DFS SWANSEA NEATH ROAD, MORRISTON, SA6 8ER LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY INVESTMENT CONSIDERATIONS n Freehold n Current rent of £561,249 per annum n Offers sought in excess of £5,850,000 (Five Million n Prominently located close to Junction 45 of the M4 n Unexpired lease term of over 12.9 years Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This reflects an n Purpose built unit comprising 22,803 sq ft n The only DFS Store serving West Wales attractive net initial yield of 9.00%, after allowing for n with the nearest store being located in Cardiff Let to the D&B rated 5A1 covenant of DFS Trading Limited purchaser’s costs of 6.63%. DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY Swansea Marina A46 Great A438 Malvern Eversham Cardigan A4103 M4 A449 Jct. 47 A487 A470 Hereford A46 LOCATION A483 A4172 A4 Pembrokeshire 8 A424 The city of Swansea is the second largest city in Wales Coast A49 National Park A438 Clase Brecon and is located on the northern shores of the Bristol M4 A40 A479 M50 A417 A40 A40 Ross-on-Wye Channel. Swansea is located approximately 66km (41 Morriston St Davids A465 Cheltanham LLANSAMLET A40 Llanbody k A4137 miles) north west of Cardiff, 103 km (64 miles) west of A40 al Par A40 Camathen ation GLOUCESTER Brecon Beacons N A429 Newport and 129 km (80 miles) west across the River A40 A40 7 6 A483 Abergavenny ean 0 A40 rest of D Severn from Bristol. 4 Fo A A48 3 A417 0 A465 NB 6 A477 s AO 4 A470 otswold B Ferryside The C B Winch Wen Swansea has good road and rail communications with 4 Merthyr 4 Plasmarl 8 Stroud 9 Y Tydfil Penlan A the M4 motorway passing 4 miles (6.5km) to the north, W M5 G Cirencester N A48 O 7 T A449 providing access to Cardiff, Bristol and London to the 1 M4 A465 N 2 4 Llanelli Liberty Stadium A A N Pembroke Tenby Neath A433 A419 east and Llanelli to the west. Bon-y-maen Gorseinon Dock Chepstow Manselton SWANSEA Swansea railway station provides regular and direct 20 mins 30 mins 40 mins 1 hour A429 Llangenneth M48 Cwmbwria 3 Pontypridd 0 6 Port Talbot services to Cardiff, Newport and Bristol with fastest 4 The Mumbles A B Caerphilly 4 A470 8 3 A433 SWINDON journey times of 52 minutes, 75 minutes and 95 minutes A403 Chipping M49 Sodbury respectively. The railway station provides regular direct M4 A48 A48(M) Avonmouth M4 Pontshead M39 services to London Paddington with a fastest journey CARDIFF SWANSEA St Thomas A4 A46 A4232 Chippenham time of approximately 3 hours 5 minutes. Port Tennant A420 Penarth BRISTOL A4 M5 SWAEA 3 A48 Cardiff 18 Bristol A4 A41 Barry A38 A350 A37 BATH 67 Weston-super-Mare A38 A40 DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY DFS EATH OAD, MORR ISTON, SWANSEA, SA6 8ER 1 1 5 1 3 5 1 7 1 9 2 2 2 5 4 7 6 5 7 1 5 5 SITUATION ACCOMMODATION 6 3 The property is prominently situated on the western side of Neath Road Description Sq M Sq Ft 5 7 (A4067), approximately 0.6 miles south of the M4 (junction 45) and Retail Unit 2,118.47 22,803 approximately 5.5 miles north of Swansea city centre. The A4067 is the Playground principle access from Swansea City Centre to the M4 Motorway and the store’s location less than one mile from the M4 provides the store with DESCRIPTION excellent access to the wider region. The property comprises a modern style detached retail warehouse of portal frame construction. Internally the property has been fitted out as a furniture CATCHMENT AND DEMOGRAPHICS showroom with suspended ceilings, lined walls and predominantly carpet tile The primary retail catchment area for Swansea is 553,000 with an estimated floor coverings to public areas. shopping population of 273,000 (PROMIS). The retail store has three loading bays to the rear of the warehouse There were 4.56 million visitors to Swansea in 2015 (Source: Swansea and includes approximately 87 car parking spaces and a service yard for City Council), with an estimated expenditure of around £400 million. It is deliveries. 4 3 11.3m estimated that around 5,700 jobs are supported by tourism in Swansea. The property has a site area of approximately 0.73 acres (0.3 hectares). 22 Salem Gospel Hall 7 6 0 4 A 2 © Crown Copyright,Ivy Cott ageESs 100004106.1 For identification purposes only. 5 4 3 4 2 R PE NRY 4 0m 1m 2m 3m B Ordnane Survey Crown Copyright 213. All rights reserved. Licence number 1022432. Plotted Scale - 1:1250 DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY TENANCY COVENANT PLANNING The property is let to DFS Trading Limited for Since opening its first store in 1969, DFS has grown DFS Trading Limited - Dun & Bradstreet 5A1 The unit has planning permission a term of 25 years from 24 March 2005 to and to 105 stores in the UK, Republic of Ireland and the for the sale of bulky goods. including 23 March 2030. The rent is £561,249 Netherlands. 01 August 2015 02 August 2014 27 July 2013 (£000’s) (£000’s) (£000’s) per annum, reflecting £24.61 per sq ft. DFS Trading Limited (Company Number: 01735950) TENURE There are further open market reviews on 24th is a wholly owned subsidiary of DFS Furniture Company Turnover £729,900 £690,000 £670,800 Freehold. March 2020 and five yearly thereafter. Ltd which itself is a wholly owned subsidiary of Pre-Tax Profit £65,700 £64,200 £70,600 DFS Furniture plc. Total Net Worth £45,300 £66,000 £49,100 DFS Furniture plc announced for the 26 weeks ended 28 January 2017 the following results: group revenue increased 6.8% to £379.9m, EBITDA increased 4.5% to £32.4m and profit before tax increased by 3.1% to £16.7m. EPC PRICING Available upon request. We are instructed to seek offers in excess of £5,850,000 (Five Million Eight Hundred and Fifty Thousand VAT The property is elected for VAT, it is assumed the transaction Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 9.00%, will be treated as a Transfer of a Going Concern (TOGC). after allowing for purchaser’s costs of 6.63%. FOR FURTHER INFORMATION PLEASE CONTACT: Dale Johnstone Lottie Hayward Paddy Hales Marcus De Minckwitz 020 7543 6796 020 7543 6750 0117 9102 203 020 7409 8755 [email protected] [email protected] www.allsop.co.uk [email protected] [email protected] www.savills.com Misrepresentation Act: 1. Allsop LLP and Savills on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Savills is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the instructing party does not make or give, and neither Allsop or Savills nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: Command D - www.commandHQ.co.uk 04.17.