbury 14 A43 A1 Royston A134 Birmingham International Airport is located 14 miles (22.5 Hereford 8 A422 A421 Saffron 1 A44 Milton 13 Walden A12 10 A505 A46 Keynes Letchworth A131 km) south east of the town, providing regularA470 domestic and 2 9 Tewkesbury A479 A465 9 A43 12 D M50 Hitchin R international flights. 10 Leighton A5 A120 M5 A44 8 D Buzzard 7 N A120 A49 4 3 10 M1 UPPER H LA 2 Braintree OL M40 A1(M) STANSTED GLOUCESTERSHIRE Luton 1 Stevenage 7 Colchester Cheltenham Dunstable 11 A602 A133 A40 11 Bicester 5 8 Gloucester A41 Bishop's A120 A40 9 A 10 A10 A34 LUTON Welwyn Stortford A130 A470 A40 A131 Abergavenny A436 6Garden Aylesbury 9 City Ware Witham A12 A417 A40 Kidlington 5 Merthyr A465 Witney Tring Hemel Hertford M11 12 A429 St A40 A41 4 Harlow Tydfil A40 Hempstead Hatfield A4042 Oxford 8 Albans Maldon A413 M10 3 Chelmsford 13 Stroud A40 Berkhamsted Hoddesdon7 A48 7 1 2 Aberdare 8 A418 Thame A414 M5 A419 Cirencester 7 A4010 22 Pontypool A449 Amersham 20 24 M25 25 26 A12 A130 19 5 A420 Abingdon High Watford Cwmbran 6 18 Barnet Enfield 5 5 Wycombe 4 Chigwell Chepstow CATCHMENT AND LOCAL ECONOMY17 A10 14 A419 M11 28 Rayleigh 2 Didcot M40 Beaconsfield A12 Brentwood 4 2 A127 25 M48 3 M1 A406 4 A470 26 24 1 A433 2 29 27 23 Marlow A127 Basildon Pontypridd 1 Southend-on-Sea Caerphilly Newport 21 A40 Harrow A41 28 M4 22 1 M25 A13 Swindon A406 Sutton Coldfield isA429 the most affluent borough within the West The level of owner occupation in Sutton Coldfield is significantly Midlands, the second most populous area of the UK after above average ranking the town 11th of the 200 PROMIS Centres Greater London. The town has a substantial primary catchment on this measure. population, with a Primary Retail Market Area estimated at 119,000 people and is expected to see above average growth As the most affluent district in Birmingham, Sutton Coldfield in population over the period 2018-2023. benefits from high levels of household income and low levels of unemployment. The Service sector accounts for approximately Reflecting the affluent demographic profile, the town contains a 75% of total employment with manufacturing accounting for 11%. significantly above average proportion of adults of working age Reflecting the wealth in the local catchment, per capita spending categorised within the most affluent AB social group (PROMIS). levels are significantly above the PROMIS average for both comparison and retail warehouse goods. In contrast, the least affluent D and E social groups are particularly under represented. The Langley Sutton Coldfield Consortium recently outlined plans for a 5,500 home housing development on Sutton Coldfield’s The area is regarded as one of the most desirable and green belt, which will also include a new secondary school, three prestigious residential locations within central England and primary schools, a medical centre, a district centre with shops, contains eight out of the ten most expensive residential streets in café, gym, pub, retirement village and sports facilities, as well as the West Midlands. linking the site to existing greenways in Sutton Coldfield. PARADE, SUTTON COLDFIELD Sutton Coldfield RETAILING IN SUTTON COLDFIELD Sutton’s strength and resilience stems from the backcloth of an extensive and largely prosperous catchment area, in conjunction with a compact and easy to use core shopping area; convenient and reasonably priced car parking, along with excellent public transport accessibility. The town’s retail centre is focussed around Parade, Newhall Retail Park and Gracechurch Shopping Centre, which comprises circa 550,000 sq ft and attracts weekly footfall in excess of 130,000. Anchor tenants within the town include Boots, H&M and TK Maxx. The Parade, which is pedestrianised, provides a vibrant ‘high street’ offer and accommodates a broad range of national retailers including Aldi, The Entertainer, Waterstones and Card Factory. Demonstrating its commitment to Sutton Coldfield, M&G Real Estate recently announced it had enlisted the architecture firm Chapman Taylor – a regeneration specialist and renowned for its work on at St Pancras International, Heathrow’s Terminal 2 and 5’s retail section, Brent Cross shopping centre in London and MediaCityUK in Manchester – to draft conceptual plans for the future of Sutton Coldfield’s town centre. TRESSPASS GRACECHURCH SHOPPING CENTRE PARADE, Experian Goad Plan Created: 22/05/2019 SUTTON COLDFIELD 50 metres Created By: Cushman and Wakefield Copyright and confidentiality Experian, 2019. © Crown For more information on our products and services: copyright and database rights 2019. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 DESCRIPTION The property comprises two well configured retail units arranged over ground, basement and first floors.