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Lidl, 5 Low Walk Wellington Centre Aldershot, Gu11 1Db

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Lidl, 5 Low Walk Wellington Centre Aldershot, Gu11 1Db LIDL, 5 LOW WALK WELLINGTON CENTRE ALDERSHOT, GU11 1DB WELL LET SOUTH EAST SUPERMARKET INVESTMENT WITH FIXED UPLIFTS 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB INVESTMENT CONSIDERATIONS ■ Attractive town centre foodstore investment ■ Fixed rental uplifts every 5 years - next one in 2025 ■ Offers are sought in excess of £2,100,000 ■ Situated in the affluentSouth East commuter town ■ The property forms part of the Wellington Shopping (Two Million One Hundred Thousand Pounds), of Aldershot Centre which is home to a number of national retailers subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of8.00% ■ Let to the excellent covenant of LIDL UK GMBH for including Boots, WH Smith, Wilko, Argos, Sports Direct and Vodafone based on the current rent after allowing for purchaser’s a minimum of 5 years (to first break) costs of 6.38% with a guaranteed reversionary net ■ ■ The unit comprises a total of 1,285.8 sq m (13,841 sq ft) Held Long Leasehold with approximately 144 years yield of 9.50% from June 2025. of modern, well configured floor space to run ■ Current net rent of £179,005 per annum (£12.93 psf) A505 Stevenage A131 Dunstable A120 Stansted Luton Luton Bishop’s Knebworth Stortford A34 A418 A602 M40 A5 A130 Aylesbury Welwyn Garden City Hertford A12 M1 A414 Hemel Harlow Hatfield Hempstead St Albans A4142 M10 Chelmsford A138 A41 A414 A1(M) A10 M11 Potters Bar Epping Chipping M25 Ongar A404 Borehamwood A4010 M25 Watford A1 Enfield 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB High Rickmansworth A10 M11 A355 Billericay Wycombe A413 South Brentwood Oxney Wickford M1 A12 Harefield Harrow M25 H l R Brent A127 ospita oa d M40 Ruislip Cross Romford Basildon A130 Knol A404 A10 leys Road A12 A40 Wembley Benfleet Southend-on-Sea Henley-on-Thames Uxbridge A40 d a Maidenhead Canvey o Stanford-le-Hope R Slough l a Island t i ill p LONDON A13 N s o M4 o le H r e H t n La Fulham h brook ad Will d L De Windsor Hounslow em Midd a s Avenue Ro a Heathrow ce M4n Richmond Clapham an e Dartford Ordn Reading A316 A2 Staines Gravesend Sheerness Ashford Kingston A2 d A20 High St oa Upon Thames W A309 Wokingham Ascot A3 Bromley e dan R A23 Swanley l e l d ing R a Gillingham Cr A322 Tolworth Rochester ton oss A24 Croydon Weybridge A232 A232 S St M2 t M25 Chessington Sutton M25 M20 tation Ro A21 S A243 oad R G Victoria s Sittingbourne een Ro u ro ad Q A33 M3 Road Shoreham n Snodland a Epsom s d v Birche Re tt eno Road e Woking d v Biggin Hill d M25 R oa o R um r d A22 R M20 ens Roa ms M26 ue aburn l Gr Q L E S A339 Famborough A3 A217 a Rd d he Sevenoaks n s T d d lm a Fleet A331 f E M25 o ALDERSHOT o Maidstone Kin r Upper R d Basingstokeo A24 g R o s Roa o d l Oxted a a C er d o t ALDERSHOT argate A d Reigate M23 R e R d N d limot a Wa o k Ha d o r R Dorking r A31 Redhill A22 A229 s t o l’ A26 M3 h Y e Guildford a h Famham L v ic a A21 en n M eorge’s Roat e u S Tonbridge G Newport Godalming e Roa St d 8 Horley Paddock B300 Royal Wood Staplehurst West C Gatwick Church Lane hurc Alton Tunbridge h Lane E Witley ast Cranleigh A264 Wells ill H h rc Crawley u Three Bridges A h e y C l 7 u North East Grinstead i 0 A264 n 0 g ven L 3 d O Horsham A22 A B a d n a a x A229 ld e o o e e R n C R Horsham fi d h n h A23 u m e r o c a n h t h A21 L R Hig a h n n r o g a e i LOCATION a r F E r d a B e s w t o AldershotL is a popular Hampshire commuter town Haywards Heath best known as being the home of the British Army. Burgess Hill The town is situated approximately 41 miles (66km) southwest of London, 8 miles (13km) south of Camberley and 11 miles (18km) west of Guildford. Aldershot benefits from excellent road communications being located at the junction of the A331 and the A31 which links the town to the M3 in the north and the M25 to the east. Rail communications are excellent with the town benefiting from regular services to London Waterloo with a fastest journey time of 47 minutes. London Heathrow Airport and London Gatwick Airport are located 21 miles (34km) to the north east and 26 miles (42km) to the east respectively. 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB Aldershot Aldershot © Crown Copyright, ES 100004106. For identification purposes only. Experian Goad Plan Created: 27/09/2017 Created By: Allsop 50 metres RETAILING IN ALDERSHOT SITUATION For more information on our products and services: Copyright and confidentiality Experian, 2017. © Crown copyright and www.experian.co.uk/goad | [email protected] | 0845 601 6011 Aldershot has a good retail offering for a town of its size The propertydatabase forms rights 2017. part OS of 10001988the Wellington5 Centre, the WELLINGTON CENTRE providing approximately 720,000 sq ft of retail space town’s main shopping centre, with frontage and access LOWER GROUND with the prime pitch being centred on The Wellington onto Wellington Street. Neighbouring occupiers include Centre and the pedestrianised Union Street and Brighthouse, Poundworld, HSBC, Wilko and Sports Direct. Wellington Street. There is a 400+ space car park within the Wellington Centre which acts as the town centre’s principal parking. The main bus station is also in close DEMOGRAPHICS proximity on Station Road. Major retailers in the town Aldershot has a primary catchment population of 115,000 include Boots, Peacocks, Argos, JD Sports, WH Smith, NAMASTE TRAVEL (Source: PROMIS) with the population expected to grow Superdrug, Vodafone, O2 Telephones, New Look and by 0.7% across the next 5 years. The population within a Clarks Shoes. Union Street and Wellington Street benefit 5 mile radius of the town is estimated to be circa 221,000 from an open market every Thursday. people. Aldershot comprises an affluent population with a significantly above average proportion of adults of working age categorized within the most affluent AB Social ANYTIME FITNESS Group. The level of car ownership is also significantly above the national average with a particularly high proportion of 2 car households. Experian Goad Plan Created: 03/10/2017 50 metres Created By: Allsop Copyright and confidentiality Experian, 2017. © Crown copyright and For more information on our products and services: database rights 2017. OS 100019885 www.experian.co.uk/goad | [email protected] | 0845 601 6011 5 LOW WALK, WELLINGTON CENTRE, ALDERSHOT, GU11 1DB DESCRIPTION The property comprises a large, well configured foodstore arranged over ground floor only. The unit benefits from frontage on to the pedestrianised Wellington Street. The unit forms part of the lower ground element of The Wellington Shopping Centre. Lidl has designated trolley bays in the 400+ space multi-storey car park above the Centre. This is accessible via 3 x high speed passenger lifts. The property provides a Gross Internal Area (GIA) of 1,285.8 sq m (13,841 sq ft). TENURE Leasehold. The property is held long leasehold from The Council of the Borough of Rushmoor for a term of 176 years from 1st September 1988 and expiring 31st August 2164. The yearly head rent is 10% of the net income as outlined in the headlease (copy available upon request) and the current head rent will be £19,890 per annum from 8th June 2020. The headlease has an unexpired term of approximately 144 years. TENANCY The entire property is let to LIDL UK GMBH on a 25 year full repairing and insuring lease from 8th June 2010 expiring on 7th June 2035 (approximately 15 years unexpired). The current gross rent from 8th June 2020 is £198,895 per annum and the net rent is £179,005 per annum. The lease has fixed rent reviews every five years with the gross rents outlined below: 8 June 2025: £236,217 p.a. (Net - £212,596 p.a.) 8 June 2030: £280,562 p.a. (Net - £252,506 p.a.) The tenant has an option to break at the end of either the 15th (June 2025) or 20th (June 2030) year of the term. COVENANT INFORMATION Lidl originated in Germany with its first store opening in 1973 and has grown to become one of Europe’s leading food retailers. The first Lidl UK opened in 1994 and currently has over 760 stores and 13 distribution centres across Great Britain employing over 20,000 people. Lidl has recently announced that they will be investing £500m over the next 5 years to open 40 new stores in the South East and create a new UK Head Office in South West London generating a further 1,500 new jobs. As of late 2019, Lidl had a 5.9% share of the UK grocery spending, an increase from the previous year of 5.4% overtaking Waitrose. LIDL UK GMBH has the following financial information: 28 Feb 2018 28 Feb 2017 29 Feb 2016 (‘000s) (‘000s) (‘000s) Sales Turnover €46,086,000 €41,526,000 €38,277,000 Profit Before Taxes €1,684,000 €1,709,000 €2,114,000 Tangible Net Worth €10,587,000 €9,943,000 €8,929,000 SERVICE CHARGE EPC The unit contributes to a service charge for the Wellington Centre.
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