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Bridge of Don Retail Park Denmore Road, Aberdeen

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Bridge of Don Retail Park Denmore Road, Aberdeen BRIDGE OF DON RETAIL PARK DENMORE ROAD, ABERDEEN FOR SALE PRIME RETAIL PARK INVESTMENT INVESTMENT SUMMARY £1,150,740 Opportunity to The retail park benefits Located in the Bridge of Don is one Total passing rent Future asset acquire a prime retail from unrestricted affluent Aberdeen of the largest areas per annum management park investment in Class 1 retail consent suburb, of housing expansion opportunities Aberdeen Bridge of Don in Aberdeen 83.33% £17M of Tenants hold WAULT to expiry Comprehensive 5 of the 6 leases Strong rental Attractive a 5A1 D&B Rating 12.34 years to break refurbishment commenced in growth prospects lot size 11.5 years programme 2017 following completed in 2017 refurbishment Tenants WE ARE INSTRUCTED TO SEEK OFFERS IN EXCESS OF £17,000,000 EXCLUSIVE OF VAT, FOR OUR CLIENT’S HERITABLE INTEREST SUBJECT TO AND WITH THE BENEFIT OF THE EXISTING LEASES. A PURCHASE AT THIS LEVEL WOULD REFLECT AN ATTRACTIVE NET INITIAL YIELD OF 6.37% AFTER ALLOWING FOR PURCHASERS COSTS OF 6.28% LOCATION INVERNESS A95 ABERDEEN IS SCOTLAND’S THIRD LARGEST CITY AND THE ADMINISTRATIVE A96 A90 CENTRE FOR THE NORTH EAST OF A82 SCOTLAND. ABERDEEN AIRPORT BRIDGE OF DON A9 The city is also considered the oil capital of Europe, being the major centre for North Sea oil and gas related activities. ABERDEEN The population of Aberdeen city is approximately 223,000 people with a wider catchment population of approximately 445,000 people. A86 Located some 105 miles to the north of Edinburgh and A93 A90 100 miles to the east of Inverness, Aberdeen benefits from excellent communication links. By road, the A90 links A9 MONTROSE Aberdeen to the national motorway network, providing access to Glasgow and Edinburgh, whilst the A96 provides A12 access to Inverness and the north west of Scotland. The Aberdeen western peripheral route is currently under construction, which will provide a new city by-pass, A82 completion of the project is scheduled for late 2018. Aberdeen is one of the most prosperous cities in the UK and is consistently rated highly for its quality of life, given A9 DUNDEE its status as a global centre of excellence in both the oil and renewable industry sectors. Aberdeen has 4% of Scotland’s PERTH A90 total population and this is projected to increase to in excess A85 of 271,000 people by 2035, an increase of 20%. It is also A82 A84 home to 28 of Scotland’s top 100 companies and has average A9 earnings that are 21% above the Scottish national average. M90 M9 GLASGOW M9 Aberdeen has Home to 28 *Average EDINBURGH a wider catchment of Scotland’s earnings are of approx 445,000 top 100 9.5% above M8 people companies Scottish national BERWICK-UPON-TWEED average A7 M77 M74 *Source — Aberdeen City Council / ONS — Annual Survey of Hours and Earnings. SITUATION B979 NEWMACHAR KINGSEAT TRUMP INTERNATIONAL WHITECAIRN GOLF LINKS RESORT BALMEDIE BRIDGE OF DON IS A DENSELY POPULATED AFFLUENT B999 BELHEVIE BALMEDIE COUNTRY PARK B997 SETTLEMENT TO THE NORTH OF ABERDEEN WHERE NEWMACHAR GOLF CLUB A947 THERE ARE APPROXIMATELY 20,000 PEOPLE WITHIN THE MILLDEN ELECTORAL WARD. B997 POTTERTON A90 ABERDEEN WESTERN PERIPHERAL ROUTE B999 The A90 provides the principal road One of the major areas of redevelopment GOVAL access to Bridge of Don, however the is the current Aberdeen Exhibition A947 new Aberdeen Western Peripheral & Conference Centre site which is BLACKDOG Route will link with the existing A90 at relocating to a new facility at Dyce, some Blackdog, just to the north of Bridge of 6 miles to the west. Current proposals B997 Don, further improving access from the for the site are to deliver a new urban MUNDURNO MURCAR LINKS south of Aberdeen. environment which would incorporate DYCE B999 GOLF CLUB approximately 350 new residential ABERDEEN AIRPORT BRIDGE OF DON Bridge of Don is one of the units, a neighbourhood centre, hotels, RETAIL PARK CLOVERHILL commercial and business space as well RIVERRIVER largest areas of proposed DONDON as a new park and ride facility. MIDDLETON B997 PARK A90 ROYAL GRANDHOME ABERDEEN housing expansion A947 GOLF CLUB Given the excellent access afforded to THE ABERDEEN NEW ABERDEEN PARKWAY EXISTING within Aberdeen and it is the site via the A90, Bridge of Don also WESTERN EXHIBITION & A90 ABERDEEN PERIPHERAL CONFERENCE EXHIBITION & provides access to the Aberdeenshire ROUTE CENTRE CONFERENCE projected that there will be BRIDGE OF DON CENTRE settlements of Blackdog, Balmedie, ELLON ROAD BUCKSBURN approximately 1,000 new Pitmedden and Ellon. The Trump A96 International Golf Links Resort is located HAYTON KING STREET KINGS residential dwellings delivered A90 A96 LINKS at Balmedie, some 6 miles to the north of GOLF under the duration of the Bridge of Don. NORTHFIELD OLD CLUB ABERDEEN ABERDEEN Bridge of Don Retail Park occupies a FAIRLEY current local plan up to 2025. KITTYBREWSTER A956 MASTRICK prominent position adjacent to the A90 A96 (Ellon Road) and is accessed via a major roundabout providing access to the B999. A944 A90 A9013 A90 A93 B9077 RIVER DEE A956 New Aberdeen A new urban 1,000 New Trump International Western Peripheral environment is coming residential dwellings Golf Resort B9077 Route will link to the to Aberdeen Exhibition by 2025 is only 6 miles northA90 A90 at Blackdog & Conference centre AERIAL AECC – MIXED USE REDEVELOPMENT AND A90 NEW PARK AND RIDE BRIDGE OF DON INDUSTRIAL ESTATE ABERDEEN CITY CENTRE LEISURE BUSINESS AND DENMORE BRIDGE OF DON INDUSTRIAL LAND INDUSTRIAL ESTATE ALLOCATION A90 ELLON DENMORE ROAD ROAD BRIDGE OF DON RETAIL PARK A90 ABERDEEN NORTH AIRPORT DESCRIPTION ELLON ROAD (A90) BRIDGE OF DON RETAIL PARK EXTENDS TO 81,921 SQ FT DRIVE-THRU (7,610.46 SQ M) AND IS CAR PARK PRINCIPALLY FORMED OF TWO CAR PARK DISTINCT WAREHOUSE TERRACES AND A STAND-ALONE COSTA COFFEE DRIVE-THRU UNIT. The Park benefits from 272 customer car parking spaces and the two retail terraces have dedicated CAR PARK service yards. The north terrace is of portal steel frame construction and is sub-divided into four units. This terrace was recently refurbished and completed in October 2017, including re-cladding of all external walls, roof replacement, new shop-fronts, extended service yard area and increased customer car parking provision. Directly opposite lies the south terrace, let in its CAR PARK CAR PARK entirety to B&Q and this is also of portal steel frame construction. DENMORE ROAD 272 81,921 sq ft Car parking spaces Dedicated service yards Refurbished October 2017 A947 B997 A90 ABERDEEN WESTERN B999 PERIPHERAL ROUTE A947 RETAIL WAREHOUSE PROVISION WITHIN ABERDEEN B997 In addition to Bridge of Don Retail Park, Aberdeen B999 has the following retail warehouse schemes, BRIDGE OF DON whose locations are shown on the plan: RETAIL PARK ABERDEEN RIVER AIRPORT DON 1. BERRYDEN RETAIL PARK / 3. KITTYBREWSTER RETAIL PARK B997 CENTREPOINT RETAIL PARK Kittybrewster extends to approximately A90 Although under separate ownership, 154,078 sq ft of retail warehouse A947 these two parks lie immediately accommodation across 13 units. adjacent to each other and are Occupiers within the park are A90 effectively linked together. Berryden Carpetright, Halfords, Oak Furniture comprises approximately 74,293 sq ft Land, Staples, Tapi, SCS, TK Maxx, B&M, of accommodation let to Next, Argos, Harveys, Sports Direct, DFS, PureGym BRIDGE OF DON Mothercare and Currys. Top rents and McDonald’s. Headline rents on the stand at approximately £23.50 per sq ft. park are approximately £29.95 per sq ft. A96 Centrepoint, which extends to approximately 95,500 sq ft is anchored 4. GARTHDEE RETAIL PARK A956 by a Sainsbury’s foodstore, Mecca Garthdee comprises approximately A90 A96 Bingo, Poundland, Harry Corry, 25,000 sq ft of retail warehouse Furniture Mountain and also a former KITTYBREWSTER accommodation let to Boots and 3 RETAIL PARK Toys R Us unit. The headline rent Currys/PC World, however there is also stands at approximately £17.75 per sq ft. a 90,000 sq ft B&Q that lies adjacent to BERRYDEN the site in addition to large format Asda RETAIL PARK / 1 CENTREPOINT A96 2. BOULEVARD RETAIL PARK and Sainsbury’s foodstores. Headline RETAIL PARK BOULEVARD Boulevard comprises approximately rents at Garthdee are approximately RETAIL PARK £30 per sq ft. A944 225,212 sq ft of retail warehousing A944 ABERDEEN 2 accommodation, anchored by an A90 85,000 sq ft Asda foodstore. Additional 5. UNION SQUARE tenants include Pets at Home, Pagazzi, UNION SQUARE To the rear of Hammerson’s Union RETAIL PARK 5 Smyths Toys, Home Bargains, Wren Square Shopping Centre development Kitchens, Iceland, DW Fitness, Aldi in the city centre, there are a number A9013 and Dunelm. Headline rents are of larger retail warehouse style units approximately £19.50 per sq ft. A90 fronting the car park. These are let A93 B9077 to predominantly fashion tenants, RIVER including Next, Outfit, M&S, Superdry DEE and JD Sports. Headline rents stand at approximately £35 per sq ft. A956 GARTHDEE RETAIL PARK 4 B9077 A90 TENANCY & ACCOMMODATION AREA UNEXPIRED NEXT TENANT RENT RATE START EXPIRY BREAK COMMENTS (SQ FT) TERM (YRS) REVIEW Rent is capped at £463,714 B&Q plc £420,000 £10.50 39,998 09/10/1981 24/12/2024 6.46 25/12/2019 - pa at review. 5,000 sq ft mezzanine floor which is not rentalised. 5 Marks & Spencer plc £203,426 £18.53 10,985 25/10/2017 24/10/2037 19.3 25/10/2022 - yearly reviews to lower of OMV or passing rent x 1.1314. Carpetright plc £133,059 £17.00 7,827 01/11/2017 31/10/2032 14.32 01/11/2022 - 5 yearly reviews to OMV.
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