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The Outlet Centre for Newcastle

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The Outlet Centre for Newcastle THE OUTLET CENTRE FOR NEWCASTLE SAVE CLOSE An established retail and leisure destination… 2 ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS SAVE CLOSE INVESTMENT CREDENTIALS A well-established retail investment Approximately 135,521 sq ft (12,590 sq m) with 740 parking spaces Highly populated catchment Access to over 500,000 people within a 20-minute drive -time, rising to 2.5 million within a 60-minute drive-time High annual footfall Attracting over 1.4 million visitors International and national tenant line-up Tenants include Clarks, Nike, GAP, Poundland, Next, The Body Shop, Subway and Costa Affordable rents Estimated average centre effort rate of less than 13% A responsive asset-class Numerous opportunities to exploit the strong performance of sports and outdoor brands whilst pursuing new sources of growth through retail and leisure initiatives High yielding investment opportunity Estimated current net income in the region of £1,191,310 ROYALFESTIVAL QUAYS PARK OUTLET | EBBW CENTRE VALE NORTH | NP23 SHIELDS 8FP 3 3 SAVE CLOSE FACTORY OUTLET RETAILING A highly successful retailing format for customers, retailers and investors. £ £ £ CUSTOMERS RETAILERS INVESTORS Broad range of branded Modern shopping Low occurrence of merchandise environment overrenting Energising retail format Aligned interest with Active asset management landlord Value orientated offer Sales growth feeds High degree of brand through to rent protection A responsive asset class… “The factory outlet sector is rapidly establishing a reputation as a defensive yet responsive subsector and is increasingly attracting new entrants.” 4 ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS SAVE CLOSE HIGHLY POPULATED CATCHMENT WITH LOCAL STRENGTH NEWCASTLE UPON TYNE Royal Quays Outlet Centre (“Royal Quays”) is located in North Shields, North Tyneside, a commercially strategic location, situated approximately 5 miles (8 km) to the east of 295,800 Newcastle City centre and 0.6 miles (1 km) to the west of the Port of Tyne International total population Passenger Terminal. 71% economically active LONDON 17m visitors Population to grow in 2015 by 1.5% by 2022 0.9% 59% employment growth to March 2018 aged between 20 and 64 A189 £140 Blyth total weekly comparison spend A1 per household KEY DEVELOPMENT INITIATIVES A696 Low unemployment North Tyneside Local Plan 2017 A19 of 3% Potential 8,838 additional homes by 2032 A69 Source: CACI Newcastle (40-minute catchment) Upon Tyne Murton Killingworth Sunderland Gap Moor Chester 3,000 homes 2,000 homes -le-Street A19 1,000 sq m retail 500 sq m retail 17 ha employment land Drive-time Population Durham (2017) / education facilities 20 mins 0.6 million 40 mins 1.6 million Stockton 60 mins 2.5 million -on-Tees ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS 5 SAVE CLOSE R U E E N D S T R EE North Shields... LOCATION & T SYSTEMAX COMMUNICATION a well-connected commuter town Royal Quays is well located in North Shields, A 1 approximately 5 miles (8 km) east of Newcastle Whitley Bay City Centre and 9 miles (14 km) North of the City of Sunderland. Newcastle Meadow International Well The Scheme is positioned strategically 0.6 miles Percy (0.5miles) A 8 (1 km) to the east of the A19, which provides the RO 1 Main 105 ET 9 A A (0.6miles) North 6 M 9 R only road access across the Tyne to the east of 6 A Shields E W Newcastle’s City centre. TYNE A ND Gosforth The A19 provides access north to the A1, which 20 min drive leads directly to Edinburgh approximately 122 22 min drive 1 8 Port of A 05 miles (196 km) along the Northumberland Coast. A1 Tyne A Wallsend 16 7 South To the south, the A19 links with the A194 and Shields from there the A1(M), giving access to the wider A Newcastle Jarrow 1 motorway network. upon Tyne 9 Newcastle Locally, North Shields is easily accessible via the Central Tyne and Wear Metro network, which provides A1 8 4 regular services running through North Tyneside to 24 min drive A1 4 9 Gateshead 1 South Tyneside, Newcastle City Centre, Newcastle 4 A A 9 1 6 0 A Airport, Gateshead and Sunderland City Centre. Whickham 1 A184 East Boldon 8 Newcastle’s International Airport is the largest in A A194(M) the North East and is located 13 miles (21 km) 1 A 1 2 9 9 to the North West of Royal Quays. The airport is 6 A a significant economy driver, contributing £1.16 GTON IN WAY S ES billion into the regional economy every year and Lamesley W A1 supporting 3,450 on site jobs and a further 15,425 A1231 across the region (Source: Newcastle International Sunderland Washington Airport). A 1 A1(M) 9 6 ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS SAVE CLOSE Over 400,000 sq ft of local retail and leisure s critical mass .5 mile 9 1 A1 < COB LE D EAN CO BL E D EAN Growing leisure critical mass… H Whilst Royal Quays offers an established 0.5 mile A retail centre with a range of comparison Y H and convenience shopping, it also occupies O L a strategic position in the heart of a growing E R leisure destination. O A In addition to a broad choice of established adjacent D leisure attractions including a bowling alley, gym, water park, marina and hotel, further complementary attractions are proposed. The adjacent property of approximately 155,000 sq ft, situated to the south east, is proposed to be opened as a five-a-side football complex and multi-use activity centre. Proposed five-a-side Royal Quays has established its own leisure success with the football complex and c.20,000 sq ft “Kidz Kingdome” attraction, comprising a trampoline multi-use activity centre. Royal Quays is perfectly positioned to benefit from the leisure centre. location’s growing reputation for leisure with the introduction of further family attractions. ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS 7 SAVE CLOSE ROYAL QUAYS OUTLET CENTRE Opened in 1996 and remodelled in 2001, Royal Quays comprises an established 44 factory outlet centre with a broad range of Get me a kitchen me a Get value orientated merchandise. The centre bathroom me a Get is arranged with open paved malls around 1 2 3 4/5 6 41 42 43 7 46 47 49 a broad circuit configuration. 45a 38 The malls are easily accessible through 8 37 45b 48 two principal entrances from the parking 36 facilities to the north and east of the centre. 51 50 34/35 53 The centre comprises 51 units and is 33 54 52 anchored by Nike, Next, Poundland and 32 55 31 GAP. The largest occupiers are strategically 30 9-12 29 28 positioned throughout the centre to 27 26 promote customer flow. Central areas SOFA 13 25 within the scheme have been laid to lawn 14 with mature planting and benches which 24 creates an attractive village aesthetic and 15 focal point within the centre. 23 16 Free parking is provided immediately 135,521 sq ft adjacent to the north and east of the across 51 units 17 scheme for approximately 740 cars. 22 126,821 sq ft 18 of retail 8,700 sq ft of food and beverage 20/21 19 2,710 sq ft 18b average unit size 740 free parking spaces 8 ROYAL QUAYS OUTLET CENTRE NORTH SHIELDS SAVE CLOSE Notes Rev Description Date By Subway Centre for Advanced Industry ROTARY WAY HOWDON TENURE OUTLET LEASE ROAD COBLE DENE Redburn Dene STRUCTURE FB The buildings and car park are held freehold. 39 PC 40 Whilst the terms of individual agreements vary throughout 41 LB COBLE DENE The area shaded blue comprises an area demised to 38 44 1 El Sub Sta Royal Quays, leases typically comprise the following key 6 North Parade Premier Inn Ltd until 2121 including exclusive rights over 45 33 TCB 7 1 54 components: 50 that proportion of the car park. 8 28 South Parade 25 El Sub Sta 24 PC The “Kidz Kingdome” leisure facility is leased to Ensco Limited Dene Walk Rent DW 17 for a term of 15 years (the “Ensco Lease”) which is, in turn, El Sub Sta HAYHOLE ROAD 21 20 Tourist Mast Infomation Office 19 sublet to the ultimate leisure operator, Funderworld Limited Rents comprise a combination of Base and Turnover Rent with Turnover Rent representing a prescribed percentage Depot for a term of 10 years from June 2018 (the “Funderworld (disused) Sublease”). The Ensco Lease is expected to be surrendered of the tenant’s turnover. The total rent payable by a tenant El Sub Sta whilst the benefit of Funderworld Sublease is expected to comprises the greater of Base Rent or Turnover Rent. be assigned byN Ensco Limited to the ultimate purchaser of 1:1000 Service Charge 0 10 20 10 the40 50m freehold100m interest.150m Path (um) For indicative purposes only This drawing is copyright. All dimensions and details are to be verified on site. Any discrepancies are to be notified to the Architect prior to work commencing. Do not scale from drawings. Content EXISTING SITE PLAN Client North Shields Investment Properties Ltd Project Royal Quays Proposed Leisure and Retail Project 6 Manor Place, Edinburgh, EH3 7DD [email protected] Date 03.09.18 Drawing Scale 1:1000@ A1, 1:2000@A3 www.covellmatthews.co.uk t:0131 226 3366 Service charges are typically recovered from tenants on a Ordnance Survey, (c) Crown Copyright 2015. All rights reserved. Licence number 100022432 Paper size A1 Drawn by Checked HB - Project Code 801 Drawing No. SK16 Revision -- pro rata basis, according to floor space occupied.
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