Units A, B, C 117 Fylde Road, Southport, PR9 9XL

CO-OP ANCHORED NEIGHBOURHOOD SHOPPING CENTRE WITH AN AWULT OF 11.3 YEARS (CERTAIN)

81% OF INCOME SECURED TO CO-OPERATIVE GROUP FOOD LIMITED Units A, B, C 117 Fylde Road, Southport, PR9 9XL CO-OP ANCHORED NEIGHBOURHOOD SHOPPING CENTRE WITH AN AWULT OF 11.3 YEARS (CERTAIN)

“Supermarket, pharmacy and fish bar investment forming an important convenience centre for the local community”

INVESTMENT CONSIDERATIONS PROPOSAL ■ Prime, long let neighbourhood shopping centre totalling 21,158 sq ft (1,965.6 sq m) ■ Offers sought in excess of £4,145,000 (Four Million, One Hundred and Forty Five ■ Located in the affluent coastal town of Southport, Merseyside Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.25% and a low capital value of £195 psf. ■ Freehold ■ Let to 3 secure tenants at a passing rent of £276,120 per annum ■ 81% of the income secured to Co-operative Food Group Limited (5A1) for a further 11.4 years DATA ROOM ■ AWULT of 11.3 years (certain) ■ For access to the data room please visit: ■ Excellent long term alternative use potential including residential (STP) https://datarooms.allsop.co.uk/register/southport Yo rk sh ir e Da les M6 N A683 ati A65 o na A61 A19 l P ar k A LANCASTER u tho rity Units A, B, C A59 117 Fylde Road, A59 arroate A658 Southport, PR9 9XL CO-OP ANCHORED NEIGHBOURHOOD SHOPPING CENTRE WITH AN AWULT OF 11.3 YEARS (CERTAIN) A682 Skipton A661 A1237 YORK

A629 A588 A65 A658 A1(M) A6 A682 A660 A61 Tadaster M6 A6068 A58 A650 Leeds A585 Bradford A64 A586 Airport A59 Bingle A6120

B5269 BLACKPOOL M55 A585 Burnle LEEDS A680 BRADFORD A643 M1 A629 A6177 Blackpool A583 M65 International A63 Airport PRESTON M621 M606 A1(M) Warton BLACBURN A646 A584 Aerodrome A56 A646 A58 A582 HALIFAX Castleford

M62 A668 A6033 Wakefield A565 M6

HUDDERSFIELD SOUTHPORT M66 A1 M62 A642 Rochdale A638 A19 A59 M61 A628 A5209 BOLTON A58 Ormskirk A668 Formby A629 Barnsle WIGAN A565 Oldham A635 A1(M) M18 M58 A570 M60 M1 A665 DONCASTER A5207 A628 A616 A5036 A580 MANCHESTER A580 M6 ST. HELENS A572 M60 M67 Bootle M62 A560 Glossop M18 A58 A1(M) LIVERPOOL A57 Sale A5058 M62 A56 Stockport P Birkenhead WARRINGTON ea k D SHEFFIELD A561 Widnes A6 is A562 M58 Manchester t A41 ri A57 A56 International ct Airport N Liverpool at John Lennon A523 io Airport n al A34 Pa M53 A533 rk A619 A556 A537 A623 A61 M58 A55 A550 Macclesfield Buxton A49 A537 A60 A55 CHESTERFIELD A533 M6 A515 M1 A51 CHESTER A523 A53 2 Haarden 6 N Airport C N

LOCATION SITUATION E IV R D 5 E D 6 IN A 5 R O A A R D A530 M O D A41 O A Mansfield T O A34 E R Southport is a large and affluent coastal town in Merseyside located The property is prominently situated on Fylde Road, within the LE F E G ID Hesketh R B Golf Club M approximately 16 miles (26 km) north of Liverpool and 14.8 miles densely populated residential area of Marshside, approx. 2 miles A 4 E 4 S C 2 E 5 T B E R N O A (23.8 km) south west of Preston. The town is a popular tourist destination north of Southport town centre. The property is a 2 minute drive A L D D L IE F N Southport A B with long sandy beaches, nature reserves and coastal promenades attracting to the A565 which in turn provides direct access to Southport town Golf Links F

I R

A approx. 9 million visitors generating in excess £500 million per year. centre as well as Liverpool to the south and Preston to the north.

2 6 5 N 4 C 2 The property is situated next to the core employment area for 5 N B The town benefits from excellent transport links with the A565 providing E IV E R D D E A Hesketh IN N R E Park Marshside which comprises a mix of office, leisure and industrial use. A M 5 M O 6 direct access south to Liverpool and north to Preston. The A565 also provides R 5 P A T EE R T The property is situated adjacent the Marshside Medical Centre, S D 5280 direct access to the M57 and M58 which in turn provides access to the M6. R B D MO O A SS L RO LA S N Marine Lake N E EE complimenting the pharmacy and reinforcing the importance of U 245 B5 Southport Railway Station is located in the heart of the town centre and OAD 5 R R 4 TE 2 ES 5 C the property as a local convenience and community centre. B N MA Princes E D N A provides direct links to Liverpool Central (45 min), Wigan (30 min) and Park O N E R M O O

P 7 O

D 6 Singleton Close bus stop is located directly outside the subject 2 D A

O 5 A Manchester (1 hr 15 min). Liverpool Airport is located 22 miles from A V R E T D R A O O property providing services to Southport town centre and R UL D Southport (45 min drive). SOUTHPORT R L TOWN O CENTRE O MEOLS COP T Formby with buses every 15 minutes. R A A 5 7 0 Units A, B, C 117 Fylde Road, Southport, PR9 9XL CO-OP ANCHORED NEIGHBOURHOOD SHOPPING CENTRE WITH AN AWULT OF 11.3 YEARS (CERTAIN)

DESCRIPTION The property comprises a modern parade of three retail units arranged over ground floor level totalling 21,158 sq ft (1,965.6 sq m). The building is of steel portal framed construction with brick clad facades and a steel roof. Unit A, comprises a 17,646 sq ft supermarket occupied by Co-op. The unit benefits from a large open plan shop floor with staff and storage accommodation to the rear. Co-op have recently fitted out the unit to its most recent corporate style. Units B and C provide smaller, open plan retail units fitted out by the tenants to provide a fish bar and pharmacy. To the front of the property is a large customer parking area providing 102 spaces. There is also a shared loading area to the rear of the property which provides additional staff parking.

SITE The property occupies a 1.72 acre (0.7 hec) Freehold site.

TENANCY

Unit Tenant Area Start Review Expiry Rent % Rent Uxp term Comments (sq ft) (£p.a) of Income (£psf) (years) PLANNING POLICY Unit A Co-Operative Food 17,646 13/12/06 13/12/21 13/12/31 £223,120 81% £12.65 11.4 Upwards only RR to the OMRV. The property sits within a designated ‘Residential Group Ltd Development and Primarily Residential Area’ under policy HCM 3 of the Sefton Local Plan (2017). HCM 3 areas are Unit B Healthy Living Pharmacies 1,568 06/11/06 06/11/21 05/11/31 £30,000 11% £19.13 11.3 Upwards only RR to the OMRV. described in the Local Plans as areas where new residential Unit C Flyde Fish Bar 1,944 05/01/16 05/01/21 04/01/31 £23,000 8% £11.83 10.4 Upwards only RR to the OMRV. development will be permitted where consistent with Break on 05/01/21 - break not served other Local Plan policies. This illustrates the property’s and noticed expired. excellent future development potential whilst providing additional security through its underlying site value. 21,158 £276,120 £13.05 11.3

AWULT The property provides an Average Weighted Unexpired Lease Term of 11.3 years (certain). SUBJECT PROPERTY

AD RO DE FYL

SPORTS FACILITY

RECREATION GROUND

5 6 5 A

KEY Red: Housing Allocation (Policy HCM3) Orange: Employment Area (Policy ED3) Green: Local Open Space (Policy NH5) Units A, B, C 117 Fylde Road, Southport, PR9 9XL CO-OP ANCHORED NEIGHBOURHOOD SHOPPING CENTRE WITH AN AWULT OF 11.3 YEARS (CERTAIN)

COVENANT

Co-Operative Food Stores (81% of income) Co-Op Group in Numbers: Co-operative Group Food Limited is a wholly owned subsidiary of The Co-operative Group Ltd, a British consumer co-operative employing over 70,000 people across the various business lines with over 4.6m active members. In 2019, group turnover increased to £10.9bn, an increase of 7% compared to 2018 reflecting its sixth SALES 2019 UNDERLYING PROFIT FOOD SALES WHOLESALE REVENUE successive year of sales growth. This reflects a strong performance in the food sector with the successful acquisition of Nisa’s wholesaling operations in 2018 and the opening of 79 new stores driving growth. £10.9BN £50M £7.5BN £1.4BN UP 7% ON 2018 UP 52% IN 2018 UP 3.2% ON 2018 UP 45% ON 2018 Co-Op Food now operate from over 2,600 local, convenience and medium sized stores making it the UK’s sixth largest food retailer and the biggest convenience retailer. Dun & Bradstreet rating: 5A1 representing a ‘minimum risk of business failure’. Experian Credit rating: 91 representing a ‘Very Low Risk’

Healthy Living Pharmacy Fylde Fish & Chips Healthy Living Pharmacies is a pharmaceutical group established in 2007. The company operates from three pharmacies located Fylde Fish & Chips is an award winning fish bar established in 2008. The business in Southport and Liverpool. The subject unit (t/a Fylde Road Pharmacy) is a dispensing chemist and pharmaceutical retailer. operates from three restaurants in the Merseyside area including; the subject The subject property is Healthy Living Pharmacy Limiteds first unit and they and have now been in occupation for over 13 years. property, Southport Town Centre and Ormskirk. The unit is let with a personal The unit is let with a personal guarantee from the business owners. guarantee from the business owner. EPC EPC’s available upon request or via the data room. VAT The property is elected for VAT and therefore it is assumed the sale will be treated as a TOGC. ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed. DATA ROOM For access to the Allsop data room please use the following link: https://datarooms.allsop.co.uk/register/southport

PROPOSAL Offers sought in excess of £4,145,000 (Four Million, One Hundred and Forty Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects aNet Initial Yield of 6.25% and a low capital value of £195 psf.

For further information or to make arrangements for viewing please contact:

James Salmon Gergo Petrovics 07720 400 306 07961 234029 [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