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Currys PC World & Carpetright Currys PC World & Carpetright Seamer Road, Scarborough, YO12 4HE RETAIL WAREHOUSE INVESTMENT CLICK TO ENTER Investment Location & Situation & Description Planning & Tenancies, EPC, VAT, Summary Demographics Retail Warehouse Tenure Tenants’ Covenants & Price & Seamer Road, Scarborough Provision Asset Management Contact Details RETAIL WAREHOUSE INVESTMENT Investment Summary • Scarborough is a popular seaside town in North Yorkshire, • The property boasts a captive catchment with the nearest • Total rent of £412,000 per annum, reflecting an average rent of 41 miles north east of York. competing centre, York, being around an hour’s drive away. £14.22 per sq ft. • The town is the largest holiday resort on the Yorkshire coast, • Modern 2 unit scheme totalling 28,970 sq ft. • Asset management potential. with tourism providing an additional £470 million to the local economy annually. • Let to the secure covenants of DSG Retail Ltd and Carpetright plc. • We are seeking offers in excess of £5,725,000 (Five Million, Seven Hundred and Twenty Five Thousand Pounds), subject to • The subject property is located in a prominent and visible • Bulky goods planning consent. contract and exclusive of VAT. A purchase at this level reflects position adjacent to the A64, the main route into Scarborough, an attractive net initial yield of 6.75%, assuming purchaser’s in the main retail warehouse pitch for the town. • Lease expiring in March 2023. costs of 6.62%. Investment Location & Situation & Description Planning & Tenancies, EPC, VAT, Summary Demographics Retail Warehouse Tenure Tenants’ Covenants & Price & Seamer Road, Scarborough Provision Asset Management Contact Details RETAIL WAREHOUSE INVESTMENT 16 ore 17 18 uries A74(M) 19 NEWCTLE 20 Wiley ay NEWCASTLE UPON TNE CRLILE Gateshead ranraer 44 NERLN Carlisle 43 42 ura M6 41 A1(M) arleool Penri Workinon 40 Alebyin Redcar Westmorland MIDDLESROUH Wieaven Location arlinon Scarborough is a popular seaside town on the North Sea coast of North Yorkshire. The town is located Wiby TEEIE 41 miles north east of York, 46 miles north of Hull, 48 miles south of Middlesbrough and 68 miles 38 north east of Leeds. SCAROROUH Scarborough benefits from excellent road communications, being situated on the intersection of the A171 A171, A164, A170 and A64, which provide easy access to York, Hull, Middlesbrough and Leeds, as well Kendal Noralleron 37 A1(M) as the M62 and A1(M) motorways. M6 Scarborough railway station provides direct access to York and Leeds, with journey times of 48 Tirsk A170 36 Pikerin minutes and 1 hour 14 minutes respectively. From both these stations, there are regular trains to lerson iley A64 London. A165 Rion Leeds Bradford Airport is situated 70 miles south west, providing internal flights, as well as flights to arroinurness 35 alon European and worldwide destinations. oreabe Bridlington 34 A1(M) eysa Lanaser Knaresborouh M6 Driffield 33 arroae YORK Fleetwood Ilkley Demographics Oley Scarborough has a catchment population of 147,000 people, with Experian estimating there are LEE Tadcaster arke Clieroe ROR 60,932 people living within a 10 minute drive time of the subject property, extending to 82,749 people 14 inley 13 Colne Weion everley lakool 12 Nelson within a 20 minute drive time. 3 32 Padiham LEEDS 4 M55 1 arorh Preson M65 8 10 urnley RADFORD elby 31 7 M621 Scarborough is the largest holiday resort on the Yorkshire Coast. In 2012, the town attracted 6 rinon M62 lakburn alia HULL Lya nne's 30 approximately 1.4 million overnight visitors and 6.5 million people on day trips, spending over £470 29 9 Todmorden M62 Casleord Leyland 28 oole million. In addition, the impact of tourism generated a further £187 million to the local economy, giving aren Raensall 8 ouort Wakefield M18 an overall increase of 7% from 2011. Retail in Scarborough benefited from 25% of the total spend. M6 Corley Rochdale M62 1 22 Huddersfield M181 Iina ury M66 21 Torne unore The retail spend per person in Scarborough is above the UK average for household textiles and 27 M61 2 risby Orskirk olon 20 SkelmersdaleStandish6 3 19 M1 M180 Cleeores household goods including white goods. This has a direct positive impact on the retailers at the Forby 5 4 4 3 5 3 17 subject property, particularly Currys PC World. The spend per person within the population averages M58 Wian M6015 1 25 14 7 Kirkby £2.34 and £0.17 on household comparison goods and household services i.e. repairs to appliances, 24 6 5 23 compared with the UK average of £2.06 and £0.13, respectively. 4 1 3 22 M62 6 LIERPOOL 3 11 MNCETER 2 9 1 4 5 M62 9 M60 2 7 ainsborouh 5 EIEL Lou 3 20 6 Holyhead Presayn ebinon 7 31 Ryl 4 MNCETER Llandudno 11 M5610 Reord Colyn ay M53 19 5 12 M1 Cony 8 berele Ellesere 9 30 Port 10 14 uon lin Ceserfield anor 16 M6 Macclesfield Linoln 12 18 29 Ceser 17 Mansfield alok Leek 28 Cree Neark 16 onTrent Nani 27 TOKEONTRENT sbourne 26 oson Investment Location & Situation & Description Planning & Tenancies, EPC, VAT, Summary Demographics Retail Warehouse Tenure Tenants’ Covenants & Price & Seamer Road, Scarborough Provision Asset Management Contact Details RETAIL WAREHOUSE INVESTMENT Situation The subject property is situated in a prominent and visible location approximately 1.5 miles south of the town centre immediately adjacent to the A64 Seamer Road. The A64 is a major arterial road and provides direct access to the town centre to the north and to York to the south. The subject property is situated in close proximity to the dominant retail park in the town - Seamer Road Retail Park. This pitch forms the principal retail warehouse destination for Scarborough. The surrounding area around the subject property provides a mixture of car showroom, building depots and residential accommodation. E A B N 1 1 I 3 7 V 6 1 A 4 R S S C U A B L B M Y U L R O O C A AD D O R E L Town Centre T S A C D R E Retail Warehouse Provision N OR R TH O W H A A S 17 Y E 1 SC R ALBY D O F R D R IA R O AM ST T WYKEH A Scarborough is relatively under supplied in terms of retail warehousing, with the total C S I 1 T R V 6 E 5 D D P R S EY N L floor space estimated at 264,000 sq ft (PROMIS), significantly below the PROMIS D A L N E A Y 1 V A L 7 4 D 6 D 1 A O R O average in terms of overall provision per household. Most goods categories are W 70 A1 STEPNEY RD relatively under-represented in the town, particularly fashion and furniture/furnishing 0 7 1 goods. A D VALLEY R S A N D Y B E Scarborough has a captive catchment due to its distance from competing retail D L N SCAROROUH centres. The closest competing towns are Middlesbrough, York and Hull, all over D R R A R M L an hour’s drive away. As a result, Scarborough retains the majority of the retail E S L I M IDE H H S A T I N L E U Y O L warehouse spend from within its catchment. Currys PC World S E M R N 4 D P H 6 W E O A E T & Carpetright D L A R B P S EC S O ’ T N K Seamer Road E E H R S I The main park is Seamer Road Retail Park, located approximately 400 metres A L S L G D R A R M south of the subject property. This scheme provides approximately 92,000 sq ft D N R SE E E UR CO U of predominantly open A1 non-food retail accommodation. The park is anchored E N Q C A L R S 70 S F A1 E IL by B&Q, with other units let to Halfords, Next Home, Brantano, Pets At Home and B427 N E O N Y E L P LLEG R A CO D E Dunelm. Rents currently range from approximately £11.50 to £18.50 per sq ft. A W 1 S 6 Seamer Road E 5 M A D M R E R E Retail Par R R E E L MO N M Immediately adjacent to this is a 10,000 sq ft unit occupied by B&M. TK Maxx and (,000 sq ft) A O E R S L Tenants include B&, 4 N Matalan both have standalone units close to the town centre. 6 alfords, Next ome, A Dunelm, Brantano, Pets at ome FI LE A Y R 1 D 6 5 D N R L R R E O M O A M E N S O 4 T 6 R I A O D R S S G G G O A O H D Y E B N Y O H T S A IL A 1 L Y 6 T 5 O N R D AY TW S EA Investment Location & Situation & Description Planning & Tenancies, EPC, VAT, Summary Demographics Retail Warehouse Tenure Tenants’ Covenants & Price & Seamer Road, Scarborough Provision Asset Management Contact Details RETAIL WAREHOUSE INVESTMENT Description The subject property comprises 2 retail warehouse units totalling approximately 28,970 sq ft. Both 129 car parking spaces are provided to the front of the units, giving a low ratio of 1:224 sq ft. units are of steel portal frame construction with brick and profile steel clad elevations.
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