prime retail investment - emanuel oliveremanueloliver.com/wp-content/uploads/2015/08/v3864-15...a644...
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PRIME RETAIL INVESTMENT Let to Caffé Nero
ENTER
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
Summary
• LettothestrongcovenantofNeroHoldingsLimited• AttractiveGradeIIListedBuilding• PrimeProminentCornerintheCentreofHuddersfield• CurrentRentalIncome£65,000perannum• Seeking offers in excess of £820,000,anattractivenetinitialyield
of7.5%,assumingpurchaserscostsof5.8%.NoVATpayable.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
LocationHuddersfieldisamajorretailcentreinWestYorkshirelocatedapproximately34km(20miles)southwestofLeeds,26km(16miles)southwestofBradfordand47km(29miles)eastofManchester.Huddersfieldtowncentreislocated3km(2miles)southofjunction24oftheM62motorway,linkingtojunction39oftheM1some13.5km(8miles)totheeast.Huddersfieldisthe11thlargesttownintheUnitedKingdomwithapopulationof162,949(2011census)aboroughpopulationof425,500andaprimarycatchmentpopulationof309,000persons.The town benefits from direct rail links to Leeds, Sheffield, Manchester andLiverpool.ServicestoLondonKingsCross,haveajourneytimeofapproximately2hoursand50minutes.
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Warrington
Wigan
Chorley
LeylandDARWEN
Accrington
RAWTENSTALL
Burnley
BoltonRochdale
Middleton
HALIFAX
BlackburnPrestonLytham-st-ann's
Southport
Ormskirk
Skelmersdale
Blackpool
Manchester
Liverpool
Stoke on Trent
Ellesmere Port
Stockport
Oldham
Salford
Altrincham
Maccles�eldBuxton
BUXTON
HUDDERSFIELD
WAKEFIELDDEWSBURY
Leeds
BARNSLEY
Chester�eld
Shef�eld
Peak District
Congleton
Nantwich
Tiverton
Middlewich
Widnes
NorthwichNorthwich
KnutsfordKnutsford
Hollywell
Prestatyn
Rhyl
Rhuddlan
Denbigh
St. Asaph
Colwyn bay
Llandudno
RIVER MERSEY
LIVERPOOLJOHN LENNON
AIRPORT
MANCHESTERAIRPORT
Chester
St Helens
A55
A55
A6
A623
A617
A59
A59A6
A583
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A5103
A6010A5036
A5209
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A5300
A579
A56
A56
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A34
A57A560
A628A6018
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A56
A54
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A49
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A556
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A495A525
A548
A549
A548
A5026
A5151
A541
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
SituationThe property is situated in a prime and extremely prominent position on thecornerofthepedestrianisedKingStreetandNewStreet,directlyoppositeHSBC,VisionExpressandMarks&Spencer.OthernearbyoccupiersincludeYorkshireBuildingSociety,BootstheChemistandCostaCoffee.Theprimeretailing inHuddersfield is focusedaroundtheKingsgateShoppingCentreandthepedestrianisedKingStreet.TheKingsgateCentrewhichprovidessome263,000sqftofretailspaceisanchoredbyHouseofFraser,TopShop,Next,H&M,NewLookandTKMaxx.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
DescriptionThe attractive four storey former bank is Grade II Listed and lies within aconservationarea.Thegroundfloorprovidesaregularshapedretailareawithastaircaseattherearleadingtoanadditionalsalesareaonfirstfloorwhichalsoincludescustomerwcfacilities.Thesecondfloorandbasementprovidestorage/staffareas.
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
AccommodationThe property is arranged over basement, ground, first andsecondfloorshavingthefollowingapproximatefloorareas:-
Sq Ft Sq M
GroundFloorSales 805 74.79
Basement* 334 31.03
FirstFloor 857 79.62
SecondFloor** 885 82.22
Total 2,881 267.66
*Plusfurtherun-usedspace**Notinspected
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
TenancyThepropertyislettoNeroHoldingsLimitedforatermof15yearsfrom28thJanuary2005onfullrepairingandinsuringtermsatarentof£65,000perannum.
TenureWeunderstandthepropertyisheldbywayofaleasefromKirkleesCouncilfor999yearsfrom25March1911atanannualfixedrentof£13.43perannum.
CovenantCaffè Nero is a family owned business that has grown, since launch in 1997, to be Europe’s largestindependentcoffeehousegroup.NeroHoldingsLtdt/aCaffeNeronowhasover600storesworldwide.NeroHoldingsLtdhasanimpressiveDunandBradstreetratingof5A1withaminimumriskofbusinessfailure.Fortheyearending31May2014NeroHoldingsLtdreportedturnoverof£215.496M(2013-£197.539M),pre-taxprofitof£22.538M(2013-£20.011M),withnetassetsof£145.467M(2013-£122.929M).
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SUMMARY LOCATION SITUATION DESCRIPTION TENANCYACCOMMODATION FURTHER INFORMATION
VATNovatispayableonthepurchaseprice.
Rateable ValueThePropertyhasaRateableValueof£71,000.
EPCAnEPCreportisavailableonrequest.
ContactIf you require any further information or wish to arrange a viewing of the property,pleasecontact:
Llyr [email protected]
ProposalWeareinstructedtoseekoffersinexcessof£820,000(EightHundredandTwentyThousandPounds)subjecttocontractandexclusiveofVAT.ApurchaseatthislevelwillshowanattractiveNetInitialYieldof7.5%afterallowingforpurchaserscostsof5.8%.
MISREPRESENTATIONACT1967(Conditionsunderwhichparticularsareissued.)EmanuelOliverforthemselvesandthevendors/lessorsofthispropertywhoseAgentstheyaregivennotice that these particulars do not constitute any part of an offer or contract, that allstatementscontainedintheseparticularsastothispropertyaremadewithoutresponsibilityandarenottobereliedonasstatementsorrepresentativesoffactandthattheydonotmakeorgiveanyrepresentationorwarrantywhatsoeverinrelationtothisproperty.Anyintendingpurchaser/lesseesmustsatisfythemselvesbyinspectionorotherwiseastocorrectnessofeachofthestatementscontainedintheseparticulars.August2015.
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