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SWADLINCOTE – Brunel Way, Church Gresley, DE11 9JT Castleton Park Neighbourhood Centre

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SWADLINCOTE – Brunel Way, Church Gresley, DE11 9JT Castleton Park Neighbourhood Centre CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE SWADLINCOTE – Brunel Way, Church Gresley, DE11 9JT Castleton Park Neighbourhood Centre NOW FULLY LET & WITH REDUCED PRICE TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE INVESTMENT SUMMARY Situation The site is located fronting Brunel Way at its junction with Glamorgan Way, immediately adjacent to the Gresleydale Healthcare Centre which caters for approximately 9,000 Brand new Neighbourhood Retail Centre completed July 2012. patients, and houses a Manor Pharmacy. Fully let retail investment with approximately 46.5% of the income secured to SAINSBURY’S SUPERMARKETS LTD. Brunel Way is the main spine road through the new David Wilson Homes led development of Castleton Park. This is a 1,000 dwelling extension to the south of Church RPI linked review pattern on Sainsbury’s Lease. Gresley which itself sits to the south of Swadlincote Town Centre. Total income of £91,500 pa 67.22% of income secured to national retailers. Freehold. Strong position within the heart of the new 1,000 home Castleton Park extension to Church Gresley. £1,250,000 (one million two hundred and fifty thousand pounds) reflecting a net initial yield of 6.92%. Location Swadlincote is located approximately 3.5 miles (5.6 km) southeast of Burton-upon-Trent and about 10 miles (16 km) south of Derby. It is the main town of South Derbyshire and the seat of South Derbyshire District Council. The population of Swadlincote and its surrounding villages is approximately 33,000. Brunel TRAFFORD Way is the main OLIVER spine road through the new David Wilson Homes T: 0115 9598848 led 17 development Regent Street, of Castleton Park. This is a 1,000 dwelling extension to Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE Description & Accommodation The plan below shows the property being offered edged in green and shown in context The site, which is largely rectangular in shape, extends to approximately to the overall estate (edged red) including the Health Centre, which is being retained by 0.481 acres (0.19 Hectares). The property has been developed to provide a the vendor. The area hatched purple shows the common parts of the estate. Sainsbury’s Local convenience store and 3 retail units all on ground floor only within a small parade. There is a shared rear service/delivery area which also accommodates a shared bin store. There are 10 staff car parking spaces which are demised with the individual units. 12 customer parking spaces are situated at the front of the development. There are a further 54 spaces available to the front of the site, which are not included within the demise, but which offer shared customer parking with the Health Centre. Practical Completion of the development was achieved on 2 July 2012. Detail of the accommodation provided is shown in the Schedule below. TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE Tenancy Schedule Area Rent Term Break Lease Rent free Unit Tenant Lease End Reviews Comments (sq ft) (£ pa) Years (year) Start period RPI at yrs 5 & 10 with cap 1 Sainsburys Supermarkets Ltd 4,000 42,500 15 10 26/07/12 25/07/27 3 months & collar of 3.5% & 1% Starfish (Church Gresley) Ltd Upward only 2 1,000 15,000 15 n/a 26/07/12 25/07/27 16 weeks 3 month rent deposit t/a Church Gresley Fish Bar 5 yearly to OMV Upward only 3 Barnardo’s 1,000 19,000 10 n/a 26/07/12 25/07/22 6 months year 5 to OMV Mr Bablu Hussain And Mr Akoddus Upward only 4 Ali (to t/a Spice Touch Indian Res- 1,000 15,000 15 n/a 18/01/13 17/01/28 6 months 3 month rent deposit 5 yearly to OMV taurant & Takeaway) TOTAL 7,000 91,500 Income Service Charge The overall income is £91,500 per annum. If one assumes that the RPI grows at There is a service charge in relation to the external areas such as bin stores, anStephenson average of 3.5% Drive, per Leicesterannum over LE3 the 9AEterm of Sainsbury’s Lease the rent service yard, & parking/landscaping within the development. There is an would increase to the following: additional service charge in relation to the main parking and access areas that are shared by the property and the Doctors Surgery and Pharmacy. Further Year 6: Sainsbury’s - £50,477 pa Total - £ 99,477 pa information, along with copies of the budgets, is available on request. Year 11: Sainsbury’s - £59,951 pa Total - £108,951 pa Planning Tenure South Derbyshire District Council granted Planning Permission for the Freehold, subject to the tenancies described. development in November 2011 (Planning Reference: 9/2011/0773/NO). The consent allows for a mix of uses to include A1 (retail), A1/A2 (retail/office) and a single A5 (hot food takeaway). A subsequent consent was granted in November VAT The property has been elected for VAT and VAT will be charged upon the sale 2012 (Planning Reference: 9/2012/0792/U) permitting a valuable Change of Use price. on Unit 4 to Class A3 and A5 uses. TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE Covenant Information Unit 4 – 16.39% of income is let to Mr Bablu Hussain and Mr Akoddus Ali (to Sainsbury’s Supermarkets Ltd - Company No. 03261722 – 46.45% of income trade as Spice Touch Indian Restaurant & Takeaway). Nearly half the income comes from Sainsbury’s Supermarkets Ltd, one of the top four food retailers in the UK and one of the most attractive and secure Covenants These two gentlemen are involved in the running of a number of Indian Res- in the market. For the year ended March 2012, Sainsbury’s Supermarkets Ltd taurants & Takeaways and own related property within the wider Midlands reported: Region. Further information can be provided upon request. Turnover £24,511 million Pre-tax profits £ 799 million Net assets £ 5,629 million Barnardo’s – Company No. 00061625 – 20.77% of income Barnardo’s was founded in 1867 and is the UK’s leading childrens charity. For the year ended 31 March 2012, Barnardo’s reported: Total income £ 254.2 million Total expenditure £ 240.6 million Surplus £ 4.6 million Net Assets £ 16.2 million Starfish (Church Gresley) Ltd - Company No. 07795510 – 16.39% of income Starfish Restaurants was established in 1976 and is a well-known and respected regional fish & chip shop business. Starfish (Church Gresley) Ltd was incorporated on 03/10/2011 and the unit is now trading as the Church Gresley Fish Bar. TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE Location Maps TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE PROPOSAL Offers in the region of £1,250,000 (one million two hundred and fifty thousand pounds) are invited for the freehold interest, subject to the Leases as described within these particulars. A purchase at this level will reflect a net initial yield of 6.92% assuming normal purchasers costs of 5.8%. Assuming RPI growth of 3.5% per annum, applied to the Sainsbury’s Lease with it being unbroken, the return could show: Year 6 7.52% Year 11 8.24% The vendor will cover any rent free periods still outstanding at the Contact date of completion of the sale. For further information or to arrange an inspection please contact: Charles Trafford Updated January 2013 Trafford Oliver T: 0115 9598848 E: [email protected] TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk CASTLETON PARK NEIGHBOURHOOD CENTRE RETAIL INVESTMENT FOR SALE Energy Performance Certificates DISCLAIMER NOTICE: Trafford Oliver Ltd for themselves and the Sellers or the Lessors of this property, who’s Agents they are, give notice that: 1.The Particulars are a general outline of the property only for the guid- ance of intended Buyers or Lessees and do not constitute any part of an offer or a contract. 2. All descriptions, dimensions, references to condition and other details are given without responsibil- ity and may not be relied on as statements or representations of fact. Any reference to the use or occupation of the property or alterations does not imply that any necessary permissions have been obtained and any intended Buyer or Tenant must make his own enquiries. 3. Any Buyer or Tenant must satisfy himself by inspection or otherwise as to the correctness of any information provided by Trafford Oliver Ltd. 4. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to the property. TRAFFORD OLIVER T: 0115 9598848 17 Regent Street, Nottingham, NG1 5BS E: [email protected] W: traffordoliver.co.uk .
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