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PROMINENT HIGH STREET RETAIL INVESTMENT 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA

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PROMINENT HIGH STREET RETAIL INVESTMENT 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 1 PROMINENT HIGH STREET RETAIL INVESTMENT 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA \ 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 2 EXECUTIVE SUMMARY Prominent corner position in the heart of the town centre. Close to the main shopping centres and immediately opposite the Market Hall. Multi-let with tenants including Coral Racing and Game Retail. Rent passing £65,000 per annum. 5,680 sq ft (527.70 m²). Freehold. Offers are sought in excess of £620,000 (Six Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10%, after allowing for purchasers costs. 21 2 20 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 3 3 6 19 5 LOCATION 4 18 2 MIDDLETON 4 19 OLDHAM 17 3 20 HIHER 2 BLACKLEY 16 PRESTWICH 21 15 14 BLACKLEY 22 WARDLEY RUMPSALL Oldham is a large town located within the TYLDESLEY MOSSLEY MOSTON SWINTON FAILSWORTH PENDLEBURY HARPURHEY wider Greater Manchester conurbation and lies WORSLEY HEETHAM HILL ASTLEY NEWTON HEATH 13 approximately 7 miles north east of ManchesterLEIGH A580 12 A579 MILES PLATTING 1 MONTON M602 ASHTON-UNDER-LYNE 2 SALFORD and 5 miles south east of Rochdale. The town 12 CLAYTON STALYBRIDGE ECCLES 23 3 DROYLSDEN MANCHESTER DUCKINFIELD 11 OPENSHAW ARDICK has a resident population of 96,555 persons M62 TINTWISTLE 23 GLAZEBURY ABBEY HEY TRAFFORD PAR HULME (2011 Census). LONGSIHT GORTON 10 HOLLINGWORTH PADFIELD OLD TRAFFORD GORTON HADFIELD A57 9 24 4 M6 MOSS SIDE RUSHOLME 3 A579 CULCHETH FIRSWOOD It benefits from an excellent transport infrastructure, with HALEY URMSTON RANE IRLAM STRETFORD GLOSSOP both junctions 21 and 22 of the M60 approximately 3 miles to FLIXTON A6010 REDDISH 22 FALLOFIELD BROADBOTTOM 8 the south west. In turn, this provides swiftCROFT and direct accessM62 to 7 11 CARRINGTON CHARLESWORTH HEATON HAPEL WITHINTON WOODLEY the M61, M66 and M56 motorways. In addition, the A627(M), BURNAGE 25 RISLEY WEST DIDSBURY CHISWORTH CADISHEAD SALE 6 10 BREDBURY 9 HEATON MOOR which connects directly with the M62, lies approximately 2 CHADDERTON WAY A671 21a 26 M62 A5103 PARTINGTON DIDSBURY A34 BIRCHWOOD A56 miles to the north west.8 HEATON MERSEY 27 COMPSTALL TESCO 5 ROMILY BROOLANDS NORTHENDEN STOCKPORT 1 STOCKPORT M6 M60 A57 WEST MARPLE BRIDGE Following the recent expansion to the Greater Manchester TIMPERLEY CHEADLE WARBURTON ROCHDALE ROAD M60 HEATH A560 SHARSTON 2 BROADHEATH INDUSTRIAL AREA BAULEY 1 21 Metrolink system, the town now benefits from a direct rail TIMPERLEY MARPLE 2 ROUNDTHORN CHEADLE OFFERTON DUNHAM INDUSTRIAL ESTATE MELLOR LITTLE HAYFIELD connection from Rochdale in theWARRINGTON north to Manchester city MASSEY M56 ALTRINCHAM WYTHENSHAWE ST MARY’SA34 WAY centre in the south west, both of which are approximately 30 4 LYMM THE QUEENCHEADLE HALE MARPLERIDGE ELIZABETHHULME HAYFIELD minutes’ journey time away. BOWDON HALL HAZEL GROVE BIRCH VALE 5 OLDHAM COLISEUM OLDHAM COLLEGE OL1 3AA THEATRE HEALD GREEN M I D D L E T O N R O AHALE D BARNS In addition, Manchester International Airport is within a 25 BRAMHALL HIGH LANE NEW MILLS EDALE Y O R K S H I R E S T R E E T 8 6 A669 minute drive time. 7 M56 NEWTON Manchester Airport SPINDLES TOWN SQUARE HIGH LEGH ASHLEY SHOPPING CENTRE A555 9 HANDFORTH POYNTON 20 FURNESS VALE WOODFORD A62 M6 GALLERY OLDHAM LACEY REEN 10 UNION STREET SAINSBURY’S OLDHAM SIXTH FORM COLLEGE O L D H A M W A Y Oldham 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 4 SITUATION The property occupies a prominent position on the corner of Henshaw Street and Albion Street, in the heart of the town centre. The town centre retail provision is anchored by two connected shopping centres, Town Square and Spindles. Together these provide one of the largest covered retail areas in Greater Manchester and are home to occupier such as Debenhams, Next, H&M and Boots. The subject property is within a 2 minute walk of the Town Square and Spindles shopping centres. In addition, it is immediately opposite the Market Hall, home to the six day a week Tommyfield Market as well as three further open markets on Monday, Wednesday and Saturday. Experian Goad Plan Created: 16/06/2016 50 metres Created By: Metis Real Estate Advisors Ltd Copyright and confidentiality Experian, 2016. © Crown For more information on our products and services: copyright and database rights 2016. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 5 DESCRIPTION ACCOMMODATION The property comprises a prominent corner We have measured the property in accordance with the RICS Code of Measuring Practice (6th Edition) and can confirm that the property has the following approximate block located at the juncture of Henshaw Net Internal Areas: Street and Albion Street. It provides retail accommodation over basement, ground Unit Tenant Area Sq Ft M² and first floors. 20/24 Henshaw Street Coral Racing Ltd Basement 2,083 193.52 Ground 1,681 156.17 20/24 Henshaw Street Game Retail Ltd The basement accommodation comprises (ITZA) (1,334) (123.45) self-contained retail accommodation and is currently Ground 95 8.83 fitted out as a bookmakers. It benefits from entrances 37 Albion Street M Hussain from both Henshaw Street and Albion Street. First 1,821 169.18 The ground floor retail accommodation is accessed Total 5,680 527.70 directly from Henshaw Street and benefits from a return frontage along Henshaw Street and into Albion Street. There is additional access into the rear storage area for loading. The first floor is separately accessed via an entrance on Albion Street and is currently fitted out as a restaurant. 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 6 TENANCY The property is let in accordance with the following Tenancy Schedule: Demise Tenant Lease Start Lease Expiry Break Option Rent Review Rent pa 20/24 Henshaw Street Coral Racing Ltd 17 April 2010 16 April 2020 - - £16,000 Game Retail 20/24 Henshaw Street 14 June 2015 25 June 2020 31 May 2018 - £40,000 Limited 37 Albion Street M Hussain * 19 April 2016 18 April 2019 - - £9,000 £65,000 COVENANT For the last three accounting periods Game Retail Limited (Co. No. 07837246) have reported the following figures: Year Ending 25/07/15 26/07/14 27/07/13 £’000’s £’000’s £’000’s Turnover 651,828 644,664 455,877 Pre-Tax Profit 23,888 -14,235 -17,289 Shareholders Funds 70,317 70,382 -40,184 For the last three accounting periods Coral Racing Ltd (Co. No. 541600) have reported the following figures: Year Ending 27/09/14 28/09/13 29/09/12 £’000’s £’000’s £’000’s Turnover 668,107 628,179 603,447 Pre-Tax Profit 56,703 81,627 101,348 Shareholders Funds 299,218 239,345 201,515 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 7 MORE INFORMATION Tenure Freehold. VAT VAT will be payable on the purchase price and it is anticipated that the sale will be dealt with by way of a transfer of going concern (TOGC). EPC A full copy of the EPC report is available upon request. 22/24 Henshaw Street & 37 Albion Street, Oldham, OL1 3AA 8 Proposal Offers are sought in excess of £620,000 (Six Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10%, after allowing for purchasers costs. Further Information For further information please contact: Martin Hamer 0161 833 9991 07792 00 44 67 [email protected] MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Edwards & Co nor any of its employ- ees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents ad prices quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or \ condition or that it is capable or fulfilling its intended function. Prospective tenants/purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Designed: December 2016 DS.Emotion — www.dsemotion.com.
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