Co-Operative Supermarket Investment Longmoor Lane, Fazakerley, Liverpool L9 9HS Co-Operative Supermarket Investment, Longmoor Lane, Fazakerley, Liverpool L9 9HS 2 Investment Summary Situated in a densely populated residential area Covenant is rated by D&B as 5A1 and has an Experian Delphi Rating 100 (Low Risk) Excellent frontage on to Longmoor Lane (A506) linking to Junction 6 of M57 (1.5 miles) 13.6 years remaining on an FRI lease (Unbroken) In close proximity to Fazakerley train station and the Aintree Current rent of £231,599 per annum (£14.47 psf) University Hospital with 4,500 employees 5 yearly upward fixed uplifts at 2.25% compound 16,000 sq ft Gross Internal Area Freehold Large site extending to 1.3 acres with 60 car parking spaces and a low site cover of just 25% Offers in excess of £3,600,000 (STC) Let to Co-Operative Foodstores Limited (Guarantee – Co- Attractive Net Initial Yield of 6.04% Operative Group Limited) Co-Operative Supermarket Investment, Longmoor Lane, Fazakerley, Liverpool L9 9HS 3 A570 A5209 A58 BOLTON ORMSKIRK A49 FORMBY A666 SKELMERSDALE Fazakerley A59 WIGAN A58 M61 Fazakerley is a suburb of North Liverpool with neighbouring districts M60 including Aintree and Kirby. Fazakerley has a local population of 16,786 and a A565 M58 wider district population of over 600,000. A570 M6 A579 CROSBY Fazakerley A580 The property is situated prominently on the A506 Longmoor Lane which is accessed directly off Junction 6 of the M57 motorway 1.5 miles to the A580 23 east. The property is within close proximity to both Fazakerley train station MANCHESTER A59 ST HELENS M57 M62 and the Aintree University Hospital with 4,500 employees and a dedicated A58 occupational health centre providing support for over 20,000 NHS staff A5058 M60 A57 A570 10/21A across the North West. 1 A57 LIVERPOOL 2 M62 A56 9 The immediate location is predominantly residential in character with a 1/6 WARRINGTON 21 BIRKENHEAD A57 primary school adjoining. HOYLAKE A557 A34 A562 WIDNES A50 M56 6 Manchester A41 A561 River Mersey 9/20 Airport Liverpool A565 Airport Kirby M53 HESWALL RUNCORN 11 M57 AINTREE 12 WILMSLOW River Dee A49 M6 Dunnings Bridge Rd 5 Longmoor Lane Seaforth A580 GREENFIELD NESTON A580 A54 Fazakerley A533 A548 ELLESMERE A59 Knowsley PORT A565 NORTHWICH FLINT A580 M57 11/15 Bootle WALTON A5117 Queens Dr A5119 A556 CONNAH’S A34 TheQUAY property is situated prominently on the A506 Longmoor Lane A565 A54 WINSFORD A59 A5089 Prescot Everton d A5049 l R which is accessed directly off Junction 6 of the M57 motorway rpoo VAUXHALL Live E Prescot Rd Huyton FAIRFIELD Kingsway Tunnel Liverpool A5080 M62 M57 ROPEWALKS WAVERTREE M62 Queensway TunnelBALTIC TRIANGLE A562 BELLE VALE Birkenhead Queens Dr A561 A552 A562 M57 WOOLTON Halewood River Mersey A561 A562 A562 A41 Bebington Garston A561 Speke Co-Operative Supermarket Investment, Longmoor Lane, Fazakerley, Liverpool L9 9HS 5 %$ 5/ 2 : 6/ $ 1( 7UDFN 13.6 Pyears unexpired to 5A1 covenant &KLOGUHQV&HQWUHEPC Tenure %DUORZV The EPC will be provided upon request. Freehold (Title number: MS343386). 3OD\$UHDIMAGE PLACEHOLDER 3ULPDU\6FKRRO :DOWRQ$OORWPHQW Tenancy *DUGHQV$VVRFLDWLRQ /21*0225/$1( &OXE The property is to be let to Co-Operative Foodstores Limited on a full repairing and insuring terms for a term of 6KHOWHU 25 years from 14th September 2006, expiring 13th September 2031. The lease is guaranteed by Co-Operative P 6KHOWHU Group Limited. P 7&% /% W R 6(9(1 32 The initial rent of £185,398 per annum was subject to fixed rent reviews every 5 years to 111.7677% of the UU\OHD 'H 7 OHD + previous rent (reflecting a compounded increase of 2.25% per annum). The current rent payable is £231,599 per HUU\ $9(1 ' 8 6 annum (£14.47 psf) which is subject to further review on 14 September 2021 and 2026 to £258,853 per annum ( , ; 7 +$9(18 (£16.17 psf) and £289,314 per annum (£18.08 psf) respectively. ) , ) 7+ ( Description $ )2 9 ( 8 The investment therefore offers an unbroken term certain to expiry of 13.6 years 18 The property comprises a single storey purpose5 built 1980’s food store. It is 7+ ( $ 9 of steel frame construction with brick elevations( under a profiled metal clad 1 8( P P pitchedP roof. P 7 The2UGQDQFH6XUYH\ property&URZQ&RS\ULJKW$OOULJKWVUHVHUYHG/LFHQFHQXPEHU sits on a large3ORWWHG6FDOH rectangular site which provides a generous car parking area to the front for in excess of 60 vehicles. Loading is provided to the side elevation. Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition). The property has the following approximate gross internal areas: Co-Op Sq m Sq ft Sales area 1,178 12,684 Ancillary 311 3,318 Total 1,489 16,002 The property occupies a site of approximately 0.52 hectares (1.3 acres) which provides a low site cover of approximately 25%. Co-Operative Supermarket Investment, Longmoor Lane, Fazakerley, Liverpool L9 9HS 6 Covenant Status The Co-operative Group Ltd which was established in 1844 and now operates 4,500 outlets with almost 90,000 employees and has an annual turnover of £10.50 billion. The Co-operative Group is the UK’s 5th largest food retailer with almost 2,800 local, convenience and medium sized stores employing over 69,000 people. The company has been undertaking a rationalisation of its stores over the last 24 months with the disposal of a number of its larger stores and smaller stores (McColls disposal) with the focus on retaining and expanding the convenience stores within its estate. The company opened over a 100 new convenience stores in 2016 at a cost of £70m. A summary of Co-operative Group Limited accounts is set out below. Co-Operative Group Ltd 31/12/2016 31/12/2015 Turnover £9,472,000,000 £9,201,000,000 Pre Tax Profits £132,000,000 £23,000,000 Shareholder Fund £3,029,000,000 £2,937,000,000 Experian Delphi Rating 100 (Very Low Risk) Dun & Bradstreet Rating 5A1 Further information is available at www.co-operativefood.co.uk Jointly owned by over 7.9M individual members with over 4,500 retail outlets throughout the UK VAT The property is elected for VAT and therefore VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a TOGC. Proposal We are seeking offers in excess of £3,600,000 for our client’s freehold interest subject to contract and exclusive of VAT. A purchase at this level reflects the following yield profile, after deducting purchase costs. Net Initial Yield: 6.04% Reversionary Yield (2021): 6.75% Reversionary Yield (2026): 7.55% Capital Value: £225 psf For further information or to arrange an inspection, please contact: Christopher Dee James Kinsler Mark Powell 40 Peter Street Tel: 07825 870209 Tel: 07825 077724 Manchester Email: [email protected] Email: [email protected] M2 5GP MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee LLP nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. January 2018..