OMAHAPORTFOLIO
THE
A WELL LET, H IGH YIELDING R ETAIL WAR EHOUSE PORTFOLIO
EXECUTIVE SUMMARY• The Omaha Portfolio comprises 9 well located, high yielding retail
warehouse assets totalling 473,303 sq ft, with 8 in England and 1 in Scotland.
• All assets are dominant within their respective retail shopping catchments.
• The portfolio is 97% occupied by tenants including Matalan, B&M, TK Maxx, Wickes, B&Q, Hobbycraft, The Range, Dunelm, Currys PC World, Pets at Home, Halfords and Pure Gym.
• The portfolio’s net rental income is currently £5,449,676 per annum, equating to an average low base rent of £11.51 per sq ft.
• 84% of the portfolio’s income is attributed to retailers with ‘Minimum’ or ‘Lower than Average’ risk of business failure.
• Weighted average unexpired lease term (WAULT) to expiry of 6.7 years and to earliest terminations of 5.9 years, providing an attractive income profile (assuming the B&M lease is re-geared at Boston).
• All assets are owned freehold / heritable title.
• There are a number of active asset management initiatives.
LONDON
1 Grantham2 Northampton3 Boston 4 Chesterfield5 Skegness 6 Ashton-under-Lyne 7 Blyth8 Dumfries 9 Dewsbury
2
53
78
41
96
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PORTFOLIO ANALYSIS
Portfolio occupancy by floor area
97%
3%
LETVACANT
15.7%
11.3%9.6%
7.5%6.1% 5.9%
4.2% 3.9% 3.6%
Top 9 tenants
21% 17%
42%
20%
WAULT to lease expiry
0-3 years 3-6 years 6-9 years 9+ years
27% 26%30%
17%
WAULT to earliest termination
0-3 years 3-6 years 6-9 years 9+ years
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PROPOSALWe are instructed to seek offers in excess of £57,000,000 (Fifty Seven Million Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 8.95%, assuming full purchaser’s costs.
The quoting price reflects a low capital value of £120 per sq ft.
SPVThe properties are held within two Special Purpose Vehicles, domiciled in Jersey, established by the vendor and a sale of these companies is available.
PORTFOLIO ASSETS
TOWN SCHEMEAREA
(SQ FT)CURRENT RENT PA
WAULT TO LEASE EXPIRY(PER ANNUM) (PER SQ FT)
GRANTHAM Grantham Retail Park 66,974 £542,672 £8.10 10.0 years
NORTHAMPTON Hobbycraft and Matalan 42,093 £673,964 £16.01 6.7 years
BOSTON Alban Retail Park 54,944 £592,984* £10.79 10.7 years**
CHESTERFIELD TK Maxx and Home Bargains 38,964 £446,250 £11.45 8.0 years
SKEGNESS Skegness Retail Park 57,579 £682,625 £11.86 6.6 years
MANCHESTER Ashton Retail Park (Ashton-under-Lyne) 33,883 £421,936 £12.45 5.1 years
BLYTH Blyth Valley Retail Park 53,661 £698,111* £13.01 5.2 years
DUMFRIES Peel Retail Park 85,442 £1,064,342* £12.46 4.7 years
DEWSBURY Wickes and B&M 39,763 £326,792 £8.22 3.4 years
TOTALS 473,303 £5,449,676 £11.51 6.7 years
*Vendor to provide a 2 year rent, business rates and service charge guarantee on vacant units.**Assuming the B&M lease is re-geared.
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GRANTHAM RETAIL PARKGRANTHAM NG31 8HX
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INVESTMENT SUMMARY• Grantham is an affluent market town in Lincolnshire, circa 25
miles east of Nottingham, 36 miles north west of Peterborough and 32 miles north east of Leicester.
• Prominently situated fronting North Parade (B1174) half a mile north of the town centre.
• Large catchment population with 83,939 people living within the scheme’s 20 minute drive time catchment.
• A terrace of 3 retail warehouse units totalling 66,974 sq ft.
• Let to Wickes, DFS and The Range.
• The Range benefits from 5 yearly fixed rental uplifts equal to 2.0% pa compounded.
• Passing rent of £542,672 pa, reflecting a low average rent of £8.10 per sq ft.
• WAULT of 10 years.
• Open A1 (Non-Food in respect of part only).
• Freehold.
1
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G R ANTHA M R E TAI L PAR K G R ANTHAM N G31 8 HX
LOCATIONGrantham is an attractive market town in Lincolnshire, approximately 25 miles east of Nottingham, 36 miles north west of Peterborough and 32 miles north east of Leicester. The town occupies a strategic position adjacent to the intersection of the A1 and A52 dual carriageways.
Grantham railway station provides regular services to London King’s Cross with a fastest journey time of approximately 1 hour 10 minutes.
SITUATIONGrantham Retail Park is prominently located on North Parade (B1174) half a mile north of the town centre.
Grantham
A1
A1
A1
A1
A52
A52 BARROWBY ROAD BARROWBY ROAD
A 52
SA
NKT AU
GU
STIN W
AY
A52
LONDO
N RO
AD
A52 BRIDGE END ROAD
A52
B1174
GONERBY ROAD
B1174
B1174
A607 A607
M
AN
THO
RPE
ROAD
A
607
BELTON LANE
BELTO
N LANE
HARROWBY LANE
STONEBRIDGE LANE
N
EW B
EACO
N RO
AD
BARR
OWBY
GAT
E
LOW ROAD DYSART ROAD DYSART ROAD
A607
TRENT RO
AD
TRENT ROAD
SPRINGFI ELD ROAD B1174
G R A N T H A MG R A N T H A M
SUBJECTPROPERTY
DYSART RETAIL PARK
AUGUSTIN RETAIL PARK
LONDON ROAD CLUSTER
ED Bdy
Pond
T rack
SL
Depot
El Sub Sta
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G R ANTHA M R E TAI L PAR K G R ANTHAM N G31 8 HX
RETAIL WAREHOUSING PROVISION IN GRANTHAMIn addition to the subject property, Grantham has the following retail warehouse provision:
DYSART RETAIL PARK – 80,000 SQ FT Situated 1 mile south of the subject property is this open A1 (non-food) consented scheme let to TK Maxx, Currys PC World, Matalan and a vacant 30,000 sq ft unit (previously occupied by Homebase). Rents £11.00 to £14.00 per sq ft. Owned by Colliers Capital.
AUGUSTIN RETAIL PARK – 32,000 SQ FT Situated 1 mile south of the subject property is this open A1 (non-food) consented scheme let to Next, Pets at Home, Sports Direct, Home Bargains and a vacant 5,059 sq ft unit (previously occupied by Poundworld). Owned by South Yorkshire Pension Fund.
London Road Cluster – 24,500 SQ FT Half a mile south of the town centre is the open A1 (non-food) consented Discovery Retail Park (24,500 sq ft) let to Carpetright, Laura Ashley and Poundstretcher. Rents £8.75 to £14.00 per sq ft. Owned by Custodian Capital. There are a number of solus units occupied by B&Q, M&S Foodhall, Halfords, Dunelm and Aldi.
DESCRIPTIONThe property comprises 3 retail warehouse units of steel portal frame construction, arranged in a linear terrace. Both The Range and Wickes have external garden centres located to the side of their units.
There are approximately 252 customer car parking spaces to the front of the units, providing a ratio of 1 : 266 sq ft.
The site extends to approximately 5.5 acres (2.2 hectares).
TENUREFreehold.
ASSET MANAGEMENTOpportunity to develop a new A3 pod unit.
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
A Wickes Building Supplies Ltd 26,674 08/01/2019 07/01/2027 - 08/01/2024 £220,000 £8.25 40% Rent review capped at 2.5% pac (shall not exceed £248,910 pa).
B DFS Trading Ltd 14,800 22/06/2015 21/06/2025 - 22/06/2020 £118,400 £8.00 22%
C CDS (Superstores International) Ltd t/a The Range 25,500 16/11/2015 15/11/2035 - 16/11/2020 £204,272 £8.01 38% 5 yearly fixed rental uplifts equal to 2.0%
pac.
66,974 £542,672 £8.10
INVESTMENT SUMMARY• Northampton is located the East Midlands, 67 miles north west
of London.
• Situated in Northampton’s prime retail warehouse pitch on Weedon Road.
• Large catchment population with 315,016 people living within the scheme’s 20 minute drive time catchment.
• 2 retail warehouse units totalling 42,093 sq ft.
• Let to Matalan and Hobbycraft.
• Opportunity to re-gear the occupational leases past 2026.
• Passing rent of £673,964 per annum, reflecting an average rent of £16.01 per sq ft.
• WAULT of 6.7 years.
• Open A1 (including food).
• Freehold.
HOBBYCRAFT AND MATALANNORTHAMPTON NN5 5AF
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H O BBYCR AF T & MATAL AN N O RTHA M P TO N N N5 5AF
LOCATIONNorthampton is the county town of Northamptonshire. It is regarded as one of the UK’s premier distribution hubs, being strategically located 67 miles north west of London, 45 miles south east of Birmingham and 30 miles north east of Oxford. The town has excellent communication links, located 4 miles east of Junctions 15, 15a and 16 of the M1 motorway. The M6, M45 and M40 are also easily accessible from the town.
Northampton train station provides direct rail services to both London and Birmingham, with fastest journey times of 58 minutes and 60 minutes, respectively.
SITUATIONThe property is located in the town’s main retail warehouse pitch on the A4055 Weedon Road, 2 miles east of the town centre.
A4500A4500
WEEDON RD
A4500
WEEDON ROAD A4500
ST JAMES’ ROAD
A4500
A4500
A5076 RIN
G RO
ADA5076
A428
SPENCER BRIDGE ROAD
A50
95
ST
AN
DRE
W’S
RO
AD
A509
5
DUSTON ROAD
TOLL
GAT
E W
AY
BANTS LANE
MAIN ROAD
MILLW
AY
A428 HARLESTONE ROAD
Northampton
A507
6
A512
3TO
WC
ESTE
R RO
AD
A512
3
A5123
BRIDG
E STREET
A508
A508
WILMINGTON TERR CAMPBELL SQ
A5123
N O R T H A M P T O NN O R T H A M P T O N
SUBJECTPROPERTY
SIXFIELDS RETAIL PARK
ST JAMES’ RETAIL PARK
NENE VALLEY RETAIL PARK
ST PETER’S WAYRETAIL PARK
A508
HO
RSE
MAR
KET
BR
OAD
STRE
ET
BARR
ACK
ROA
D
RIVERSIDE RETAIL PARK
E D
76.8m
TCB
WE E DON R OAD
TYNE R OAD
R OS S R OAD
TYNE R OAD
TWE E D R O
AD
S M
EstateIndustrial
E l Sub S ta
Shelte
r
ShelterGas Gov
1 7
11
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H O BBYCR AF T & MATAL AN N O RTHA M P TO N N N5 5AF
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
A Matalan Retail Ltd 28,644 16/07/2012 28/09/2026 - 24/06/2021 £453,964 £15.85 67% Tenant mezzanine: 8,676 sq ft.
B Hobbycraft Trading Ltd 13,449 05/08/1996 29/09/2026 - 01/10/2021 £220,000 £16.36 33%
Tenant Mezzanine: 5,101 sq ft 1,702 sq ft first floor incl in GIA. Reversionary lease granted 26/07/2012 from 30/09/2016 to 29/09/2026.
42,093 £673,964 £16.01
RETAIL WAREHOUSING PROVISION IN NORTHAMPTONThere are 2 main concentrations of retail warehousing in Northampton. Wickes and Halfords have solus units bordering the subject property, whilst Sixfields Retail Park, Sainsbury’s and Lidl are within close proximity.
To the south of the town centre are St James’ Retail Park, Nene Valley Retail Park and St Peters’ Way Retail Park. Riverside Retail Park is located on the eastern side of the town. We summarise these retail parks below:
SIXFIELDS RETAIL PARK - 60,000 SQ FT Open A1 (non-food) consented scheme let to M&S Foodhall, Next, Boots, Poundland and TUI. Rents £18.00 to £25.00 per sq ft. Owned by USS.
ST JAMES’ RETAIL PARK - 170,000 SQ FT Open A1 (non-food) consented scheme, a quarter of a mile south of the town centre, let to DFS, DW Sports, The Range, Mothercare, AHF, Laura Ashley, HomeSense and a vacant former Toys ‘R’ Us unit. Rents £20.00 to £25.00 per sq ft. Owned by DTZ Investors.
NENE VALLEY RETAIL PARK - 147,000 SQ FT Adjacent to St James’ Retail Park. Open A1 (including food) consented scheme let to Dunelm, Pets at Home, Currys PC World, ScS, Dreams, B&M, Carpetright, Tapi and Smyths Toys. Rent £8.00 to £25.00 per sq ft. Owned by Landsec.
ST PETER’S WAY RETAIL PARK - 96,141 SQ FT Hybrid town centre/retail warehouse scheme situated on the south western edge of the town centre. Open A1 (non-food) consented scheme let to Argos, Home Bargains, Iceland, Pure Gym One Below and Card Factory with an Open A1 (non-food) planning consent. Rents circa £10.00 per sq ft. Owned by DTZ Investors.
RIVERSIDE RETAIL PARK - 180,000 SQ FT Situated 2 miles east of Northampton town centre, this restricted A1 non-food consented scheme is let to Homebase, Next, Boots, Sports Direct, Pets at Home, Currys PC World, Halfords and others. Rents £18.50 to £35.00 per sq ft. Owned by M&G.
DESCRIPTIONThe property comprises 2 adjoining retail warehouse units of steel portal frame construction.
Customer access and egress is from Weedon Road and there are approximately 145 spaces car parking spaces, providing a ratio of 1 : 239 sq ft.
The site extends to approximately 2.3 acres (0.9 hectares).
TENUREFreehold.
ASSET MANAGEMENTOpportunity to re-gear the existing occupational leases.
ALBAN RETAIL PARKBOSTON PE21 7NN
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3
INVESTMENT SUMMARY• Boston is an established commercial centre in Lincolnshire, 35 miles
south east of Lincoln.
• Prominently located on the A52, 2 miles south west of the town centre, adjacent to a Tesco supermarket.
• Large catchment population with 84,087 people living within the scheme’s 20 minute drive time catchment.
• 3 retail warehouse units totalling 54,944 sq ft.
• Let to Dunelm and B&M with 1 available unit.
• B&M are in discussions for a 15 year reversionary lease.
• Negotiations ongoing regarding the available unit.
• Passing rent of £592,984 per annum, reflecting an average rent of £10.79 per sq ft. Includes a rental top up on the available unit of £10.00 per sq ft.
• Open A1 (non-food in respect of part).
• Freehold.
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ALBAN R E TAI L PAR K BOSTO N PE 21 7N N
LOCATIONBoston is an established commercial centre within Lincolnshire, East Midlands. The town is approximately 35 miles south east of Lincoln and 32 miles north of Peterborough. The town is prominently located on the A52 and A16 trunk roads. The A16 is the main arterial route through the town and provides access to the East Midlands and south onto the A1.
Boston railway station provides direct access to Grantham and Nottingham in 51 minutes and 1 hour 17 minutes respectively. Rail links to London Euston (via Grantham) are at a journey time of approximately 2 hours 22 minutes.
SITUATIONAlban Retail Park is prominently located on the A52, 2 miles south west of the town centre. The scheme is adjacent to a Tesco supermarket and within close proximity to a 40,000 sq ft B&Q.
Boston
A1121 BOARDSIDES SLEAFORD ROAD
A52
SLEAFORD ROAD
A52
JOHN ADAMS WAY
A16
SPILSBY ROAD
A16
A52 SWINEHEAD ROAD
A16
A16
SPALD
ING
ROAD
A1138
SKIRBECK ROAD
LONDON ROAD
B1397
A1137
ARGYLE ST FYDELL STREET TAW
NEY ST
TATTERSHALL ROAD
B O S T O NB O S T O N
SUBJECTPROPERTY
BOSTON SHOPPING PARK
QUEEN STREET RETAIL PARK
Def
Ward B
dy
Dra in
Dra in
3.4m
A 52
Alban Retail Park
ESS
CD
New Hammond B eck
2.7m
Pipeline
VACANT
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ALBAN R E TAI L PAR K BOSTO N PE 21 7N N
RETAIL WAREHOUSING PROVISION IN BOSTONIn additional to the subject property and the B&Q, there is a cluster of retail warehousing to the north of the town centre, which includes solus units let to Wickes, Matalan, Currys PC World and 2 parks that are summarised below:
BOSTON SHOPPING PARK – 110,000 SQ FT Situated 2.5 miles north east of the subject property is this open A1 (including food) consented scheme let to TK Maxx, Iceland’s new concept Food Warehouse, Home Bargains, Sports Direct, Card Factory, Buzz Bingo and vacant units. Rents £6.50 to £15.00 per sq ft. Owned by Hawkstone Developments.
QUEEN STREET RETAIL PARK – 25,000 SQ FT Situated 1.5 miles north east of the subject property is this bulky goods consented scheme let to Halfords, Pets at Home, Bensons for Beds and McDonald’s. Rents £11.00 to £13.50 per sq ft. Owned by Belgravia Investment.
DESCRIPTIONThe property comprises an ‘L’ shaped terrace of 3 retail warehouse units of steel portal frame construction.
There are approximately 218 customer car parking spaces to the front of the units, providing a ratio of 1 : 252 sq ft.
The site extends to approximately 4.8 acres (1.9 hectares).
TENUREFreehold.
ASSET MANAGEMENTComplete 15 year reversionary lease to B&M.
Negotiations ongoing with a number of potential operators to take the 5,557 sq ft former Maplin unit.
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
1 Dunelm (Soft Furnishings) Ltd 17,650 10/06/2019 09/06/2034 - 10/06/2024 £192,914 £10.93 33%Rent review to lower of OMV or 2.0% pac.
2 Vacant 5,557 £55,570* £10.00 9%Live interest from national occupiers.
3 B&M Retail Ltd 31,737 16/04/1991 23/06/2015 - - £344,500 £10.85 58%In negotiations to re-gear a 15 year lease.
54,944 £592,984 £10.79
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
INVESTMENT SUMMARY• Chesterfield is located in the East Midlands, circa 12 miles south
of Sheffield and 24 miles north of Derby.
• Adjacent to The Range, Ravenside and Spires Retail Parks are both within close proximity.
• Large catchment population with 387,381 people living within the scheme’s 20 minute drive time catchment.
• A circa 38,964 sq ft retail warehouse unit that has been subdivided into 2 units.
• Let to TK Maxx and Home Bargains.
• Passing rent of £446,250 per annum, reflecting an average rent of £11.45 per sq ft.
• WAULT of 8.0 years (4.6 years including break option).
• Open A1 (non-food).
• Freehold.
TK MAXX AND HOME BARGAINSCHESTERFIELD S41 7RW
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THE OMAHA PORTFOLIO 15THE OMAHA PORTFOLIO 15
TK MA XX & H OM E BARGAI NS CH E STER F I ELD S 41 7RW
LOCATIONChesterfield is located in the East Midlands approximately 12 miles south of Sheffield and 24 miles north of Derby. The town is strategically located 5 miles from Junction 29 of the M1 motorway, which links north to Yorkshire and south towards Nottingham. The A619 provides access west toward the Peak District.
Chesterfield railway station provides direct services to London St Pancras with a journey time of 1 hour 50 minutes.
SITUATIONThe subject property is located just south of the town centre and is prominently located in the heart of Chesterfield’s main retail warehouse pitch.
BOYTH
ORPE RO
AD
A619 C
HATSWORTH ROAD A619
A619 MARKHAM ROADA
617
A61
D
ERBY
RO
AD
A61
DER
BY R
OAD
A617
A617
A617
A617
ASHGATE ROAD ASHGATE ROAD
SALTERGATE
ST M
ARY’
S G
ATE
OLD RD
B654
3
HAW
KSLEY AVENUE
WEST ST
B6051
NEWBOLD ROAD
B6051
B605
7
SH
EFFI
ELD
RO
AD
BRIM
ING
TON
RO
AD
BOYTH
ORPE RO
AD
WALTON ROAD
WAL
TON
RO
AD
WHITECOTES LANE
WHITECOTES LANE ST AUGUSTINE’S ROAD
A61
RO
THER
WAY
A61
ROTH
ER W
AY
A632 HADY HILL A632
HADY HILL A632 HADY HILL
SPITAL LANE
HASLAND ROAD
HASLAND ROAD
C H E S T E R F I E L DC H E S T E R F I E L D
SUBJECTPROPERTY
THE SPIRES RETAIL PARK
RAVENSIDE RETAIL PARK
Spire Walk Business Park
1 5
R iver Hipper
79.2m
FB
Tower
FB
Observation
HIP
PE
R S
T RE
ET
SO
UT
H
SM
SM
SM
S M
Chesterfield Skatepark
1
Markham
Chesterfield
Community
Fire Station
23
42
1 51
ESS
F B
FBs
LO
53
Retail
Park
2a
2b
El Sub Sta
Hotel
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TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
A TJX UK t/a TK Maxx 25,587 19/11/2012 18/11/2027 19/11/2022 19/11/2022 £306,250 £11.97 69%
B TJ Morris Ltd t/a Home Bargains 13,377 30/04/2013 30/04/2028 - 30/04/2018 £140,000 £10.47 31%
38,964 £446,250 £11.45
RETAIL WAREHOUSING PROVISION IN CHESTERFIELDAdjacent to the subject property, there is a circa 34,963 sq ft unit let to The Range. All the retail warehouse provision in Chesterfield is within a close cluster. The 3 schemes are:
RAVENSIDE RETAIL PARK - 127,919 SQ FT To the north of the subject property is a circa 128,000 sq ft open A1 (non-food) retail park let to Next, Currys PC World, Debenhams, Pets at Home, B&M, Hobbycraft, Poundland, ScS, Bensons for Beds and Asda Living. Rents £17.00 to £27.50 per sq ft. Owned by Landsec.
MARKHAM RETAIL PARK - 20,082 SQ FT To the north of the subject property, this bulky goods consented scheme let to ScS, Bensons for Beds and Jysk. Rents £15.00 to £16.50 per sq ft. Owned by CBREGI.
THE SPIRES RETAIL PARK - 173,276 SQ FT To the rear of the subject property is a circa 104,000 sq ft B&Q and smaller units. Go Outdoors and Xercise4Less. Owned by Paloma Capital.
DESCRIPTIONThe property comprises a retail warehouse unit of steel portal frame construction that has been subdivided into 2 units.
There are approximately 162 customer car parking spaces to the front of the units, providing a ratio of 1 : 241 sq ft.
The site extends to approximately 3.1 acres (1.3 hectares).
TENUREFreehold.
ASSET MANAGEMENTOpportunity to remove the TK Maxx tenant break option.
TK MA XX & H OM E BARGAI NS CH E STER F I ELD S 41 7RW
SKEGNESS RETAIL PARKSKEGNESS PE25 5EP
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INVESTMENT SUMMARY• Skegness is a popular seaside town in Lincolnshire, 42 miles east of
Lincoln.
• Prominently situated just off the A52, half a mile west of the town centre.
• Large catchment population with 37,739 people living within the scheme’s 20 minute drive time catchment.
• 4 retail warehouse units and 1 restaurant totalling 57,579 sq ft.
• Let to B&Q, Currys PC World, Halfords, Poundstretcher and Pizza Hut.
• Passing rent of £682,625 per annum, reflecting a low average rent of £11.86 per sq ft.
• WAULT of 6.6 years (5.3 years including break options).
• Open A1 (Non-Food part only).
• Freehold.
THE OMAHA PORTFOLIO 18THE OMAHA PORTFOLIO 18
SKEG N E SS R E TAI L PAR K SKEG N E SS PE 25 5EP
LOCATIONSkegness is a popular seaside town in Lincolnshire, East Midlands. It is located approximately 39 miles south of Grimsby and 42 miles east and of Lincoln. The A52 runs through the town centre, connecting Skegness to Boston to the south and the A158 is accessed to the west of the town centre and provides direct access to Lincoln and Grimsby.
SITUATIONSkegness Retail Park occupies 2 sites either side of Heath Road, just off Wainfleet Road (A52) and is half a mile west of the town centre.
WAINFLEET ROAD
A52
WAINFLEET ROAD A52
ROM
AN B
ANK
A158 BURGH ROAD
A158
BURGH ROAD
A158
LINC
OLN
ROA
D
LINCOLN ROAD LINCO
LN ROAD
A52
ROM
AN B
ANK
A52
LUMLEY ROAD
GRA
ND
PAR
ADE
CASTLETON BLVDS K E G N E S SS K E G N E S S
SUBJECTPROPERTY
QUORA RETAIL PARK
Dra in
Dra in
Drain
3.7m
Ligh ting Tow
ers
WAINF LE E T R OAD
THE OMAHA PORTFOLIO 19THE OMAHA PORTFOLIO 19
SKEG N E SS R E TAI L PAR K SKEG N E SS PE 25 5EP
RETAIL WAREHOUSING PROVISION IN SKEGNESSSkegness Retail Park is one of 2 schemes in the town, with the other park being located 1 mile to the north and is summarised below:
QUORA RETAIL PARK – 63,500 SQ FT Open A1 (including food) consented scheme let to Aldi, M&S Foodhall, B&M and Jollyes. Rents £10.00 to £14.00 per sq ft. Developed in 2017 and owned by the London Borough of Newham.
DESCRIPTIONThe property comprises 5 modern retail warehouse units of steel portal frame construction. The scheme is separated by Heath Road, which runs through the centre, with Halfords, B&Q and Currys PC World on the west side and Pizza Hut and Carpetright on the east side.
There are approximately 228 car parking spaces providing a ratio of 1 : 255 sq ft.
The site extends to approximately 7.1 acres (2.9 hectares).
TENUREFreehold.
ASSET MANAGEMENTOpportunities to re-gear the Halfords lease and to remove the Currys PC World and Pizza Hut tenant break options.
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
A B&Q plc 28,054 24/06/2000 23/06/2025 - 24/06/2020 £310,000 £11.05 46%
B Halfords Ltd 6,713 29/09/2001 28/09/2021 - - £86,125 £12.83 13% Tenant mezzanine 947 sq ft.
CDSG Retail Ltd t/a Currys PC World
10,383 28/03/2018 27/03/2028 28/03/2023 28/03/2023 £132,000 £12.71 19%TBO 28/03/2023. 6 months notice required. Tenant mezzanine 1,476 sq ft.
D Poundstretcher Ltd 8,199 12/09/2005 11/09/2030 - 12/09/2020 £105,000 £12.81 15% Tenant mezzanine 163 sq ft.
E Pizza Hut (UK) Ltd 4,230 25/03/2005 24/03/2030 25/03/2025 25/03/2020 £49,500 £11.70 7%
TBO 25/03/2025. 6 months notice required. Recently removed TBO 25/03/2020 for 9 months’ rent free from 29/09/2019.
57,579 £682,625 £11.86
ASHTON RETAIL PARKASHTON-UNDER-LYNE OL6 6DJ
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INVESTMENT SUMMARY• Ashton-under-Lyne is an attractive market town located
approximately 5 miles east of Manchester city centre.
• Ashton Retail Park is situated adjacent to the IKEA superstore and opposite the Ashton-under-Lyne Tram stop.
• Large catchment population with 392,731 people living within the scheme’s 20 minute drive time catchment.
• 7 retail warehouse units totalling 33,883 sq ft.
• Fully let to Pure Gym, Barnardo’s, Jollyes, Poundstretcher, Subway, Quality Pet Care and National Tyre Service.
• Adjacent to a Buzz Bingo, a large IKEA and an Aldi.
• Passing rent of £421,936 per annum, reflecting an average rent of £12.45 per sq ft.
• WAULT of 5.1 years (2.9 years including tenant break options).
• Predominantly Open A1 (Food and Non-Food) and D2 (Leisure) in respect of part.
• Freehold.
THE OMAHA PORTFOLIO 21THE OMAHA PORTFOLIO 21
ASHTO N R E TAI L PAR K ASHTO N - U N D ER- LYN E O L6 6DJ
M60
M60
J23
A6140
A614
0
LORD SHELDON WAY A6140
A6140 A6043 WELLINGTON ROAD
A670
PARK PARADE STAMFORD ST EAST
A627 CAVENDISH STREET
A635
MANCHESTER ROAD
A635 PARK PARADE A635
PARK PARADE
A601
7 ST
OCK
PORT
ROAD
A627
OLD
HAM
ROAD
A627
OLD
HA
M RO
AD A627
CAVENDISH STREET
KING
STREET
NEWMARKET RD
RIVERSID
E
PARK ROAD B6445CRES
CEN
T RO
AD
B6
170
B6194 MOSS
LEY R
OADA670
MOSSLEY ROAD
A670
TURN
ER RD
LEES STREET
HEN
RIETTA STREET
A S H T O NU N D E R L Y N E
A S H T O NU N D E R L Y N E
Ashton-under-Lyne Station
Ashton-under-LyneMetrolink Tram Stop
SUBJECTPROPERTY
SNIPE RETAIL PARK
110.4m
107.4m
Tks
FBs
osts
WE LL INGTON R OAD
LC
Ramp
El Sub Sta
ESS
1 1 0
Ward
107.3m
107.5m
108.1m
108.0m
Subway
P
YO
RK
SH
IRE
STR
EE
T
WINTON S TR E E T
AS
SHE
TO
CLO
SO
YO
RK
SH
IRE
ST
RE
ET
SP
MP 6.25
LC
Depot
1 08
8
2
50
Ashton Retail Park
Bus Station
1 0 to 99
98
Assheton H
ou
Ashton-under-lyne(Tram)
23
1
1 26
5
LOCATIONAshton-under-Lyne is an attractive market town located approximately 5 miles east of Manchester city centre, 16 miles south west of Huddersfield and 28 miles west of Sheffield. The town is within close proximity to Junction 23 of the M60 motorway.
Ashton-under-Lyne is serviced by the Metrolink Tram service and the station is situated directly opposite Ashton Retail Park and provides a journey time to Manchester Piccadilly of 35 minutes.
SITUATIONAshton Retail Park is situated adjacent to an IKEA and an Aldi and is prominently located on the intersection of the A6140 running east to west, and the A627 running north to south.
THE OMAHA PORTFOLIO 22THE OMAHA PORTFOLIO 22
ASHTO N R E TAI L PAR K ASHTO N - U N D ER- LYN E O L6 6DJ
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
1 Buzz Group Ltd - - - - - £0 - - Outside of ownership.
Buzz Group Ltd - 29/09/2009 28/09/2024 - 28/09/2020 £13,605 - 3%Gala Bingo smoking shelter. Annual RPI linked rent reviews.
2a Leonard F Jollye (Brookmans Park) Ltd t/a Jollyes 6,140 16/12/2010 15/12/2020 - 16/12/2015 £93,078 £15.16 22% In discussions for a 5 year lease extension.
2b Pure Gym Ltd 7,886 20/01/2015 19/01/2030 20/01/2025 20/01/2020 £71,632 £8.26 17%Stepped rent increases 01/2020 = £71,632 and 01/2025 = £78,795.
3a Poundstretcher Ltd 8,051 28/02/1997 27/02/2022 - 28/02/2017 £70,000 £8.69 17%
3b Barnardo’s 1,135 23/10/2014 22/10/2024 - 23/10/2019 £40,000 £35.24 9%
3c Subway Realty Ltd 1,752 25/11/2008 24/11/2023 - 25/11/2018 £34,780 £19.85 8%
4 Quality Pet Care Ltd 4,146 12/12/2017 11/12/2032 11/12/2022 12/12/2022 £59,841 £14.43 14% TBO’s years 5 and 10.
5 National Tyre Service Ltd 4,773 30/10/1996 29/10/2021 - - £39,000 £8.17 9%
33,883 £421,936 £12.45
RETAIL WAREHOUSING PROVISION IN ASHTON-UNDER-LYNEIn addition to Ashton Retail Park and the IKEA superstore, there is the Snipe Retail Park and a standalone B&M store both situated at Junction 23 of the M60 motorway, 2.5 miles to the south west of the subject property:
SNIPE RETAIL PARK – 242,000 SQ FT Open A1 (non-food) consented scheme let to B&Q, Next, Currys PC World, Dunelm, Halfords, Pets at Home, Home Bargains, Carpetright, Wren, Harveys and McDonald’s. Rents £11.50 to £23.50 per sq ft. Owned by Orchard Street Investment Management.
DESCRIPTIONThe property comprises 7 retail warehouse units of steel portal frame construction, arranged in a linear terrace and one standalone unit. There is an additional unit at the end of the terrace that is occupied by Buzz Bingo, but this falls outside of the ownership.
There are approximately 185 customer car parking spaces within the site ownership, with approximately 41 of these spaces to the front of the Buzz Bingo unit. Based on the remaining 144 spaces, it provides a ratio of 1 : 235 sq ft.
TENUREFreehold.
ASSET MANAGEMENTComplete the 5 year reversionary lease to Jollyes.
Opportunity to remove the Quality Pet Care and Pure Gym tenant break options.
INVESTMENT SUMMARY• Blyth is the largest town in Northumberland, circa 14 miles north of
Newcastle.
• Prominently situated fronting Cowpen Road (A189) adjacent to an Aldi foodstore.
• Large catchment population with 354,285 people living within the scheme’s 20 minute drive time catchment.
• 6 retail warehouse units & a drive-thru restaurant totalling 53,661 sq ft.
• Let to Homebase, Jollyes, Bensons for Beds, Carpetright, Storey Carpets and KFC.
• Opportunity to develop an A3 pod unit.
• Passing rent of £698,111 per annum, reflecting an average rent of £13.01 per sq ft.
• WAULT of 5.2 years.
• Predominantly Bulky Goods A1 (Non-Food) and Drive Thru Fast Food in respect of part. A certificate of lawful use was obtained in July 2017 which states that the use of the premises for any retail use within A1 use class is lawful (excluding Homebase).
• Freehold.
BLYTH VALLEY RETAIL PARKBLYTH NE24 5TP
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THE OMAHA PORTFOLIO 24THE OMAHA PORTFOLIO 24
LOCATIONBlyth is the largest town in Northumberland and forms part of Newcastle’s commuter belt, being 14 miles north of the city, 4 miles north east of Cramlington and 10 miles south east of Morpeth. Blyth is located 10 miles from the A1, which links north to Scotland and south towards Newcastle and the national motorway network beyond.
Newcastle train station provides direct rail services to London and Edinburgh with a fastest journey time of 2 hours 52 minutes and 1 hour 28 minutes, respectively.
SITUATIONBlyth Valley Retail Park is located 1.5 miles west of the town centre, prominently positioned on Cowpen Road (A189). There is an Aldi foodstore adjacent to the park.
BLY TH VALLE Y R E TAI L PAR K BLY TH N E 24 5TP
A189
A189
A189
A189
A189
B1331
B1331A
1147
A193 FRONT STREET
A193
A193
COWPEN ROAD
A193 COWPEN ROAD A193
COWPEN
ROAD
A
193
B1329
NEW
SHAM
ROAD
C O W P E N
B E B S I D E
C O W P E N
B E B S I D E
River Blyth
River Blyth
SUBJECTPROPERTY
6.5m
Gas GovBE
EC
HE
R S
TR
EE
T
COWP E N R OAD
1 to 4
9 to
12
57
Court
1 3 to 1 6
25 to
28
5 to 8
Court21 to 24
1 7 to 20
29 to 32
El
Edendale
1 26
Sub Sta
Edendale
204
Blyth Valley
Retail Park
Blyth Valley
Retail Park
The Oa ks
14 to 25
26 to 37
Shelter
Tank
Chy
(Telecommunication)Mast
C ONIS TON R OAD
El Sub Sta
2
1
4
5 a
ESS
1
5
Bentley Court
Factory
4 and 5
THE OMAHA PORTFOLIO 25THE OMAHA PORTFOLIO 25
RETAIL WAREHOUSING PROVISION IN BLYTHThere is 1 other retail park located approximately half a mile to the south east:
ALBION RETAIL PARK - 35,868 SQ FT Open A1 retail park of 4 units occupied by B&M, Frank’s the Flooring Store and 2 vacant units (formerly Lidl and Brantano). B&M pay a rent equating to £6.50 per sq ft on 16,000 sq ft.
DESCRIPTIONThe property comprises 6 retail warehouse units of steel portal frame construction, arranged in 2 perpendicular terraces, together with a drive-thru restaurant.
Customer access and egress is from Cowpen Road and this is shared with the Aldi supermarket. There are approximately 274 car parking spaces providing an excellent ratio of 1 : 196 sq ft.
The site extends to approximately 5.36 acres (2 hectares).
TENURE Freehold.
ASSET MANAGEMENT Carpetright have served notice to activate their tenant break option in April 2020. There is demand from national retailers to take a circa 15,000 sq ft unit combining the existing Carpetright and Storey Carpets units.
Opportunity to develop a new A3 pod unit.
Good levels of interest in the Homebase unit due to its monopoly position in the town.
BLY TH VALLE Y R E TAI L PAR K BLY TH N E 24 5TP
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT )
1Leonard F Jollye (Brookmans Park) Ltd t/a Jollyes
6,023 25/03/2008 24/03/2023 - 25/03/2018 £84,098 £13.96 12%
2Steinhoff UK Group Properties Ltd t/a Bensons For Beds
5,013 25/03/2007 24/03/2022 - - £67,500 £13.46 9%
3 Carpetright plc 5,005 25/09/2007 24/09/2022 26/04/2020 - £50,625* £10.11 7%Carpetright have served notice to action their 04/2020 TBO.
4&5 Storey Carpets Ltd 10,078 25/03/2007 24/03/2022 - - £130,988 £13.00 19%
6 HHGL Ltd t/a Homebase 25,646 16/04/2007 15/04/2027 - 16/04/2022 £325,000 £12.67 47%Category 1 in CVA. Tenant mezzanine 9,713 sq ft.
7Kentucky Fried Chicken (Great Britain) Ltd
1,896 18/05/2007 17/05/2032 - 18/05/2017 £39,900 £21.04 6%Underlet to Alderforce North Ltd on 29/04/2013.
Sub Station Northern Powergrid (Northeast) Ltd - 12/04/2007 11/04/2067 - - £0 - -
53,661 £698,111 £13.01
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
INVESTMENT SUMMARY• Dumfries is located in South West Scotland, 33 miles north west of
Carlisle.
• Prominently situated fronting Lockerbie Road, adjacent to a Tesco supermarket.
• Large catchment population with 57,347 people living within the scheme’s 20 minute drive time catchment.
• The nearest retail centre is Carlisle, which is 33 miles away.
• 6 retail warehouse units totalling 85,442 sq ft.
• Let to Matalan, Pets at Home, Sports Direct, TK Maxx, B&M and one vacant unit.
• Passing rent of £1,064,342 per annum, reflecting an average rent of £12.46 per sq ft. Includes a rental top up on the vacant unit of £11.00 per sq ft.
• WAULT of 4.7 years (4.3 years including break options) excluding available unit.
• Live planning permission for an A3 pod unit and terms agreed with Costa.
• Open Class 1 (Non-Food) Retail Use.
• Heritable title (the Scottish equivalent of English freehold).
PEEL RETAIL PARKDUMFRIES DG1 3PF
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8
THE OMAHA PORTFOLIO 27THE OMAHA PORTFOLIO 27
LOCATIONDumfries is the commercial and administrative centre of the Dumfries & Galloway council area in South West Scotland. The town is located 79 miles south west of Edinburgh, 77 miles south of Glasgow and 33 miles north west of Carlisle.
Dumfries train station provides direct rail services to Carlisle and Glasgow with journey times of 39 minutes and 1 hour 44 minutes, respectively.
SITUATIONPeel Retail Park is prominently located on Lockerbie Road (A709), 1 mile east of the town centre and adjacent to a circa 65,000 sq ft Tesco supermarket.
PEEL R E TAI L PAR K DUM FR I E S DG1 3 PF
A76
DALB
EATT
IE R
OAD
CASSLANDS
A780
A75
A75
A75
A75
A75
A75
A75
A709
A709
A709
LOREBURN ST ENGLISH S
T
LOCKERBIE ROAD
A709
A709
A709
A780 ANNAN ROAD A780 ANNAN ROAD
A780
ANNAN ROAD
PLEASANCE AVE A756
BROOMS ROAD
A756WHITE SANDS
A781
BUCCLEUCH ST
A
701
E
DINBU
RGH
RO
AD
A701
EDINBURGH RD
A701
GLASG
OW
STG
LASGO
W STREET
CAST LE DOUGLAS RD
D U M F R I E SD U M F R I E S
Dumfries SUBJECTPROPERTY
A75
A75
A75
A75
GLASGOW
ROAD
DUMFRIES RETAIL PARK
CUCKOO BRIDGERETAIL PARK
BS
Co Cons t
& Wa rd
Bdy
C o Cons t B
dy
Def
Co Cons t
& Wa rd
Bdy
Ward
Bdy
1 7 . 1 m
20.1m
El Sub Sta
Tra ck
S TOOP L OANING
DR IVE
YLER OAD
CAR LYLE
COU
R T
CAR LYLE P LACE
CAR LYLE
Playground
STOOP
3
7
16
4
Bank
Harma rjoy
4
8
12
1
4
25
3
8
6
9
7
Fountainbleu
10
1
1
3
3
11
15
19
5
1
5
16
1 a
5Yarra
1 b
10
3
Shelter
2
Shelter
156
160
162
164
174
176
166
168
154
158
178
180
98
Drain
16.2m
VACANT
THE OMAHA PORTFOLIO 28THE OMAHA PORTFOLIO 28
PEEL R E TAI L PAR K DUM FR I E S DG1 3 PF
RETAIL WAREHOUSING PROVISION IN DUMFRIESThe subject property is the only open class 1 (non-food) retail park in Dumfries. There are 2 other parks situated opposite each other adjacent to the junction of the A75 and the A76 approximately 1 mile north west of the town centre:
CUCKOO RETAIL PARK – 128,400 SQ FT Bulky goods consented park let to B&M, Homebase, Dunelm, Dreams, Laura Ashley, Poundstretcher and Storey Carpets. Rents £8.90 to £18.50 per sq ft. Owned by NewRiver. Adjacent to a Tesco Extra.
DUMFRIES RETAIL PARK – 85,600 SQ FT Restricted A1 consented park let to Wickes, Currys PC World, Home Bargains, Harveys / Bensons for Beds, Carpetright, Carpet Ways and Greggs. Rents £9.15 to £13.00 per sq ft. Owned by Merseyside Pension Fund.
DESCRIPTIONThe property comprises a single terrace of 7 retail warehouse units that are of steel portal frame construction.
Customer access and egress is from the A709 and this is shared with the Tesco supermarket. There are approximately 391 car parking spaces providing an excellent ratio of 1 : 218 sq ft.
The site extends to approximately 8.63 acres (3.5 hectares).
TENURE Heritable title.
ASSET MANAGEMENTDiscussions ongoing with a number of potential operators to take the 7,492 sq ft, former Poundworld unit.
Opportunity to remove the TK Maxx tenant break option.
There is a potential development site at the entrance to the site that could be sold off. Negotiations ongoing.
Live planning permission for an A3 pod unit and terms agreed with Costa.
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
1 Matalan Retail Ltd 35,158 16/09/2002 15/09/2022 - 16/09/2017 £376,830 £10.72 35% Tenant mezzanine 4,384 sq ft.
2 Vacant 7,492 - - - - £82,412* £11.00 8%
3 Pets at Home Ltd 7,549 31/03/2003 30/03/2028 - 31/03/2023 £117,000 £15.50 11%10% management fee cap on service charge.
4 SportsDirect.com Retail Ltd 10,016 25/02/2013 24/02/2023 - 25/02/2018 £175,000 £17.47 16% Tenant mezzanine 9,225 sq ft.
5&6 TJX UK t/a TK Maxx 17,640 16/09/2002 15/09/2027 15/09/2025 16/09/2022 £200,000 £11.34 19% Tenant mezzanine 6,764 sq ft.
7 Opus Homewares Ltd t/a B&M 7,587 31/03/2003 30/03/2028 - 31/03/2013 £113,100 £14.91 11% Guaranteed by B&M Retail Ltd.
85,442 £1,064,342 £12.46
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
INVESTMENT SUMMARY• Dewsbury is a market town in West Yorkshire, approximately 11
miles south west of Leeds.
• Situated to the south of the town centre, prominently positioned in the town’s retail warehouse pitch.
• Large catchment population with 264,912 people living within the scheme’s 20 minute drive time catchment.
• 2 retail warehouse units totalling 39,763 sq ft.
• Let to Wickes and B&M.
• Opportunity to re-gear the leases.
• Passing rent of £341,792 per annum, reflecting an average rent of £8.60 per sq ft.
• WAULT of 3.4 years.
• Open A1 (Non-Food).
• Freehold.
WICKES AND B&MDEWSBURY WF12 8AB
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THE OMAHA PORTFOLIO 30THE OMAHA PORTFOLIO 30
WICKE S AN D B& M D E WSBU RY WF 12 8AB
LOCATIONDewsbury is an attractive market town in West Yorkshire, approximately 11 miles south west of Leeds, 11 miles south east of Bradford, 9 miles north east of Huddersfield and 6 miles west of Wakefield.
The town occupies a strategic position where the M1 and M62 motorways meet. The closest motorway links are Junction 40 of the M1 and Junction 27 of the M62. The A638 passes through the town centre and links the M1 and the M62.
Dewsbury railway station provides regular services to Leeds with a journey time of 15 minutes and connects with the local rail network.
SITUATIONThe subject property is situated to the south of the town centre, prominently located on the B6409, which is just to the south of the A638, which runs east to west through Dewsbury town centre.
A644
HUDDERSFIE
LD ROAD
A644
HUDDERSFIE
LD RD ALDAMS ROAD
VICARAGE ROAD
A638 WAKEFIELD ROAD
B6117 H
ECKMO
NDWIKE ROAD
B6117
TEMPLE RD
CEMETERY ROAD
A638
DEWSBURY
RING
ROA
D
DEWSBURY RING ROAD
B460
9 SA
VILLE
ROAD
B460
9 SA
VILL
E RO
AD
A653 LEEDS ROAD
A653
LEED
S ROAD
A638 HALIFAX ROAD
A638 HALIFAX ROAD
A652
BR
AD
FORD
RO
AD
D E W S B U R YD E W S B U R Y
Dewsbury
SUBJECTPROPERTY
RISHWORTH CENTRE & RAILWAY STREET RETAIL PARK
S loping mas onry
Warehouse
CR
Ward B dy
37.8m
37.5m
40.8m
39.6m
37.2m
Savile
Bridge
Outfall
Outfall
L INK R OAD
LON
GC
AU
SE
WA
Y
WILT
ON
ST
RE
ET
AV
ILE
RO
AD
Car Park
5448
ESS
THE OMAHA PORTFOLIO 31THE OMAHA PORTFOLIO 31
WICKE S AN D B& M D E WSBU RY WF 12 8AB
TENANCY SCHEDULE
UNIT TENANT GIA (SQ FT)
LEASE START
LEASE EXPIRY
TENANT BREAK
NEXT RENT REVIEW
CURRENT RENT% OF
INCOME COMMENT(PER ANNUM) (PER SQ FT)
A Wickes Building Supplies Ltd 20,800 13/09/2017 12/09/2022 - - £176,792 £8.50 54%
B B&M Retail Ltd 18,963 10/03/2014 09/03/2024 - 09/05/2019 £150,000 £7.91 46%
39,763 £326,792 £8.22
RETAIL WAREHOUSING PROVISION IN DEWSBURYAll of the town’s retail warehousing provision is within close proximity to the subject property and there are no vacancies. There are a number of solus units let to Sports Direct, B&Q, Screwfix, Carpetright and Farmfoods and the following scheme:
RISHWORTH CENTRE AND RAILWAY STREET RETAIL PARK – 92,000 SQ FT This scheme has an open A1 (part-food) consent and is let to Matalan, Halfords, Poundstretcher, Next, Pets at Home, Clarks and Iceland. Rents £11.17 to £15.83. Owned by NewRiver.
DESCRIPTIONThe property comprises 2 retail warehouse units of steel portal frame construction.
There are a total of approximately 101 customer car parking spaces at the property. Approximately 49 are serving B&M and 52 are serving Wickes.
The overall parking ratio is 1 : 394 sq ft.
The site extends to approximately 2.2 acres (0.9 hectares).
TENUREFreehold.
ASSET MANAGEMENTOpportunity to re-gear the existing occupational leases.
MISREPRESENTATION NOTICE. Avison Young give notice to anyone who may read these particulars as follows:1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement of representation or fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore, no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in the particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property, this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by an intending purchaser. 7. Descriptions of the property are inevitably subjective and the descriptions contained herein are given in good faith as an opinion and not by way of statement of fact. Plans are published for convenience of identification only and although believed to be correct, their accuracy is not guaranteed and they do not form part of any contract. January 2020. Designed and produced by Creativeworld. T: 01282 858200.
MILES MARTENT 020 7317 3777M 07770 748 290E [email protected]
JACK LLOYDT 020 7317 3796M 07747 883 231E [email protected]
AVISON YOUNG22 Ganton StreetLondonW1F 7FD
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