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Sheffield Ncp Car Park Blonk Street, South Yorkshire S1 2Ab

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Sheffield Ncp Car Park Blonk Street, South Yorkshire S1 2Ab SHEFFIELD NCP CAR PARK BLONK STREET, SOUTH YORKSHIRE S1 2AB WELL LOCATED LEASEHOLD CAR PARK INVESTMENT SHEFFIELD, NCP CAR PARK BLONK STREET SOUTH YORKSHIRE S1 2AB INVESTMENT SUMMARY › Sheffield is Englands fourth largest city and the commercial, administrative and retail centre for South Yorkshire. › The investment comprises a well located city centre multi storey car-park. › The property is held on a long lease with an unexpired term of approximately 52.75 years at a peppercorn rent. › The property is sub underlet to Wellbay Investments Ltd on assignment from NCP on a co-terminus FRI lease less 6 days. The lease is subject to 7 yearly upward only reviews to open market rent. › The current passing rent is £78,400 pa. › Offers sought in excess of £1,100,000 reflecting an attractive net initial yield of 6.73% allowing for usual purchasers costs of 5.85%. WELL LOCATED LEASEHOLD CAR PARK INVESTMENT WWW.BCMRE.COM SHEFFIELD, NCP CAR PARK BLONK STREET SOUTH YORKSHIRE S1 2AB 4 6 1 2 3 5 8 7 TENTER ST 9 10 11 CORPORATION ST 12 13 WICKER BLONK ST NCP 15 CAR PARK 14 A61 M1 & M18 16 M1 LEEDS 1 SHEFFIELD TRAIN STATION 10 SHEFFIELD CROWN COURT SPITAL ST 2 SHEFFIELD HALLAM UNIVERSITY 11 CASTLEGATE REDEVELOPMENT 3 CRUCIBLE THEATRE 12 HILTON HOTEL SEVILE STREET 4 SHEFFIELD TOWN HALL 13 SHEFFIELD METROPOLITAN MEADOWHALL 5 ORCHARD SQ SHOPPING CENTRE 14 HOLIDAY INN EXPRERSS SHOPPING CENTRE 6 SHEFFIELD CITY HALL 15 RIVERSIDE EXCHANGE 4 MILES 7 PONDS FORGE SPORTS CENTRE 16 HOLIDAY INN SHEFFIELD 8 02 ACADEMY 9 REMIER INN WELL LOCATED LEASEHOLD CAR PARK INVESTMENT WWW.BCMRE.COM A1 SHEFFIELD, NCP CAR PARK BLONK STREET SOUTH YORKSHIRE S1 2AB M66 M62 A629 J38 J1 BARNSLEY J5 M180 A628 J37 A628 J18 J19 A635 DONCASTER M18 M1 A1(M) A6182 A628 A629 J35 LOCATION M60 MANCHESTER M60 A616 J2 J35A J2 A57 J35 A638 The city of Sheffield has a population of some 530,000 and is located J24 M67 J4 M18 ROTHERHAM approximately 35 miles north of Derby and 33 miles south of Leeds. The city M60 J1 A631 A61 J34 A631 A1(M) A631 benefits from good road communications via the A630 and A57 main roads, J1 STOCKPORT J32 J34 which in turn lead to Junctions 31 and 33 of the M1 Motorway some 5 miles M56 A60 A6 J31 to the east. PEAK DISTRICT SHEFFIELD A57 A57 A555 NATIONAL PARK A1 A523 The property is situated on the east side of Blonk Street some 0.9 miles WORKSOP A61 A57 north-east of Sheffield city centre and is conveniently some 0.2 miles A623 M1 A57 south-east of the A61 Ring Road. A537 A6 MACCLESFIELD A619 CHESTERFIELD A614 A617 A60 Occupiers close by include Holiday Inn Express, Sheffield Metropolitan Hotel J29 A1 B A53 (both adjacent) and Hilton Hotel amongst a number of large office buildings. A5236074 A515 L L ROCK ST I H L A M T OW I BR P AY S ST T A617 PRINCESS ST ILE S IFFE RD AV ATTERCL S 178 A34 RIVER DON AA6176 DESCRIPTION A 09 6 A6 A61 1 NEWARKONTRENT D TESCO EXTRA EREK GREEN LANE DO The property provides a multi-storey car park arranged on ground and OL SAVILE ST EY SAVILE ST W LEVESON ST AY A38 RIVER DON M1 seven upper levels. The property benefits from 301 spaces on a site area of ALMA ST HAM ST EFFING EF FING STOKEONTRENTS HAM H RD approximately 0.24 hectares (0.59 acres). A SAVILE ST 1 LE B607 T SM 1 NURSERY ST S O 6 E O A YL R SUSSEX ST O A6135 H HOLIDAY INN SHEFFIELD BRIDGE ST RIVER DON A61 A61 D EREK DO SHEFFIELD NCP OLEY TENURE WAY SHEPARD ST CAR PARKBLONK ST CORPORATION ST B6071 SHEFFIELD METROPOLITAN NATIONAL EMERGENCY HOTEL THE MEGACENTRE SERVICES MUSEUM DG The property is held leasehold for a term of 99 years less 3 days from 7th BRI E ST BLONK ST W BAR CASTLEGATE FURNIVAL RD B SNIG HILL L O K N VICTORIA QUAY R SHEFFI June 1971 expiring 4th June 2070 the unexpired term is approximately 52.75 K PA ELD P EXCHANGE PL AR S D K W L AY T E A57 FFI HE TRAMLINK 1 S CRICKET INN RD years. The rent is a peppercorn. The lease is effectively full repairing insuring. TENTER ST A6 BBOOUUTT ST JOHNS NNDDAA MALTRAVERS RD CRICKET INN RD SHEFFIELD OUOU CHURCH PARK RR 1 WW 7 The long lease is held from LDC (Smithfield) Ltd with the ultimate freeholder BROAD ST 0 S S PARK 6 E B N K K LA AD TRAMLINK R R A RO T A P B IGH S COMME P SQUARE H RC IAL S bring Sheffield City Council. T POND FORGE INTERNATIONAL SPORTS CENTRE B 6 0 ORCHARD SQ 7 0 WEST ST POND HILL SHOPPING D CENTRE U K E ST POND 1 S T 6 A ARUNDEL GATE SHEFFIELD WELL LOCATED LEASEHOLD CAR PARK INVESTMENT WWW.BCMRE.COM SHEFFIELD, NCP CAR PARK BLONK STREET SOUTH YORKSHIRE S1 2AB TENANCY National Car Parks Ltd (company number 00253240) YEAR TO 31/3/2017 31/3 2016 31/3/2015 The property is sub let on a 99 year lease less 6 days from TURNOVER £211.4M £202.7M £198.7M 7th June 1971. The lease is full repairing and insuring subject PRE-TAX PROFIT £24.7M £28M £14.7M to 7 yearly upward only reviews to open market rental value. NAV £190.8M £169.5M £157.9M The current passing rent agreed at the June 2016 review is £78,400 per annum increasing from its previous level of CP CO 7 Limited £72,400 per annum. The principle activity of CP CO 7 Limited is that of property ownership and management with the aim of deriving a The original tenant was National Car Parks Ltd (NCP) Ltd, the profit through the continued use or through a sale of the lease has subsequently been assigned to CP Co 7 Limited and was investments. assigned last year to Wellbay Investments Ltd. As a result of the YEAR TO 31/12/2015 31/12/2014 lease being dated pre 1995 the landlord is able to rely on NCP TURNOVER £13,112,300 £14,568,613 Ltd by way of privity. PRE-TAX PROFIT £3,179,464 £4,007,735 NET ASSETS £56,640,924 £54,446,337 The property is at present sub under-let let to NCP Ltd ( who operate the car park) for a term of 34 years and 11 months from Wellbay Investments Limited the 29th June 2002 expiring 28th May 2037 (no breaks) at a There are no accounts available for this company. current rent of £6,006.30 per annum PLUS the rent payable under the superior sub lease. The sublease provides for the subtenant to pay the rent payable under the immediate superior lease but in VAT addition the base rent is compounded by 3% per annum, at each VAT is applicable to this sale. Please refer to the special review which are 7 yearly. The repairing obligations comply with conditions for Transfer of a Going Concern (TOGC) the head lease, and are effectively FRI. The tenant has the option provisions. to extend the lease for a further 20 years on providing 18 months’ notice. ENERGY PERFORMANCE TENANT INFORMATION CERTIFICATE National Car Parks is the United Kingdom’s largest and EPC is not required for a car park. longest-standing private car park operator, with over 150,000 spaces across more than 500 car parks in towns, cities, airports and London Underground and National Rail Stations. Website Address: www.ncp.co.uk WELL LOCATED LEASEHOLD CAR PARK INVESTMENT WWW.BCMRE.COM SHEFFIELD, NCP CAR PARK BLONK STREET SOUTH YORKSHIRE S1 2AB FURTHER INFORMATION For further information please do not hesitate to contact BCM Real Estate. John Reavley DD: 020 3667 8404 T: 020 3667 8400 M: 07899 841 312 E: [email protected] Andrew Barrs DD: 020 3667 8408 M: 07909 522 151 E: [email protected] Tom Steadman DD: 020 3667 8406 M: 07904 276 239 E: [email protected] BCM St Christopher’s House St Christopher’s Place London W1U 1NZ Misrepresentation Act: These particulars are issued, without responsibility on the part of the vendor, BCMRE, or any of their respective employees or agents and serve only as an introductory guide to the premises. No part of them constitutes a term of a contract or a statement or representation upon which any reliance can be placed. Any person with an actual or prospective interest in the premises must satisfy themselves as to any matter concerning the premises by inspection, independent advice or otherwise. BCMRE, nor any of their employees or agents have authority to make or give any representation or warranty as to the premises whether in this report or otherwise. Unless otherwise stated all figures quoted are to be considered exclusive of VAT. The plans are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and does not form part of any contract. November 2017. Design and produced by PLP London T:020 3137 3079 • plplondon.com WELL LOCATED LEASEHOLD CAR PARK INVESTMENT WWW.BCMRE.COM.
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