FREEHOLD RETAIL INVESTMENT FREEHOLD
RETAIL INVESTMENT
80-82 HIGH STREET 80-BLACKWOOD82 HIGH STREET BLACKWOODNP12 1YG NP12 1YG WELL CONFIGURED MODERN RETAIL UNIT
WELL CONFIGURED MODERN
RETAIL UNIT
029 2037 8844 • www.ejhales.co.uk 029 2086 7711 • www.brinsons.co.uk
LOCATION & SITUATION
Blackwood is a commuter town located 10 miles north-west of Newport and 16 miles north of Cardiff.
The A4048 provides access to Junction 32 of the M4 Motorway 10 miles to the south.
The town ward has a population of 24,042.
The Poundland is prominently situated on the western side of High Street, which is the prime retail pitch within Blackwood.
Occupiers in the immediate vicinity include Argos, HSBC, Superdrug, Bon Marche, Lloyds, Greggs, Boots, amongst others.
DESCRIPTION
The property comprises a prominent double unit over two storeys – with retailing
on the ground floor and storage and staff areas on the first. INVESTMENT SUMMARY The property also benefits from a loading yard at the rear and a small site of 407 • Blackwood is a commuter town 10 miles north-west of Newport, 16 sqm to the side which is currently overgrown. This site provides excellent miles north of Cardiff. potential either for redevelopment or for creating additional customer parking for the unit. • Population 24,042.
• Retail unit let to Poundland. ACCOMMODATION • Situated in the prime retail pitch.
• Low rebased passing rent of £5.57 per sqft overall (£55,000 pa). The property provides the following areas:-
• Offers in the region of £500,000 (Five Hundred Thousand Pounds) subject Ground Floor Sales 5,019 sqft to contract. Ground Floor Ancillary 387 sqft • VAT free. First Floor Storage & Staff 4,467 sqft • Equating to a Net Initial Yield of 10.53%. Total 9,873 sqft
• Ideal SIPP purchase.
EJ Hales - 28 Windsor Place • Cardiff • CF10 3SG Brinsons – Eastgate, Market Street • Caerphilly • CF83 1NX
TENANCY
Poundland
The property is let to Poundland Limited on a 10 year lease which expires on the 15 April 2022.
At a rent of £55,000 pa which is paid monthly.
There is an outstanding rent review from April 2017.
The lease is drawn on full repairing and insuring terms, subject to a Schedule of Condition.
Low passing rent of £5.57 per sqft overall.
TENANT COVENANT
Poundland Ltd is the leading UK variety store chain founded in 1990. They acquired rival 99p Stores in 2015 and are considered to be the market leader in the sector. They were voted Value Discounter of the Year in 2019 by Retail Week.
Poundland now has close to 850 stores throughout the UK and Ireland, with over 18,000 employees. The company also operates the Pep & Co clothing brand.
For more information visit:- www.poundland.co.uk
Poundland Ltd have a Dun & Bradstreet Credit Rating of Low-Moderate Risk.
Their latest accounts for the year ending 30/09/2018 showed strong performance, as summarized below:-
Turnover £1,522.6M Pre-Tax Profit £15.3M Net Assets £112.3M Net Worth £17.8M
3SG
TENURE
Freehold – as edged red on the plan opposite.
VAT
We have been informed that the property is not elected for VAT.
PROPOSAL
We have been instructed to seek Offers in the Region of £500,000 (Five Hundred Thousand Pounds), subject to contact.
A purchase at this level reflects a Net Initial Yield of 10.53% after allowing for purchaser’s costs of 4.5%.
EPC
The property has an EPC rating of C-66.
EJ Hales/Brinsons and the Vendor take no responsibility for any error, mis-statement or omission in these particulars. Measurements are approximate and for guidance only. These particulars do not constitute any offer or contract and neither E J Hales/Brinsons nor anyone in their employ have any authority to make any representation or warranty in relation to the property
VIEWING AND ADDITIONAL INFORMATION Strictly by appointment through the joint selling agents, contact: Daniel Griffiths – EJ Hales Tel: 029 2034 7133 • Mobile: 07818 553350 • E-mail:[email protected] Beverly Williams - Brinsons Tel: 029 2086 7711 • E-mail:[email protected]