WELL LET RETAIL PARADE WITHIN BUSY BUSINESS PARK CREWE GREEN, BESWICK DRIVE, CREWE CW1 5NP INVESTMENT SUMMARY • Well let retail parade in a popular and busy • Situated within regionally significant • AWULT of 3.33 years business park employment area in Crewe • Freehold • Modern building on large site of 0.57 acres • Total area of 5,672 sq ft • Total rental income of £99,500 per annum with generous car parking • Fully let to the strong covenants of Co- • Offers in excess of £940,000 (STC) • Prominent location on roundabout adjacent operative Group Food Limited, Subway to large Travelodge Hotel Realty Limited and also a local independent • Net initial yield of 10.02% WELL LET RETAIL PARADE CREWE GREEN WITHIN BUSY BUSINESS PARK BESWICK DRIVE, CREWE CW1 5NP BLACKPOOL M55 M65 LEEDS M1 M6 BRADFORD A1(M) PRESTON M621 BLACKBURN M65 M62 SOUTHPORT HUDDERSFIELD M66 M61 M62 M1 BARNSLEY M58 MANCHESTER M57 M60 LIVERPOOL LOCATION M62 STOCKPORT WARRINGTON BIRKENHEAD SHEFFIELD Crewe Green is located in Crewe, a Cheshire town with A34 M53 A523 a population of approximately 72,000 people, rising M56 WILMSLOW to 379,000 for the borough. Located 35 miles south of MACCLESFIELD A537 Manchester, the town is well connected by road and BUXTON A55 particularly by rail where Crewe Station acts as a major A34 interchange on the West Coast Main Line, with regular trains A54 A523 CHESTER MIDDLEWICH A53 M1 to London. CONGLETON M6 The Office for National Statistics recently revealed that CREWE Cheshire and Warrington’s economy grew faster than NANTWICH A500 anywhere else in England, with the highest growth of any A5 WREXHAM local authority in England and Wales. The £30.9bn economy STOKE-ON-TRENT A5 A52 WHITCHURCH is 40% higher per capita than the North West as a whole, and A51 NOTTINGHAM 21% above the UK average. Furthermore Cheshire East has A41 DERBY A50 the highest level of output per head in the sub-region. M6 BURTON A5 A515 STAFFORD UPON TRENT SITUATION HUNGERFORD RD LOUGHBOROUGH A38 The property sits within Crewe’s primary commercial hub, A41 SHREWSBURY CANNOCK with several industrial and office estates sitting alongside M42 M1 TELFORD each other. The 67 acre Crewe Business Park, 12 acre Crewe M54 TAMWORTH LEICESTER Gates Industrial Estate, 20 acre Crewe Hall Enterprise Park CREWE CREWE GREEN and the planned 1.1million sq ft of warehouse space at WOLVERHAMPTON M6 M6 Toll MMU CHESHIRE Crewe Commercial Park represent a regionally important STUDENTPAD M42 NUNEATON M69 employment centre. BANNATYNE HEALTH CLUB As such there is a significant catchment in the area for A532 BIRMINGHAM M6 MMU TRAVELODGE A5020 UNIVERSITY WAY CHESHIRE CAMPUS CREWE GREEN RD CREWE weekday lunchtime and evening trade, with little competition COVENTRY outside of a Spar. Furthermore, the University of Buckingham KIDDERMINSTER have signed a landmark deal to open their new health M42 CREWE RD science campus directly behind the property. M5 M40 ELECTRA WAY CREWE RD CREWE GATREWAY WESTON RD WELL LET RETAIL PARADE CREWE GREEN WITHIN BUSY BUSINESS PARK BESWICK DRIVE, CREWE CW1 5NP CREWE HALL CREWE GATES ENTERPRISE PARK CREWE BUSINESS PARK INDUSTRIAL ESTATE MANCHESTER METROPOLITAN UNIVERSITY CREWE CAMPUS JAGUAR TRAVELODGE CREWE GREEN A534 (UNIVERSITY WAY) CREWE GREEN RD DESCRIPTION & ACCOMMODATION The property comprises a modern retail terrace split into 4 units of traditional brick construction with a pitched profile metal roof. The property sits on a large site of c. 0.57 acres (0.023 hectares) and includes car parking for 15 vehicles to front of the property. Customer access is provided directly off Beswick Drive, with deliveries to the rear. The Co-op convenience store is fit out in the retailers latest branding, as is the Subway. The independent retailer operates as a Chinese restaurant and takeaway. TENURE Freehold. TENANCY The property is let in accordance with the tenancy schedule provided below: LEASE LEASE RENT RENT (PER ERV (PER UNIT TENANT AREA TERM RENT (PSF) ERV (PSF) COMMENTS START EXPIRY REVIEW ANNUM) ANNUM) Co-operative Group 1 2,840 sqft 21/10/2006 15 20/10/2021 21/10/2021 £42,500 £14.96 £45,000 £15.85 Tenant option to renew lease for 15 years. Food Limited Co-operative Group 2 944 sqft 21/10/2006 15 20/10/2021 21/10/2021 £15,000 £15.89 £15,000 £15.89 Tenant option to renew lease for 15 years. Food Limited Subway Realty Renewal lease, tenant in occupation since 2006 demonstrating 3 944 sqft 08/12/2006 20 07/12/2026 08/12/2021 £21,000 £22.25 £21,000 £22.25 Limited commitment to the unit. Rent reviewed upwards only to OMRV. 4 Private Individual 944 sqft 20/03/2007 15 19/03/2022 20/03/2022 £21,000 £22.25 £21,000 £22.25 Rent review in 2017 agreed at £21,000 pa. Total / Average 5,672 sqft - - - - £99,500 £17.54 £102,000 £17.98 AWULT to Expiry: 3.32 WELL LET RETAIL PARADE CREWE GREEN WITHIN BUSY BUSINESS PARK BESWICK DRIVE, CREWE CW1 5NP COVENANT Co-operative Group Food Limited (Company Number: 26715R) is a wholly owned subsidiary of The Co-operative Group Limited 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. Co-operative Group Food is the UK’s 5th largest food retailer with almost 2,800 local, convenience and medium sized stores employing over 69,000 people. Furthermore existing arrangements with independent co-operative societies means they supply more than 7,700 stores. In the first half of 2018 the group opened 45 new stores and created 600 jobs, and with the acquisitions of Nisa and a 5-year deal to supply Costcutters, the company has seen significant recent growth. A summary of Co-operative Group Food Limited accounts is set out below. Co-Operative Group Food Limited 5th January 2019 6th January 2018 31st December 2016 Turnover £7,185,200,000 £6,940,200,000 £6,933,400,000 Pre-tax Profits £207,900,000 £232,500,000 £154,200,000 Shareholder Funds £1,970,500,000 £1,875,100,000 £1,805,400,000 Subway Realty Limited (Company Number: 04174473) is a wholly owned subsidiary of Subway International Holdings BV and the primary leasing entity for the Subway sandwich restaurants. Subway serves its sandwiches from over 42,000 locations across 112 countries, and in the UK and Ireland alone has more than 3,000 locations making it the largest fast food outlet in the country. A summary of the company’s latest accounts is provided below: Subway Realty Limited 31st December 2017 31st December 2016 31st December 2015 Turnover £35,424,835 £33,266,345 £31,962,917 Pre Tax Profits £1,741,628 £1,385,920 £1,468,208 Shareholders Funds £4,337,408 £2,933,924 £1,826,816 Indicative internal photographs WELL LET RETAIL PARADE CREWE GREEN WITHIN BUSY BUSINESS PARK BESWICK DRIVE, CREWE CW1 5NP PROPOSAL FURTHER INFORMATION We are instructed to quote offers in excess For further information or to arrange an inspection, please contact: of £940,000 exclusive of VAT and subject to Daniel Campbell Tel: 07741 593 968 contract. A purchase at this level reflects the Email: [email protected] following yield profile after deducting purchase Christopher D Bathurst costs of 6.43%: Tel: 07957 138 003 Email: [email protected] 10.02% Net Initial Yield Christopher Dee: 40 Peter Street, Manchester M2 5GP 10.27% Estimated Reversionary Yield £166 Capital Value ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. 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 transfer of a MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details going concern. 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 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 ENERGY PERFORMANCE CERTIFICATE 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 A copy of the EPC can be provided upon request. tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. September 2019..