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Retford Nottingham Dn22 6Da

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Retford Nottingham Dn22 6Da 63-69 CAROLGATE RETFORD NOTTINGHAM DN22 6DA HIGH YIELDING INVESTMENT OPPORTUNITY 63-69 CAROLGATE RETFORD, NOTTINGHAM, DN22 6DA HIGH YIELDING INVESTMENT OPPORTUNITY INVESTMENT CONSIDERATIONS ■ Retford is a historic market town in Nottinghamshire ■ WAULT of 7.89 years to expiry (6.46 years to break) ■ We are instructed to seek offers in excess of ■ Situated in the prime retailing pitch on pedestrianised Carolgate ■ Fully let to B&M, Peacocks and Boyes £1,875,000 (One Million, Eight Hundred and ■ 100% let to ‘Very Low Risk’ tenants ■ Passing rent of £218,945 per annum reflecting Seventy Five Thousand Pounds) subject to contract ■ Total of approximately 36,841 sq ft a low rent of £5.94 per sq ft and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 11% and a low capital value of ■ The property comprises 3 retail units arranged over ground £50 per sq ft. and first floor Yo Warton rks hir e D ale s N Barrow-in Furness at ion al P Morecambe ark Au Lancaster tho rity A1(M) Stamford 63-69 CAROLGATE Harrogate Bridge RETFORD, NOTTINGHAM, DN22 6DA Ilkley HIGH YIELDINGYORK INVESTMENT OPPORTUNITY Keighley Leeds/ M6 Bradford Blackpool LEEDS M55 Burnley BRADFORD M1 Blackpool M65 Lytham International Preston M621 Saint Annes Airport BLACKBURN M606 A1(M) HULL Warton Halifax Aerodrome M62 Pontefract M62 M6 M66 HUDDERSFIELD A1 M61 Rochdale M1 Bolton SCUNTHORPE Humberside M18 M180 M181 Airport Wigan Barnsley GRIMSBY Oldham A1(M) M60 DONCASTER MANCHESTER M60 M67 M18 M62 Glossop Rotherham A1(M) LIVERPOOL L in M62 c P o Warrington Stockport ea Gainsborough ln k D sh is SHEFFIELD i M58 tric re Manchester t N W Liverpool International ati o Airport on John Lennon al RETFORD ld Airport Pa s M53 rk M58 Worksop M1 Buxton M6 Chesterfield LINCOLN Chester Hawarden A1 Airport Skegness Wrexham STOKEONTRENT Boston NOTTINGHAM DERBY M1 Grantham Oswestry M6 Burton upon Trent Loughborough LOCATION Shrewsbury Retford is an attractive market town in county of Nottinghamshire. The town benefits from quaint Georgian buildings, two theatres and a large square in the town centre. Retford is situated within the Bassetlaw District which has a catchment population in excess of 100,000. Retford benefits from excellent road communications with the A1 only 4.5 miles to the west of the town, providing access to the M1, 18 miles to the west, leading to Leeds to the north and London to the south. Retford is served by two railway lines, the East Coast Main Line which runs between London and Scotland, with trains taking from 1hr 20 minutes to London Kings Cross, and the Sheffield to Lincoln Line which has links to Sheffield, Lincoln, Gainsborough, Worksop, Grimsby and Cleethorpes. Doncaster Sheffield International Airport is located 14.5 miles to the north of Retford, providing commercial flights to a number of popular European tourist cities. NOTTINGHAM SHEFFIELD LINCOLN 31 MILES (49.8KM) 30 MILES (48.2KM) 20 MILES (32.1KM) TO THE NORTH TO THE EAST TO THE WEST 63-69 CAROLGATE RETFORD, NOTTINGHAM, DN22 6DA SITUATION The property is situated on the pedestrianised Carolgate, occupying a 100% prime retail pitch. East Street, the main pedestrian walkway to the High Street is adjacent to the property. New Street Car Park (174 spaces) Nearby occupiers include Wilko, WHSmith, Boots and Iceland. New Street Car Park, the towns principal car park is situated to the rear of the site and provides 174 car parking spaces. DESCRIPTION The property comprises 3 retail units arranged over ground and the whole of the first floor. The first floor can be accessed from a staircase within 63 Carolgate and an entrance on East Street. At the rear of the property, there is a large service yard and loading area for the retail units that fronts New Street Car Park and accommodates approximately 15 cars. TENURE Freehold. © Crown Copyright, ES 100004106. For indicative purposes only. 63-69 CAROLGATE RETFORD, NOTTINGHAM, DN22 6DA HIGH YIELDING INVESTMENT OPPORTUNITY TENANCY SCHEDULE Demise Tenant Floor Area Area Area Lease Lease Expiry Rent Wault Passing Rent Passing Rent Comments (sq m) (sq ft) Start (Break) Review (Break) £ p.a. £ psf Ground 957.3 10,305 ITZA 174 .1 1,874 The tenant has the benefit of a half rent period expiring in 63 Carolgate B&M Retail Limited 01/02/2020 31/02/2025 4.4 £80,000 £5.64 January 2023, the vendor will top up. The tenant has been First 359.9 3, 874 in occupation since September 2008. Total 1, 317. 2 14 ,179 Ground 819. 2 8,817 The tenant has the benefit of a half rent period expiring in 65 Carolgate Peacocks Stores Limited ITZA 168.5 1,814 01/12/2017 30/11/2027 01/12/2022 7.2 £74,945 £8.50 July 2022, the vendor will top up. The tenant has been Total 819. 2 8,817 in occupation since 2002. Ground 1,286.2 13,845 The lease has fixed uplifts of £2,000 per annum for the first 23/09/2033 13.1 67-69 Carolgate W Boyes & Co Limited ITZA 263.5 2,836 24/09/2018 24/09/2021 £64,000 £4.48 10 years of the lease to £78,000. The next uplift will be (24/09/2028) (8.1) Total 819. 2 8,817 September 2021 to £66,000 pa 7.9 Total 3,422 36,841 (6.5) £218,945 63-69 CAROLGATE RETFORD, NOTTINGHAM, DN22 6DA HIGH YIELDING INVESTMENT OPPORTUNITY COVENANTS B&M Retail Limited Peacocks Stores Limited W. Boyes & Co. Limited Very Low Risk (100) Very Low Risk (99) Very Low Risk (100) 25 March 2017 31 March 2018 30 March 2019 25 Feb 2017 25 Aug 2018 2 March 2019 28 Jan 2017 27 Jan 2018 26 Jan 2019 Turnover £2,252,265,000 £2,629,145,000 £2,801,499,000 Turnover £382,318,000 £564,266,000 £192,421,000 Turnover £76,863,76 £78,878,976 £82,100,481 Pre-Tax Profit £198,006,000 £236,006,000 £273,406,000 Pre-Tax Profit £65,019,000 £66,506,000 £21,185,000 Profit £4,955,164 £4,816,124 £2,099,466 Net Worth £498,412,000 £600,542,000 £754,389,000 Net Worth £192,792,000 £146,493,000 £163,519,000 Net Worth £42,493,887 £47,464,811 £48,334,754 B&M Retail Limited is a FTSE 250 company founded in 1978 and is now Peacocks is part of the Edinburgh Woolen Mill Group employing Boyes is a chain of department stores founded in 1881 in Scarborough one of the leading variety retailers in the UK. B&M has over 650 stores approximately 6,000 people. The first store was opened in Cheshire in 1884. and remains a privately held company. Boyes operate from over 60 located throughout the UK, currently employing 29,000 people. The company operates from approximately 400 stores Nationwide and stores Nationwide and serves around 250,000 customers per week. more than 200 stores across Europe. EPC Available in the dataroom. VAT The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed. DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/retford PROPOSAL We are instructed to seek offers in excess of £1,875,000 (One Million, Eight Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 11% and a low capital value of £50 per sq ft. For further information or to make arrangements for viewing please contact: Lottie Hayward Gergo Petrovics 07817 549 237 07961 234 029 [email protected] [email protected] allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 09.20.
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