Leisure@Cwmbran Glyndwr Road, Cwmbran, Torfaen Np44 1Qs
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LEISURE@CWMBRAN GLYNDWR ROAD, CWMBRAN, TORFAEN NP44 1QS LEISURE INVESTMENT OPPORTUNITY LEISURE@CWMBRAN CWMBRAN @ CWMBRÂN BUS STATION STATION LEISURE NEWPORT 6.5 MILES A5401 TO THE A4042 ABERGAVENNY 14 MILES LEISURE@CWMBRAN Investment Summary • Popular leisure complex located in a strong • Vue cinema account for approximately 30% • Leisure @ Cwmbran provides the only leisure commercial centre in South Wales of the income complex in Cwmbran • Freehold • Long unexpired lease terms with an • Offers are sought in excess of £11,000,000 • Let to 9 tenants at a passing rent of £826,969 pa attractive AWULT of 13.43 years to expiry (Eleven Million Pounds), which reflects a net plus turnover rent of £36,067 (11.32 years to break) initial yield of 7% (net initial yield of 7.35% inc. the turnover rent) after the deduction of normal purchaser’s costs of 6.70%. LEISURE@CWMBRAN LEISURE@CWMBRAN provides the only leisure complex in Cwmbran. LOCATION Cwmbran is located in South Wales, approximately 6.5 miles North of Newport, 16 miles north east of Cardiff and 14 miles South of Abergavenny. Junctions 26 and 25a of the M4 motorway are approximately 4 miles to the south, with access being provided via the A4051 and A4042 respectively. Cwmbran Railway Station is located within a 10 minutes walk of the complex and provides a regular and direct service to Cardiff and Newport with journey times approximately 30 minutes and 10 minutes respectively. Cardiff airport is located 26 miles South West of the subject property and is accessible via the M4, Junction 33. t Great e M e r d aMalverne t d n a d a y S A o W l o A4103 d e 4 R R W A438 a a A449 0 s y t A470 o o A438 ’ A438 Hereford ap o e 5 R d h i d d s l en y r a v a W 1 r Retailing in Cwmbran A4172 M a C Trus n A483 se a d w l R y y oad e R a D a o m . S a M t Cwmbrân W o d p A49 S S n h r a t The town has a primary catchment population of approximately 146,000 i A438 A449 r g n lo o d M50 g E Woo P A40 Brecon A479 dside A417 v Way a significantly above the PROMIS small town average. Cwmbran is the only l e d a A40 A40 o A465 Ross-on-Wye W R A S a p y ring e “new town” development in South Wales and is an established commercial A4137 vale 4 oad d Caradoc R rk A40 i 0 l Pa s na d S o io W ns Nat GLOUCESTER o 5 Brecon Beaco t location with a total working population of approximately 48,000. 1 Lesiure @ A40 ay G W D A40 e l g r y a A483 Abergavenny fo an C e n st of D v Cwmbran Fore n w e d i The town provides a total of 780,000 sq ft of retail accommodation with a further A465 e L d r m w A48 A470 ly ’ s Glyndwr Road G w r G b Cwmbrân e R 310,000 sq ft of retail warehouse and leisure accommodation. Merthyr r R e r l y A4042 o e â o n n Shopping Tydfil a n f a R o d Centre d r D A48 g o Cwmbran Shopping Centre, situated adjacent to Leisure @ Cwmbran, provides Pontypool e a A465 A449 r d S i t. W v D e M4 CWMBRÂN M5 ia a 700,000 sq ft of retail accommodation and forms the 2nd largest shopping centre Neath ls y Chepstow Ro ad o G ad Tudor R in Wales and the 29th largest in the UK. The shopping centre is anchored by House SWANSEA r Swansea a M48 n g Port Talbot Pontypridd S e of Fraser (30,000 sq ft), Topshop (4,000 sq ft), Asda (90,000 sq ft) and Marks & t A470 NEWPORT . t Caerphilly M4 R en D sc o re A433 a C a A403 v Spencer (30,000 sq ft). There are 3,000 free car parking spaces in close proximity Chipping d n i d M49 o L ’ Sodbury v A48(M) A s A470 A48 l r G y M4 a to the leisure complex. Avonmouth r 4 w R e n o eM4 0 r e a Pontshead M32 n e CARDIFF m 5 l d A4 A46 y a e 1 n y A4232 C a S Cwmbran Retail Park is located on the outskirts of the town to the west of Leisure @ BRISTOL A420 d t R a . o Penarth o D C ad W M5 w ia W ls R w n Cwmbran where occupiers include Next, Halfords, CarpetRight, TKMaxx and B&Q. Cardiff A4 oad o BristolA38 A4 a m v Barry B y y A e b l l V r e A37 s n e r i y BATH â c h L n e W t L n o l l a i A38 d d a a l Weston-super-Mare m oa r n y i R r a n f L e t D r ar S t e R c pe S a h s r t fa r r o e W i e k n a a a v e d y h t a d e a S o m e R u R n e o e g v a A n r d e a k r oc Henllys Way C G H en llys W ay According to the BFI Research and Statistics Unit, UK cinema admissions in 2015 were 9% higher than the same period in 2014. Total UK spend for film in 2015 was £1.236 billion; up 17% on the previous year. Cwmbran SITUATION Leisure @ Cwmbran is situated within the centre of LEISURE@CWMBRAN Cwmbran on Glyndwr Road adjacent to Cwmbran Shopping Centre. Cwmbran town centre benefits from 3,000 free customer car parking spaces. Leisure @ Cwmbran is located directly between the town’s main bus and railway station. The railway station is linked directly to the scheme via a pedestrianised bridge; the link also connects to the Morrison supermarket to the east of the leisure complex. The property provides a frontage onto a pedestrianised walkway leading to Morrisons supermarket from where Frankie and Benny’s, Tiffins, Bowlplex, Vue, and Harvester can be accessed. Lollypops & Ladybirds Ltd and Bay Leisure have frontages onto Glyndwr Road. DESCRIPTION CINEMA SUPPLY The property was constructed in 2008 and comprises Major cinema supply within a 20 mile radius: Experian Goad Plan Created: 04/11/2015 a purpose built leisure complex arranged over ground 50 metres NEWPORT - 6 MILES and first floor. The property provides a range of Created By: Allsop Cineword (Spytty Park) - 13 screens complementary uses with six A3 units, a cinema, Copyright and confidentiality Experian, 2015. © Crown copyright and database For more information on our products and services: bowling alley, gym and a trampoline centre. Cineworldrights 2015 (Friars Ordnance Walk) - 8Survey screens 100017316 www.experian.co.uk/goad | [email protected] | 0845 601 6011 The property is anchored by Vue cinema comprising CARDIFF – 16 MILES 8 screens, including 2 digital 3D screens over Cineworld - 15 screens 20,000 sq ft of ground and first floor. Odeon - 18 screens Vue - 14 screens Bowlplex comprises a 20 lane bowling complex with a late night licensed bar. NANTGARW – 20 MILES Showcase - 12 screens LEISURE@CWMBRAN TENANCY SCHEDULE Unit Tenant Use Area Area Lease Start Lease Break Lease Review Rent Rent Comments (Sq m) (Sq ft) Expiry Term (£p.a) (£psf) 1A Lollypops & A3 132.76 1,429 11/10/2013 11/10/2018 5 N/A £17,000 £11.90 Ladybirds Limited 1B Kaspa’s Cwmbran Ltd A3 191.66 2,063 25/05/2016 25/05/2026 10 25/05/2021 £40,000 £19.39 Lease subject to guarantee from Kaspas Distribution Limited. 2 City Centre Restaurants Restaurant 369.29 3,975 27/07/2009 27/09/2034 27/07/2019 25 27/07/2019 £70,000 £17.61 5 yearly upwards only reviews to (UK) Limited (The Restaurant (Frankie and 27/07/2024 Open Market Rental Value. Group (UK) Limited) Bennys)/A3 27/07/2029 3A & 3B To be Gareth and A3 318.29 3,426 03/01/2017 02/01/2019 2 £55,000 £16.05 In solicitor’s hands and due to complete shortly. Heather Lee t/a Restaurant 4 Precision Trade Europe Restaurant/A3 300.54 3,235 04/08/2008 03/08/2033 25 04/08/2018 £66,000 £20.40 5 yearly upwards only reviews to the higher of RPI Limited (Tiffins) 04/08/2023 or Open Market Rental Value. 04/08/2028 5 Mitchells & Butler Retail Restaurant/A3 438.04 4,715 14/07/2011 14/07/2036 14/07/2026 25 14/07/2021 £66,819 £14.17 RPI Linked increases. (No2) Limited Harvester 14/07/2026 14/07/2031 Cinema Vue Entertainment Limited Cinema 1,969.52 21,200 18/12/2008 17/12/2028 10 18/12/2018 £243,800 £11.50 5 yearly upwards only reviews to Open Market Value. 18/12/2023 Bowling Bowlplex Limited Ten Pin 2,781.52 29,940 15/03/2012 03/08/2033 21 14/03/2022 £170,000 £5.68 Bowlex Limited has recently been acquired by Hollywood Bowl.