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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


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.


Current gross rental income of £403,623 per annum.

Potential approximate gross rental income when fully let - £450,000 per annum.


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.




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


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.


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.


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.




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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 [email protected]

Nick BlackwellLambert Smith Hampton 0113 245 9393 07979 541236 [email protected]

Tim SimmonsLambert Smith Hampton 0121 237 2346 07918 196462 [email protected]

Richard DurkinLambert Smith Hampton 0121 237 2330 07918 738541 [email protected]

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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