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Cheltenham Volkswagen Tewkesbury Road I Cheltenham I Gl51 9Ah

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Cheltenham Volkswagen Tewkesbury Road I Cheltenham I Gl51 9Ah CHELTENHAM VOLKSWAGEN TEWKESBURY ROAD I CHELTENHAM I GL51 9AH PRIME DEALERSHIP INVESTMENT 1 CHELTENHAM VOLKSWAGEN I TEWKESBURY ROAD I CHELTENHAM I GL51 9AH Investment Summary Investment Summary Location • Cheltenham is an affluent regency spa town Catchment in Gloucestershire and Demographics • Large catchment population and a key territory Situation for the manufacturers • The property comprises a modern purpose built Description dealership facility comprising 17,548 sq ft (1,630 sq m) Accommodation • Prominent site in a strategic position adjacent to a Tesco Superstore and opposite a Wickes DIY unit Site Area • Established dealership location with other brands operating in the area including Bentley, Porsche, Tenure Audi, Toyota, Ford, Vauxhall, Lexus and Aston Martin Tenancy • Let to the strong covenant of Inchcape Estates Limited (D&B 5A1) until December 2024 providing Tenant Covenant an unexpired term in excess of 6 years Information • The lease was assigned by VW Group UK Ltd in August 2016 who have total net assets in excess of UK Automotive Industry £717,000,000, providing further security of income • Current passing rent of £254,567 per annum, Investment Comparibles reflecting a sustainable £14.51 per sq ft VAT • 5 yearly rent reviews to Open Market Value • Strong alternative use residual values, subject EPC to planning Proposal • Freehold Further Information We are instructed to seek offers in excess of £3,885,000 (Three Million, Eight Hundred and Eighty Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects < > a Net Initial Yield of 6.15%, assuming purchaser’s costs of 6.53%. SHETLAND ISLANDS ORKNEY ISLANDS A99 A9 Stornoway A9 WESTERN ISLES A9 NA H-EILEANAN SIAR A835 A98 A96 A90 A96 A952 Portree Inverness A95 A9 A87A87 A82 A90 A96 SKYE ABERDEEN A87A87 A9 A86 A830A830 A90 Fort William SCOTLAND A92 A90 A82A82 A9 DUNDEE A92 A85 Perth A90 MULL A85 St Andrews A82 A84 M90 A9 A92 A91 Stirling Dunfermline M9 JURA Falkirk EDINBURGH A1 GLASGOW M8 Paisley A71 A68 A737 Berwick-upon-Tweed ISLAY A78A78 M77 A725 A702 A1 Kilmarnock M74 Galashiels A71 ARRAN Prestwick AYR Alnwick A68 A74(M) A76 A1068 A7 A1 A77 A68 A696 Dumfries LONDONDERRY A75 NEWCASTLE UPON TYNE N56 A26 A29 A69 Gateshead A6 CARLISLE A75 SUNDERLAND Stranraer A75 A1(M) NORTHERN A36 A68 A19 A595 M6 N15 Antrim A596 Durham A5 IRELAND M2 Hartlepool A505 BELFAST A66 Middlesbrough A29 A32 A66 Darlington M1 Lisburn A171 N15 A7 A19 A24 A6 A4 Armagh A595 ISLE OF A1 Sligo N16 Scarborough A28 A1 MAN N59 N54 Newry ENGLAND A64 A19 N17 A2 A65 A64 N4 A1(M) A166 LANCASTER A59 YORK A165 N2 A65 A1079 A614 M6 A59 N5 N61 N4 A64 Beverley N55 N3 M1 M58 LEEDS N52 BRADFORD HULL N60 Preston Blackburn Huddersfield M62 N17 WAKEFIELD N84 Bolton M62 Scunthorpe N55 N4 N2 A565 M1 Grimsby M3 WIGAN Doncaster M180 N63 MANCHESTER Barnsley Rotherham A46 M4 A15 DUBLIN Stockport A1(M) A16 LIVERPOOL Warrington A6 SHEFFIELD M4 M53 M56 Buxton N62 M50 A49 M6 A55 A55 M1 GALWAY Chester Macclesfield A1 A158 A515 Lincoln N65 N80 A5 A494 M7 A41 A6 STOKE-ON-TRENT A17 A16 N81 A5 REPUBLIC OF A487 A483 NOTTINGHAM A515 A52 N18 N11 A46 A148 M6 DERBY N78 A49 A41 A15 A5 IRELAND A470 A1 Kings Lynn A140 A38 A1065 ShrCHELTENHAMewsbury VOLKSWAGEN TEWKESBURY ROADA42 CHELTENHAM GL51 9AH A16 LIMERICK M9 I I A606I A458 M54 Leicester Stamford N80 A47 NORWICH Wolverhampton A458 A47 A47 A146 N24 M8 N76 M69 Peterborough A12 2 A487 Birmingham M1 A10 A11 A140 N21 Investment Summary N30 Location Solihull M6 Thetford Coventry Huntingdon A1065 N20 N24Location Wexford M42 M40 Cheltenham is an affluent regency spa town Cheltenham mainline railway station provides Northampton A140 Catchment located in Gloucestershire, approximately frequent services to London Paddington with Warwick CAMBRIDGE A12 WAandTERFORD Demographics Worcester 110 miles (177km) west of London, 48 miles a fastest journey time of 1 hour 50 minutes. Bedford A11 N72 (77km) north west of Oxford, 9 miles (15 km) There areA487 further direct links to Swindon N72 Situation Hereford M5 Banbury Ipswich east of Gloucester and 42 miles (68 km) north (1 hour), Bristol (45 minutes) and Birmingham Milton Keynes east of Bristol. (40 minutes). M11 Description M50 A131 A12 Buckingham N25 CHELTENHAM M1 N22 The town benefits from strong road Birmingham and Bristol airports are both A10 Accommodation communications being situated 3 milesA40 (5 km) situated approximatelyA40 one hour’s drive time A40 A429 M40 CORK A1(M) Colchester from Junction 11 of the M5 Motorway, which from Cheltenham. Gloucester A40 Site Area A417 Oxford is accessed via the A40. The A40 runs through A477 Chelmsford the town and provides convenient links to M5 Tenure Gloucester to the west and Oxford to the east. M25 A12 SWANSEA Newport Swindon M11 Tenancy M25 M25 Catchment and Demographics M4 Bristol M4 Reading Tenant Covenant Cardiff Information LONDON The total population within Cheltenham’s The level of car ownership in Cheltenham is Bath A28 UK Automotive Industry primary catchment area is 392,000 people significantly above average at 83% compared M26 Maidstone M2 and draws from a wide geographical area with a UK average of 74%, with a particularly M25 Basingstoke Canterbury ensuring that Cheltenham forms a key high proportion of two car households. A303 A229 M20 Investment Comparibles Guildford A24 A2 M3 M23 territory for both manufacturers and the A39 Dover The town also hosts the prestigious Cheltenham A37 Salisbury Tunbridge Wells VAT dealer network groups alike. M5 A303 Winchester A3 Racing Festival in March when the Cheltenham Taunton Folkestone The demographic profile of the local area Gold Cup is held attracting in excess of 150,000 A22 A361 A272 A21 EPC is affluent, with an above average proportion visitors each year. A350 A354 A377 A259 of people characterised in the most affluent A39 A338 M27 Proposal A386 A303 A37 Chichester AB Social Groups and per capita spending SOUTHAMPTON HOVE A27 levels above the UK average. A354 BRIGHTON Further Information CAR OWNERSHIP ABOVE A30 PORTSMOUTH A30 A35 Bournemouth UK AVERAGE EXETER Newport CATCHMENT AREA A395 A386 A39 A30 A388 < > 392,000 PEOPLE 83% A38 A380 A38 St Austell A390 PLYMOUTH Truro A30 A39 A394 ISLES OF SCILLY GUERNSEY JERSEY CHELTENHAM VOLKSWAGEN I TEWKESBURY ROAD I CHELTENHAM I GL51 9AH 3 10 Investment Summary Situation A4019 Location The property is prominently located on the Tewkesbury Road serves as the main out Catchment A4019, Tewkesbury Road, approximately of town retail location and dealership cluster and Demographics 1 mile (1.6 km) from the centre of Cheltenham for Cheltenham. Gallagher, Kingsditch M5 Situation within an established out of town retail and and Gateway Retail Parks are all in close dealership location, adjacent to a Tesco proximity to the subject property and ensure TEWKESBURY RD Description Foodstore and opposite a Wickes DIY unit. significant footfall to the location. The A4019 serves as a major arterial route In terms of other dealership provision Bentley, A4013 Accommodation through the town and provides a direct link Porsche, Audi, Toyota, Ford, Vauxhall, Lexus, to the M5 situated approximately 2.5 miles Aston Martin and Harley Davison all have Site Area (4 km) to the north west. The A4019 also representation in the vicinity. A40 provides convenient links to the A40 A40 Tenure and A4013. A40 Tenancy 11 Tenant Covenant Information UK Automotive Industry Investment Comparibles VAT EPC Proposal Further Information < > 4 CHELTENHAM VOLKSWAGEN I TEWKESBURY ROAD I CHELTENHAM I GL51 9AH Investment Summary Description Accommodation Location The property comprises a purpose built, Catchment VW CHELTENHAM recently refurbished dealership facility and Demographics incorporating showroom, offices, workshop, Sq M Sq Ft parts and ancillary accommodation located at Situation GROUND ground and first floor level providing a total Description GIA of approximately 17,548 sq ft (1,630 sq m). Showroom 410 4,418 The property is principally of steel portal frame Showroom Offices 43 465 Accommodation construction incorporating glazed and clad elevations below a part pitched, part flat steel Workshop 427 4,593 Site Area roof structure. Parts 70 758 Internally, the property is fitted to a high Tenure Ancillary 119 1,283 specification throughout, including a ceramic Tenancy tiled floor to the showroom which provides Handover 47 505 display spaces and extensive lighting. Adjacent Tenant Covenant to the showroom is a customer waiting area, GROUND TOTAL 1,117 12,021 Information offices and WC’s. FIRST The workshop and parts department are First Floor Offices 272 2,926 UK Automotive Industry situated to the rear of the showroom with further office accommodation, staff facilities Ancillary 99 1,061 Investment Comparibles and storage space situated at first floor level. Parts 143 1,540 VAT Externally, the property benefits from extensive road frontage with a mix of customer, display FIRST TOTAL 513 5,527 and storage spaces. There is further a secure EPC TOTAL 1,630 17,548 compound area to the rear of the property. Proposal CAR PARKING NO. OF SPACES Further Information Display 80 Customer/ Service 32 Storage 50 < > 5 CHELTENHAM VOLKSWAGEN I TEWKESBURY ROAD I CHELTENHAM I GL51 9AH Investment Summary Site Area Tenant Covenant Information Location The site area comprises approximately 1.54 Inchcape is one of the UK’s leading franchised retailer groups partnering Catchment acres (0.62 hectares). with many of the world’s best known brands including VW, Audi, BMW, and Demographics Jaguar, Land Rover and Mercedes-Benz. Situation The Inchcape group was floated on the stock exchange in 1958 and became a PLC in 1978. The company has seen significant growth and now Description Tenure operates in 32 national markets globally with an annual revenue of £8.9bn. Accommodation Inchcape Estates Limited (company number 293551) has a Dun The property is held Freehold.
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