Matalan Bromborough
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BROMBOROUGH VILLAGE ROAD BROMBOROUGH CHESHIRE CH62 7ES RETAIL WAREHOUSE INVESTMENT OPPORTUNITY ENTER RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough Offers are sought in excess of • Bromborough is strategically located on the Wirral Peninsular, between Liverpool and Chester. INVESTMENT £5,640,000 (Five Million, Six • Excellent visibility from the busy A41 New Chester Road, close to The Croft Retail & Leisure Park, Hundred and Forty Thousand which attracts 7 million visitors annually. HIGHLIGHTS Pounds), subject to contract • Standalone unit of 29,497 sq ft let to the 5A1 D&B rated covenant of Matalan Retail Ltd. and exclusive of VAT. This • £450,851 per annum rent (£15.05 per sq ft). equates to an attractive net • In excess of 8 years unexpired. initial yield of 7.50%, based on • Open A1 non-food planning consent. purchaser’s costs of 6.61%. RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough 6 5 4 ST HELENS M57 LOCATION & CATCHMENT POPULATION BOOTLE 3 WALLASEY Bromborough is one of the principal retail centres of the Wirral, being located 2 PRESCOT on the Wirral Peninsular in the North West of England. The town is 6 miles 1 LIVERPOOL HUYTON M62 8 south of Liverpool city centre across the Mersey and 13 miles north of Chester. 5 M62 7 Birkenhead is 2 miles north. HOYLAKE 2 BIRKENHEAD 6/1 M53 As a result of its strategic location, Bromborough benefits from excellent WEST KIRBY 3 communication links. The town is close to Junction 5 of the M53 motorway, WEST ALLERTON WIDNES which connects to the M56 motorway, linking to North Wales and Manchester BEBINGTON and providing access to the M6. 4 BROMBOROUGH SPEKE Liverpool RUNCORN Bromborough Railway Station is on the Liverpool to Chester line (26 minutes and John Lennon Airport 11 17 minutes journey time respectively), and from both stations trains connect to SUBJECT PROPERTY River Mersey Manchester, London and the rest of the UK. 12 5 6 7 FRODSHAM NESTON 8 Liverpool John Lennon Airport is located 15.5 miles north west and is one of the 9 M56 UK’s fastest growing airports. ELLESMERE PORT ELTON HELSBY 14 KINGSLEY The subject property benefits from being located in a highly accessible location CAPENHURST 10 with a large drive time catchment population of 91,317 people living within a 10 DUNHAM 11/15 ON THE HILL minute drive time, extending significantly to 453,630 people within 20 minutes. DELAMERE FOREST PARK M53 The top 2 Mosaic Groups within the catchment population are: CONNAH’S QUAY QUEENSFERRY 12 KELSALL CHESTER HAWARDEN people within people within Suburban Stability Senior Security a 10 minute a 20 minute Mature suburban owners living Elderly people with assets who are 91,317 drive time 453,630 drive time settled lives in mid-range housing enjoying a comfortable retirement RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough SITUATION Bebington The property is located on the western side of the A41 New Chester Road; the principal route through the town, which connects to the M53 to the The Croft Retail & Leisure Park south. The property benefits from excellent visibility from the A41 and easy 450,000 sq ft accessibility off it via Bromborough Village Road. A41 Tenants include: M&S Foodhall, H&M, Next, Superdrug, Port Sunlight JD, The Range, Sports Direct, Argos, Situated to the north of the subject property is The Croft Retail & Leisure B5151 Dunelm, Boots, Poundland, Smyths Toys, N Park owned by USS. E Currys PC World, DW Sports, Nando’s W C and Odeon H E S S Bromborough town centre is situated within close proximity to the property. T T E A D AD R RO I AL U IT R P M S Spital S O P R A IT O A D A L D R River Mersey 4 O A D RETAIL WAREHOUSING MATALAN D LL R HA OLD IN BROMBOROUGH Bromborough Rake Magnet / B&M Bargains M53 BROMBOROUGH The main scheme in Bromborough is The B5151 Croft Retail & Leisure Park, which totals RD RT LPO 450,000 sq ft and attracts over 7 million AL customers a year. Retailers here include Bromborough A41 B R ID M&S Foodhall, H&M, Next, Superdrug, JD, L E D R L R P D AL L The Range, Sports Direct, Argos, Dunelm, RABY H Y M Y Boots, Poundland, Smyths Toys, Currys PC A R D A World, DW Sports, Nando’s and Odeon. V E Rents here average £27.50 per sq ft on a 10,000 sq ft unit. B5151 To the south of the subject property is a 2 unit scheme let to Magnet and B&M Eastham Rake Bargains. 5 The retail warehousing is shown on the plan opposite. RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough DESCRIPTION The subject property is a standalone purpose built retail warehouse unit totalling 29,497 Servicing is to the rear of the western elevation of the unit. Car parking is to the front sq ft, let in its entirety to Matalan. and side of the unit and provides 125 spaces giving a ratio of 1:236 per sq ft. There is a separate entrance and exit to the car park. Internally, the unit is fitted out to the tenant’s specification incorporating a large sales area, customer changing rooms and ancillary staff accommodation at mezzanine level. The site totals 1.42 acres (0.57 hectares), giving a site cover of 48%. RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough Stanhope House Tanks 2 MS 10 C H U R PH 2 C H Rectory V 1 I E W C T 4 W 5 0 o 1 r k s a 0 1 6 o 1 2 t 1 4 2 8 BROMBOROUGH 1 6 2 8 2 2 4 3 3 N E W C H E S TENANCY 6 T 3 ER 7 R 4 O 5 8 A B 3 D Church R O M 7 The property is let on a full repairing and House 4 B 3 St O Barnabas's R O insuring lease to Matalan Retail Ltd on a 15 year Church U G Sta H b l Su 6 E V 4 I o L Church t lease from 21st December 2012 expiring 20th L Cross 0 A Cottage 4 The G E Cromwell FS R December 2027, giving in excess of 8 years O Hotel A D unexpired. Matalan have occupied the unit since War Memorial 1990, and re-geared their lease for a further 15 2 32.5m 5 years from their original expiry in December C H Shelter U T EE ll R R Ha T 1 C S 2 4 H a 2015. H HIG 7 L Lych 1 4 A b 9 N Gate E S H c o h 8 u o 5 s o Hall e 1 l 4 Bank The current rent passing is £450,851 per 0m 25m 50m 75m Bank 1 annum (£15.28 per sq ft). The rent is reviewed St Barnabas 2 Vill C t Q 5 yearly upwards only to open market rental value with increases capped at 2.5% per annum, compounded. The rent is at a significant discount to the units on The Croft where rents TENURE PLANNING generally average £27.50 per sq ft on a 10,000 sq ft unit but are as high as £35 per sq ft for a The property is held freehold as delineated above in red. The property benefits from an open A1 non-food retail unit of this size. planning consent. RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough COVENANT Matalan Retail Ltd are one of the few clothing and homewares retailers continuing to buck the overall retail trend, convincing shoppers to spend on discretionary categories. The retailer’s accessible prices and trend influenced fashion and homewares have continued to prove popular with consumers, driving Q2 2019 revenue up £29.6 million to reach £292 million. The retailer now has 230 UK stores, marginally up from 227 last year. The online offer is also performing well up around 25% year on year. Matalan’s celebrity driven marketing campaigns, regular social media posts and relatable and relevant product lines have driven customers both in-store and online. The retailer currently has a market share of 8.7% of the £12 billion UK value clothing market. Below are the most recent company accounts. Tenant Year Ending Sales Pre Tax Profit Net Worth D&B Turnover (000’s) (000’s) Rating (000’s) 23/02/2019 £1,103,900 £28,300 £305,300 Matalan Retail 5A1 Ltd 24/02/2018 £1,062,500 £29,800 £252,600 EPC The property has a B rated EPC. VAT The property will be sold by way of a Transfer of Going Concern. RETAIL WAREHOUSE INVESTMENT OPPORTUNITY BROMBOROUGH Investment Location & Situation & Retail Description Tenancy, Tenure & Covenant, EPC Proposal & Highlights Catchment Warehousing in Planning & VAT Contacts Population Bromborough PROPOSAL CONTACT We are instructed to seek offers of£5,640,000 (Five Million, Six Hundred and Forty Thousand pounds), Ellie Kirkby subject to contract and exclusive of VAT.