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lsh.co.uk
FOR SALE BUSINESS OPPORTUNITY & PROPERTY PORTFOLIO
MULTIPLE COVERED MARKETS
Wellington Market Shropshire • Morley Leeds Market West Yorkshire • Luton Bedfordshire
lsh.co.uk
M1M6
M6
M5 M40
M62M62
A1(M)
A1(M)
TOLLM54
M1
M4M4
M5M3 M20
M25
M11
M6
Birmingham
Sheffield
Derby
Manchester
Bristol
Norwich
Oxford
London
Coventry
Carlisle Newcastleupon Tyne
Middlesbrough
Liverpool
Plymouth
SouthamptonBournemouth
Dover Folkestone
LEEDS
WELLINGTON
LUTON
WolverhamptonNorthampton
02lsh.co.uk Wellington Market Shropshire • Morley Leeds Market West Yorkshire • Luton Bedfordshire
SUMMARY The property portfolio comprises over
150,000 sq. ft. (GIA) of retail, residential
and storage accommodation.
Two freehold interests (Wellington
and Morley). One long leasehold
interest (Luton).
Gross rental income in the order of
£1,300,000 per annum.
Active asset management and
re-development opportunities.
Property portfolio break-up proposals
will be considered.
LOCATIONSon behalf
Morley Indoor MarketQueen StreetMorley Leeds
West Yorkshire LS27 6D
26A-40Market Street
Wellington Shropshire
TF1 1DT
The Indoor & Outdoor Market
5-19 Market Street 5 & 6 Market Approach
29 Market Street Wellington
Shropshire TF1 1DT
Luton Indoor MarketThe Mall Shopping CentreLuton Bedfordshire LU1 2TA
Ironbridge GorgeMuseum Trust
M54M54
A518
A442
A458
A458
A5A5
A53 A41
A41
A41A49
A49
A5
A5
J7 J6
J3
Shrewsbury
Telford
Wellington
03lsh.co.uk 26A-40 Market Street • The Indoor & Outdoor Market • 5-19 Market Street • 5 & 6 Market Approach • 29 Market Street Wellington Shropshire TF1 1DT
WELLINGTON LOCATIONSThe properties comprise two distinct
elements as indicated on the enclosed plan.
The properties are located in the centre
of Wellington. 26A – 40 Market Street
is situated immediately to the north of
Market Street. The Indoor & Outdoor Market, 5-19 Market Street, 5 & 6 Market
Approach and 29 Market Street is situated
immediately to the south of Market Street.
The properties are situated in an
established retail area within the town.
The Indoor Market adjoins the
pedestrianised area of Market Square
on the eastern boundary. The southern
boundary is defined by Rowland Gate.
Wellington is located to the north west of
the West Midlands, being approximately
37 miles north west of Birmingham and
13 miles east of Shrewsbury. Telford town
centre is approximately 5.5 miles to the east.
Red line – Freehold site
04lsh.co.uk 26A-40 Market Street Wellington Shropshire TF1 1DT
26A - 40 Market Street, Wellington,
Shropshire. TF1 1DT.
The property comprises an unbroken
terrace row of 7 self-contained ground
floor retail units with residential
accommodation at first floor level. The
retail units are fully let.
The retail units are of a similar
specification and range in size from 461
sq. ft. to 672 sq. ft. Each retail unit has a
glazed façade fronting onto Market Street.
There are 10 self-contained residential
bedsit units situated at first floor level
(28 A-E Market Street & 36 A-E Market
Street). The residential accommodation
is independently accessed via two doors
situated at street level.
28 A-E Market Street is currently vacant
and requires minor refurbishment works
prior to being capable of occupation.
DESCRIPTION
Red line – Freehold site
05lsh.co.uk The Indoor & Outdoor Market • 5-19 Market Street • 5 & 6 Market Approach • 29 Market Street Wellington Shropshire TF1 1DT
Wellington Indoor & Outdoor Market, 5-19 Market Street, 5 & 6 Market
Approach and 29 Market Street,
Wellington, TF1 1DT.
Wellington Indoor & Outdoor Market comprises an interconnected indoor
and covered outdoor market which
accommodates approximately 120 market
pitches. The market pitches are let to a
variety of traders on predominantly licence
basis. The property comprises a substantial
part brick and part steel framed building.
Situated to the western elevation there
is an open air Piazza area which can be
accessed from Market Street or the indoor
market. The property, 29 Market Street, is
a café with outdoor seating area situated
within the Piazza area.
To the front of the property and fronting
onto Market Street there are six self-
contained retail units being 5-19 Market
Street. These properties form the front
elevation of the indoor market. Four of
the retail units have a rear access into the
indoor market.
DESCRIPTION
5 & 6 Market Approach are situated to
the east of the indoor market and front a
pedestrianised area. 5 Market Approach
comprises a ground floor café with
ancillary storage accommodation on the
first floor. 6 Market Approach comprises a
place of worship situated at first floor level.
06lsh.co.uk 26A-40 Market Street • The Indoor & Outdoor Market • 5-19 Market Street • 5 & 6 Market Approach • 29 Market Street Wellington Shropshire TF1 1DT
At a glance;
26A-40 Market Street.
Current gross rental income - £81,090 per annum.
Potential gross rental income when fully let - £101,090 per annum.
The Indoor & Outdoor Market, 5-19 Market Street, 5&6 Market Approach and 29 Market Street.
Current gross rental income - £385,479 per annum.
Potential approximate gross rental income when fully let - £455,000 per annum.
TENANCY INCOME SUMMARY
EPCPLANNING
TENURE
Copies of the EPCs are available in the data room.
We understand that the property has planning consent for its existing uses. Interested parties are to rely upon their own enquiries with Telford & Wrekin Council.
Freehold.
SERVICESWe understand that the 7 retail units within 26A-40 Market Street have independent utilities supplies and meters. Tenants are responsible for their own utilities costs.
We understand all mains services are available. These services have not been tested. Interested parties should rely upon their own enquiries.
Copies of the tenancy schedules are available in the data room.
VATAll prices are quoted exclusive of VAT.
COSTSEach party will bear their own costs in respect of the transaction.
South Leeds Golf Club
M62
M62
M62
M621
M621
A6110
A654
A650
A62
J27
J28
GILDERSOME CHURWELL
MIDDLETON
TINGLEY
Morley
07lsh.co.uk Morley Indoor Market Queen Street Morley Leeds West Yorkshire LS27 6D
MORLEY LOCATIONThe market is located in the centre of
Morley approximately 6 miles south west
of Leeds City Centre.
The market is surrounded by Commercial
Street to the east, Hope Street to the
south and Queen Street to the west.
The market is situated within an
established retail area which forms part of
the pedestrianised area of the town.
Morley is positioned approximately
2 miles east of the M621 and M62
intersection (Junction 27).
Red line – Freehold site SITE
08lsh.co.uk Morley Indoor Market Queen Street Morley Leeds West Yorkshire LS27 6D
DESCRIPTIONThe market comprises a traditional indoor
market situated behind a three storey
retail parade fronting Queen Street.
Internally, the property comprises
approximately 66 individual retail
pitches / units. In addition there is office
accommodation for the market manager
and separate customer and traders
WC facilities.
There is a small car park / yard which is
accessed from Commercial Street.
09lsh.co.uk Morley Indoor Market Queen Street Morley Leeds West Yorkshire LS27 6D
Current gross rental income of £403,623 per annum.
Potential approximate gross rental income when fully let - £450,000 per annum.
TENANCY INCOME SUMMARY
EPC
PLANNING
TENURE
Copies of the EPCs are available in the data room.
We understand that the property has planning consent for its existing use. Interested parties are to rely upon their own enquiries with Leeds City Council.
Freehold.
SERVICESWe understand that the 66 individual retail pitches / units have independent utilities supplies and meters. Tenants are responsible for their own utilities costs.
We understand all mains services are available. These services have not been tested. Interested parties should rely upon their own enquiries.
VATAll prices are quoted exclusive of VAT.
COSTSEach party will bear their own costs in respect of the transaction.
Copies of the tenancy schedules are available in the data room.
University of Bedford
A505A505
A505
A6
A6
A6
NEW TOWN
THE MALL
HIGH TOWN
ST ANNS HILL
Luton
The Mall
10lsh.co.uk Luton Indoor Market The Mall Shopping Centre Luton Bedfordshire LU1 2TA
LUTON LOCATIONThe market is located within The Mall
Shopping Centre, Luton. The shopping
centre forms part of the principal retail
area in Luton, comprising approximately
900,000 sq. ft. of retail and leisure
accommodation.
The market trading floor is situated at
lower level and located towards the
eastern end of The Mall. There are storage
units with loading access located at
mezzanine level and basement level.
The Mall Shopping Centre is located to
the east of Gordon Street and to the north
of George Street which forms the prime
retailing area of Luton.
Luton town is positioned approximately
35 miles north of central London and
approximately 22 miles south of Milton
Keynes.
Junction 11 of the M1 Motorway is
approximately 3 miles west of Luton.
Red line – Leasehold site SITE
11lsh.co.uk Luton Indoor Market The Mall Shopping Centre Luton Bedfordshire LU1 2TA
DESCRIPTIONLuton indoor market comprises approximately 40,000 sq. ft. arranged over a single floor. The indoor market comprises 126 individual units & trading pitches which are occupied by way of predominantly short term Licence Agreements to traders on flexible terms.
The market forms one of the main pedestrian access routes into The Mall from the adjoining multi-storey car park. The indoor market has two access points which lead into The Mall opposite New Look.
Situated to the outside of the market are permanent retail pitches occupied by a variety of butchers and café operators. There is a market manager’s office situated at first floor level and three goods lifts which service all floors.
To the lower mezzanine level and basement level there are a further 135 storage units which are accessed by way of a service concourse and loading area. The storage units are of brick and steel construction arranged in a row formation to allow for a degree of flexibility.
12lsh.co.uk Luton Indoor Market The Mall Shopping Centre Luton Bedfordshire LU1 2TA
The market produces a gross rent of £406,777 per annum.
The storage units produce a gross rent of £21,803 per annum.
Potential approximate gross rental income when fully let (storage and market) - £500,000 per annum.
TENANCY INCOME SUMMARY
EPC
PLANNING
TENURE Copies of the EPCs are available in the data room.
We understand that the property has planning consent for its existing use. Interested parties are to rely upon their own enquiries with Luton Borough Council.
Leasehold.
The property is held leasehold for a term
of 66 years and 300 days from
28 November 2003.
SERVICESWe understand all mains services are available. These services have not been tested. Interested parties should rely upon their own enquiries.
VATAll prices are quoted exclusive of VAT.
COSTSEach party will bear their own costs in respect of the transaction.
Copies of the tenancy schedules are available in the data room.
lsh.co.uk
CONTACTS
© Lambert Smith Hampton March 2019. Details of Lambert Smith Hampton can be viewed on our website www.lsh.co.ukThis document is for general informative purposes only. The information in it is believed to be correct, but no express or implied representation or warranty is made by Lambert Smith Hampton as to its accuracy or completeness, and the opinions in it constitute our judgement as of this date but are subject to change. Reliance should not be placed upon the information, forecasts and opinions set out herein for the purpose of any particular transaction, and no responsibility or liability, whether in negligence or otherwise, is accepted by Lambert Smith Hampton or by any of its directors, officers, employees, agents or representatives for any direct, indirect or consequential loss or damage which may result from any such reliance or other use thereof. All rights reserved. No part of this publication may be transmitted or reproduced in any material form by any means, electronic, recording, mechanical, photocopying or otherwise, or stored in any information storage or retrieval system of any nature, without the prior written permission of the copyright holder, except in accordance with the provisions of the Copyright Designs and Patents Act 1988. Warning: the doing of an unauthorised act in relation to a copyright work may result in both a civil claim for damages and criminal prosecution.
Further information is available by contacting the sole agents:
Richard LingenLambert Smith Hampton 0121 237 2322 07701 314054 rlingen@lsh.co.uk
Nick BlackwellLambert Smith Hampton 0113 245 9393 07979 541236 nblackwell@lsh.co.uk
Tim SimmonsLambert Smith Hampton 0121 237 2346 07918 196462 tsimmons@lsh.co.uk
Richard DurkinLambert Smith Hampton 0121 237 2330 07918 738541 rdurkin@lsh.co.uk
Lambert Smith Hampton Interchange Place Edmund Street Birmingham B3 2TA
PROPOSALWe are instructed to seek expressions of interest on either of the
following two bases;
1) A sale of the business of the following Companies.
The businesses are offered for sale on a going concern basis
which will include the freehold and leasehold properties detailed
within these sales particulars;
WMC Retail Partners Plc
Town & Country Markets Limited
Town & Country Markets (Luton) Limited
2) A sale of part or the whole property portfolio which
comprises of; 2 Freehold interests (Wellington & Morley) plus the
assignment of the long leasehold interest of Luton Indoor Market.
The property portfolio comprises predominantly indoor markets
with a gross annual rental income in the order of £1,300,000.
There are over 150 individual market trader businesses operating
from the three market sites. Management of the property portfolio
is handled ‘in house’ by Town and Country Markets Limited.
Wellington Market Shropshire • Morley Leeds Market West Yorkshire • Luton Bedfordshire
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