ROM VALLEY WAY RETAIL PARK ROMFORD RM7 0AE PRIME GREATER LONDON RETAIL PARK INVESTMENT OPPORTUNITY 01 ROM VALLEY WAY RETAIL PARK ROMFORD RM7 0AE INVESTMENT SUMMARY ■ Romford is a town located in Greater London, within the London Borough ■ The subject property consists of five units, totalling 67,884 ft² across four retail of Havering. The town is located approximately 16 miles north east of warehouse units and a restaurant. Central London and 18 miles south west of Chelmsford. ■ The property is fully let on five FRI leases and currently produces a total rent ■ Within a 10 minute drive time of the subject property, CACI estimate the of £1,324,829 pa, reflecting £17.29 – £23.38 per ft² on the retail warehouse population to be 319,270. This increases to 831,969 within the 20 minute space and £23.69 per ft² on the restaurant. drive time catchment. ■ The retail park has a weighted average unexpired term of 11.2 years to expiry ■ The property is situated just south of the town centre and shares a road junction and 10.6 years to breaks. with the access to Queen’s Hospital. There is also a Morrisons/Residential development diagonally opposite. ■ We are instructed to seek offers in excess of £20,030,000 (Twenty Million and Thirty Thousand Pounds) for this freehold interest, subject to contract. A purchase at this level would reflect a net initial yield of 6.25%, assuming purchaser’s costs of 5.80%. PRIME GREATER LONDON RETAIL PARK INVESTMENT OPPORTUNITY 02 TOWN CENTRE THE BREWERY RESIDENTIAL DEVELOPMENT SITE HOMEBASE MORRISONS/RESI DEVELOPMENT SNOW AND ROCK ROM VALLEY WAY QUEEN’S HOSPITAL ROM VALLEY WAY RETAIL PARK A10 03 ROM VALLEY WAY RETAIL PARK ROMFORD RM7 0AE A414 PETT ITS A12 L M25 A N E 26 C N O 27/6 L L I E R 5 7 R 1 O B W Loughton Enfield L A N E M25 M11 A10 East M A V A Barnet Chigwell N E P Y E T R T D A406 O A I O 28 A T R Woodford D S IN A406 A L A M SITUATION A12 N 1 E A A12 1 A127 8 2 1 5 A12 1 A Rom Valley Way Retail Park is located in a prominent A1 Romford 29 A503 A12 position on the A125 (Rom Valley Way), adjacent to a WARDS ED W A10 Ilford Upminster ST 2 2 40,097 ft Homebase and a 8,500 ft Snow + Rock unit. A406 W MAV S Stratford NEY RO D AD R Dagenham A The property is opposite Queen’s Hospital and a Barking W D S E D T G M25 S A501 Y foodstore / residential development site. A11 R A12 U Rainham C A13T Romford R A1020 E W M A A5 T A1203 Poplar LONDON E A13T D A R O London N R L S LONDO O The retail park is within walking distance from the town 30 O D City Airport G A100 R D E O L R centre, with the train station being located 800 metres U A102 Belvedere H Thur T 1 31 125 A202 A205 A to the north and the main high street approximately one A2 D H R RC A282 HU A3 C R ROM VALLEY WAY D O kilometre to the north. East A20 L M O Bexleyheath V RETAIL PARK 1A A Dulwich L L E Y OW LN A2 Dartford W 1B A A205 Y A20 Sidcup 2 AD REEN RO SH G RU HORNCHU A23 RCH M25 ROAD Bromley 4 A12 LOCATION Romford is a town located in Greater London, within the London Borough of Havering. The town is located approximately 16 miles north east of Central London and18 miles south west of Chelmsford. The town benefits from excellent road and transport communications. The A12 runs to the north of the town, providing a direct route to central London and Chelmsford. Romford also benefits from easy access to the M25 at Junction 28, located 5 miles to the north east of the town. Romford is easily accessible via train. Greater Anglia trains provide services from Romford to London Liverpool Street in a journey time of approximately 25 minutes. London City Airport is located 10 miles to the south west of Romford. London City airport provides flights to a number of European destinations, serving approximately 3.3 million passengers a year. PRIME GREATER LONDON RETAIL PARK INVESTMENT OPPORTUNITY 04 DESCRIPTION The subject property consists of five units, built over three phases and totals 67,884 ft² of gross internal retail and restaurant floor space. Phase one was built in 1988 and included units 1 and 2, phase two was built in 1998 and included units 4 and 5, and phase three involved construction of the Pizza Hut unit in 2005. AREA UNIT TENANT M² FT² 1 MOTHERCARE UK LIMITED 2,772.5 29,843 2 CARPETRIGHT PLC 1,079.9 11,624 3 PIZZA HUT (UK) LIMITED 309.8 3,335 4 B&M RETAIL LTD 1,208.8 13,011 DEMOGRAPHICS 5 PETS AT HOME LIMITED 935.6 10,071 Within a 10 minute drive time of the subject property, CACI estimate the population TOTAL 6,306.6 67,884 to be 319,270. This increases to 831,969 within the 20 minute drive time catchment. The population is forecast to grow as follows: B&M are currently fitting out unit 4 and are looking to open for Christmas trading. DRIVETIME FROM ROM VALLEY WAY RETAIL PARK The site comprises approximately 4.29 acres (1.73 ha) giving a site cover of 36.3%. 5 10 15 20 30 GB MINUTES MINUTES MINUTES MINUTES MINUTES AVERAGE The retail park benefits from 260 car parking spaces, which equates to a car parking ratio of 1:261 ft2. 5 year Population Growth 2014-2019 5.8% 6.9% 7.3% 7.2% 5.7% 2.8% 10 year Population Growth 2014-2024 11.2% 13.2% 14.0% 13.6% 11.1% 5.1% Within a 20 minute drive time, gross family income is above average, with 74.5% of households earning over £30,000 per annum, compared to a national average of 61.9% (CACI). 05 ROM VALLEY WAY RETAIL PARK ROMFORD RM7 0AE 9 A12 4 RETAIL WAREHOUSE PROVISION B A L G O D R IN ROMFORD: A E A12 S O R 1 L 5 NORT D N D A O O 2 R O Retail warehouse supply in and around the town is estimated at 1.12m ft² IN W A T H ST M N (Trevor Wood). E 3 18 R 1 B A R P The map opposite illustrates the main retail warehousing schemes in Romford: P U D ■ N R ME AVE Rom Valley Way cluster - Immediately to the north of the subject property there TO RL RHOL CA AI F is a Homebase and Snow & Rock which total 48,500 ft² of retail warehousing. RD N EATH PARK RD Rents are £18.35 and £18.25 per ft² respectively. R H TE S S LE A E W AD ■ RO INS The Brewery - This mixed use retail and leisure development totals some IA 6 R TO L VIC N 530,000 sq ft. The retail element benefits from an open A1 non food consent. W Occupiers on the scheme include TK Maxx, Hobbycraft, Gap, JD Sports, Home A T ERLOO Sense and Boots and it is anchored by a Sainsbury’s foodstore. Rents on 10,000 ft² OAD S R D NDON N A C units are around £30 per ft². L O D O R R A G N D H RD Romford O AM E O RO O W A L ENT D ■ R BR O Eastern Avenue Retail Park – This bulky goods park comprises some U SB H OR 5 T NE A12 RO 110,000 sq ft with occupiers including Currys, PC World, Dunelm, Carphone AD A 1 7 Warehouse and Poundstretcher. Top rents for the retail warehousing is in the region 2 5 R O of £23.00 per ft². M 5 D S ROM VALLEY WAY O A V R RCH A O CHU L D U OL L RETAIL PARK ■ E Matalan, North Street - This is a stand alone unit on the north side of the town centre T Y W H A S comprising 39,640 ft² let at £16 per ft². Y T 8 ■ Gallows Corner Retail Park - This 92,000 sq ft bulky goods scheme includes Halfords, N ROAD USH GREE HOR AD Furniture Village, DFS, Magnet, Harveys, Next and Argos Extra. Top rents are around 124 R NCHURCH RO A £35 per ft². ■ B&Q Warehouse, Gallows Corner – This property sits diagonally opposite Gallows Corner Retail Park on the A12 and comprises 72,000 ft². The passing rent is £18.50 per ft². 1 Dunelm 4 Gallows Corner Retail Park 7 Homebase ■ B&Q Warehouse, Roneo Corner – Just to the south of the subject property on 2 Eastern Avenue Retail Park 5 Snow + Rock 8 B&Q Warehouse Hornchurch Road, and adjacent to a Tesco Extra, this is a standalone B&Q 3 Matalan 6 The Brewery 9 B&Q Warehouse Warehouse of 102,000 ft², with a passing rent of £18.25 per ft². PRIME GREATER LONDON RETAIL PARK INVESTMENT OPPORTUNITY 06 THE MALTI Th e Seedbed Centre PLANNING El Sub Sta Units 1 and 2 (Mothercare and Carpetright): The Seedbed Centre These premises shall not be used other than for the retail sale of the following: ■ Home improvement products: “Do It Yourself” goods ■ Hardware and plumbing, building supplies ■ Furniture, furnishings ■ Carpets and floor coverings ■ Electrical goods ■ Motor accessories ■ Garden and associated products and ancillary items ■ and/or the occupation by Children’s World (now Mothercare) for the sale of any combination of maternity wear, baby goods, children’s shoes and clothes, toys and educational crafts, books, party equipment, furniture and furnishings and ancillary uses.