5-6 Broad Street & Valentines Walk

LUDLOW SY8 1NG

A Rare Opportunity to Acquire a Prime Retail and Leisure Investment in the Popular Town of Ludlow

Investment Considerations Attractive Grade II listed Tudor period buildings located in the market

town of Ludlow

Ludlow benefits from good communications being located on the A49 link road and Ludlow railway station provides direct services to major cities

60% of the income is secured to the 5A1/4A1 covenants of Holland & Barrett Retail Ltd and Tasty Plc

Situated on a prominent junction between three main retailing streets

Totalling approximately 13,195 sq ft (1,225.9 sq m)

Freehold

Total passing rent of £137,700 pa

Attractive AWULT of 16.7 years to expiry and 7.4 years to break

We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 6.48% after costs of 6.28%

5-6 Broad Street & Valentines Walk, Ludlow SY8 1NG

LocationThe historic market town of Ludlow is the largest in the South Shropshire district and is located 57 km (36 miles) west of Birmingham, 39 km (24 miles) north west of Worcester and 35 km (24 miles) north of Hereford.

The town benefits from good road communications being situated on the A49 which links Hereford with Shrewsbury. The A456 starts to the south of Ludlow which links the town to Kidderminster and Birmingham.

Rail links are good with direct services from Ludlow station to Manchester Piccadilly, Crewe and Cardiff with fastest journey times of 1 hour 57 minutes, 1 hour 9 minutes and 1 hour 34 minutes respectively.

Birmingham International Airport is located approximately 66km (41 miles) to the east providing a large range of national and international flight destinations.

M1

M11

M25M25

M25

M40

M40

M42

M50

M32

M27

M23

M20

M2

M6 TollM54A49

A456

A483 A458

A49

M42

M69

M1

M1

M6

M6

M6

M6M5

M5

M5

M4M4M4

M3

M62M62

M65

M60

M56M56

M58

M53

M55

M66M18

A1(M)

A1(M)

A3(M)

A74(M)

A1(M)

A1(M)

M180

M74

M77

M8M8

M9M80

M90

M73

A1(M)

LONDONCardiff

ReadingSwindon

Basingstoke

SouthamptonPortsmouth

Taunton

OxfordLuton

Cambridge

Birmingham

KidderminsterAberystwyth

Bangor Chester

Wrexham Stoke on Trent

Northampton

Gloucester

Worcester

Hereford

Shrewsbury

LUDLOW

MiltonKeynes

Leicester

Bath

Exeter

Merthyr Tydfil

Swansea

Bristol

B4361

Old Street

B4361

Old Street

B4361

Linney

Linney

Dinham

Dinham

Cam

p Lane

Dinham

Mill Street

Bell Lane

Brand Lane

Castle Square

High Street

King Street

Tower Street

Upper G

aldefold

Gra

vel H

ill

Upper Linney

College Street

Market Street

Broad Street

Raven Lane

Lower Raven Lane

Silk M ill Lane

Broad Street

Station Drive

Station Drive

Lower Galdeford

Townsend

Clo

se

St John’s Road

Fria

rs G

arde

n

Julian Road

St. Julians Avenue

Valentine’s W

Pepper Lane

LUDLOW

RIV

ER T

EME

LUDLOW RUGBYFOOTBALL CLUB

LUDLOWCASTLE

LUDLOWCOLLEGE

LUDLOWLIBRARY

TESCOSUPERSTORE

ALDI

5-6 Broad Street & Valentines Walk, Ludlow SY8 1NG

25 metres

For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

Ludlow

Experian Goad Plan Created: 07/09/2016Created By: Allsop

Copyright and confidentiality Experian, 2016. © Crown copyright and databaserights 2016. OS 100019885

COBBAMOS

TASTE AT NO1

MARKET

WHITE STUFF

TI ADORO

VACANT

DemographicsLudlow is an attractive market town with a population within 5 miles of the town estimated to be circa 17,000. The spending power within the local area is evidenced by the 30% of households within a 5 mile radius of the town that boast an annual income of £40,000 or higher.

Tourism is a major influence on the local economy with the town including over 500 listed buildings, Ludlow Castle and regular festivals and fairs.

SituationThe property is located on the eastern side of Broad Street at its prominent junction with the High Street and King Street. The immediate vicinity is made up of retailers, restaurants and tourist focussed operators including WH Smith, Barclays Bank, Fat Face Clothing, Costa Coffee and Crew Clothing.

The main retail provision in Ludlow is situated in the historic town centre with national and local operators trading predominantly along the High Street, King Street and Broad Street.

Ludlow market has taken place in front of the castle for over 900 years attracting tourists and locals increasing footfall within the town centre. Ludlow market is held every Monday, Wednesday, Friday and Saturday all year with specialist markets most Thursdays and Sundays.

DescriptionThe property comprises three retail units, a restaurant and a 9 bedroom bed and breakfast.

5-6 Broad Street is a Grade II listed building arranged over ground, first, second and basement floors. Internally the property comprises a ground floor restaurant with additional seating to the rear and part first floor. The remainder of the first floor comprises a kitchen and ancillary accommodation. The second floor and basement provide further ancillary accommodation.

Unit 1 Valentines Walk is a Grade II listed building with a frontage onto Broad Street arranged over ground and basement. Internally the property comprises a ground floor sales area with ancillary accommodation with further ancillary accommodation in the basement.

Units 3, 4 and 5 Valentines Walk provide retail accommodation on the ground floor with ancillary accommodation on the first floor.

The Town House provides a 9 bedroom bed and breakfast arranged over ground, first and second floors.

© Crown Copyright, ES 100004106. For identification purposes only.

5-6 Broad Street & Valentines Walk, Ludlow SY8 1NG

Tenancy

Address Tenant Floor Area (sq ft)

Area (sq m)

Lease Start Lease End (Lease Break)

Review Current Rent pa (ITZA psf)

Comments

5 - 6 Broad Street Tasty Plc (t/a Wildwood Kitchen)

GF 3,101 288.1 21/05/14 20/05/39 (21/05/29)

20/05/19 £60,000 (£13.18 psf overall)

Schedule of condition attached to lease.

First 2,352 218.5

Second 1,037 96.4

Basement 312 29.0

Total 6,802 631.9

Unit 1 Valentines Walk Holland and Barrett Retail Ltd GF 982 91.2 29/04/10 28/04/20 £22,000 (£27.66)(ITZA) 765 71.1

Basement 562 52.2

Total 1,544 143.4

The Townhouse, Valentines Walk Bosi Accommodation Ltd (t/a The Townhouse)

Total 3,371 313.2 01/09/14 31/08/34 (01/09/19)

31/08/19 £40,000 Floor area stated is the gross combined area of the 9 rooms.

Unit 3 Valentines Walk N Spa Tanning & Beuty Spa (t/a Nail Spa and Beauty Salon)

GF 429 39.8 01/06/16 31/05/21 £5,500 (£14.55)(ITZA) 765 71.1

1F 287 26.7

Total 716 66.5

Unit 4 Valentines Walk Bosi Accommodation Ltd (t/a The Townhouse)

GF 248 23.1 13/01/15 31/08/34 (12/07/20)

13/01/20 £5,200 (£19.72)(ITZA) 248 23.1

1F 185 17.2

Total 434 40.3

Unit 5 Valentines Walk Heidi Boden (t/a Jigsaw Hair Design)

GF 231 21.4 01/10/16 30/09/21 £5,000 (£20.93)

Lease renewal in solicitor’s hands.

(ITZA) 231 21.4

1F 98 9.2

Total 329 31

Total 13,195 1,225.9 £137,700

CovenantHolland & Barrett Retail Ltd - Dunn & Bradstreet rating 5A1

Holland & Barrett is the UK’s leading retailer of vitamins, minerals and herbal supplements. Holland & Barrett has over 145 years of experience in the health supplement industry and operates from over 620 outlets across the UK and Ireland. Holland & Barrett Retail Ltd in September 2015 reported a turnover of £424,662,000, a pre-tax profit of £129,456,000 and a total net worth of £326,224,000.

Tasty Plc - Dunn & Bradstreet rating 4A1

Wildwood is a collection of restaurants that focus on providing freshly prepared Mediterranean food. There are currently 48 restaurants across the UK. Tasty plc in December 2015 reported a turnover of £35,794,000, a pre-tax profit of £3,067,000 and a total net worth of £21,814,000.

AWULT16.7 years to expiry and 7.4 years to break.

TenureFreehold.

EPCAvailable upon request.

VATThe property will be subject to VAT although we anticipate the sale will be treated as a Transfer of Going Concern.

5-6 Broad Street & Valentines Walk, Ludlow SY8 1NG

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design Command D www.commandHQ.co.uk 09.16

Andy Pointon020 7543 6720andy.pointon@allsop.co.uk

For further information or to make arrangements for viewing please contact:

Jonathan Butcher020 7543 6755jonathan.butcher@allsop.co.uk

Lottie Hayward020 7543 6750lottie.hayward@allsop.co.uk www.allsop.co.uk

ProposalWe are instructed to seek offers in excess of £2,000,000 (Two Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 6.48% after costs of 6.28%.

5-6 Broad Street & Valentines Walk, Ludlow SY8 1NG