FREEHOLD INVESTMENT FOR SALE

41 Street, Market Drayton, TF9 1PH

INVESTMENT SUMMARY

· Historic and affluent in · Well configured retail accommodation with self-contained office accommodation at first floor · Prominent position fronting Cheshire Street in close proximity to the town centre parking provision and other national retailers · Fully Let to Iceland Foods Limited (D&B 5A2) and Barringtons Accountants (Credit Safe Risk Score 56) · Iceland have been in occupation for over 45 years · Freehold · Not elected for VAT · Total Passing Rent £49,500 pa · Seeking offers in excess of £550,000 subject to contract and exclusive of VAT · Net initial yield of 8.58% after costs at 4.89%

Call now 0151 242 3000 www.masonowen.com 41 Cheshire Street, Market Drayton, TF9 1PH

Location Description Market Drayton is a historic and attractive market The property is arranged over two storeys and town in 20 miles north east of provides a ground floor supermarket with ancillary , 16 miles west of Stoke on Trent and 46 accommodation at first floor with self-contained office miles north west of Birmingham. The town benefits accommodation at first floor accessed directly off from good transport communications with the (A53) Market Street. Newcastle Road linking directly to Junction 15 of the M6, approximately 12 miles to the east. The property benefits from a rear service yard accessed off Frogmore Road car park. Catchment Market Drayton is the third largest town in Shropshire Accommodation and has resident population of 22,127, an increase 41 Cheshire Street of 12.1% since 2001 census. It is geographically Gross Frontage 47’8” 14.52 m removed from competing retail centres resulting in a Net Frontage 41’11” 12.77 m loyal catchment and an enhanced level of retail Ground Floor Sales 3,484 sq ft 323.67 sq m spend. Ground Floor Ancillary 188 sq ft 8.18 sq m First Floor 1,205 sq ft 111.95 sq m The catchment comprises of an affluent population within a 15 minute drive time, 22% of the population 41a Cheshire Street First Floor Offices 1,795 sq ft 166.76 sq m of the social Grade AB (10% above the national average) (Experian). Additionally, the town is Tenancies identified by as a principal centre 41 Cheshire Street - Let to Iceland Frozen Foods Ltd for development, with 650 homes planned to be built for a term of 5 years from 29 September 2017 at a by 2026 (Shropshire Council). passing rent of £42,500 pa. The lease is drawn on Full Repairing and Insuring terms. Situation The subject property is prominently positioned 41a Cheshire Street - The first floor office fronting Cheshire Street adjacent to the Council accommodation is let in its entirety to Barringtons Ltd Offices and equidistance between the town centre for a term of 5 years from 29 September 2015 at a principal parking provision. passing rent of £7,000 pa. The lease is drawn on Full

Nearby national occupiers include Natwest Repairing and Insuring terms. The tenant did not (opposite), Specsavers (adjacent), Betfred, Coral, trigger their break clause on 28 September 2018.

Greggs, Boots, WH Smith, Sports Direct and B&M.

41 Cheshire Street, Market Drayton, TF9 1PH

Covenant Information Tenure Iceland Foods Ltd was established in 1970 and is the UK’s Freehold leading frozen food retailer employing some 26,000 people in 900 stores throughout the UK and a further 40 owned or Proposal franchised stores across Europe. We are instructed by our clients to seek offers of £550,000 subject to contract and exclusive of VAT for our client’s Iceland Foods Ltd is rated 5A2 by Dun & Bradstreet and the freehold interest. company has reported the following results across the last 3 years: A purchase at this level will reflect a net initial yield of 8.58%

2018 2017 2016 after allowing for purchaser’s costs at 4.89%

Turnover £2,972,900,000 £2,770,500,000 £2,658,332,000 Profit/(Loss) £32,800,000 £67,300,000 £58,172,000 Anti-Money Laundering Before Taxes Under Money Laundering Regulations, we are obliged to Tangible £774,900,000 £784,100,000 £740,354,000 verify the identity of a proposed purchaser once a sale has Net Worth been agreed and prior to instructing solicitors.

Barringtons Limited incorporated in 2001 are a firm of Chartered Further Information Accountants with offices in Newcastle under Lyme, , Contact: Andrew Scott Nantwich in South Cheshire, Market Drayton and Newport in Tel: 0151 242 3043 Shropshire. The company provides a comprehensive portfolio of Email: [email protected] accountancy and taxation services to a wide variety of clients across a diverse range of industry sectors including Healthcare, Contact: Allie Bainbridge Business, Individuals and Business Growth. Further information Tel: 0151 242 3141 can be found at www.barringtons.co.uk and a copy of the Email: [email protected] creditsafe report is available on request.

VAT Not elected for VAT.

Energy Performance Certificate Retail Unit = Band C First Floor Offices = Band G

Misrepresentation Act 1967 Messrs. Mason Owen & Partners for themselves and for vendors or lessors of this property whose agents they are, give notice that the particulars are set out as a general outline for the guidance of intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract. All descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details, are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Messrs. Mason Owen & Partners has any authority to make or give any representation or warranty whatever in relation to this property. We declare that a Director of this Practice has an interest in the vendor company. Subject to Contract.