33-37 moor street, ormskirk, lancashire l39 … · 8 miles south east of southport, ... minerals...
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PRIME HIGH STREET RETAIL PARADE INVESTMENT OPPORTUNITY ANCHORED BY B&M
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
INVESTMENT CONSIDERATIONSn Ormskirk is a strong regional market town
with a diverse range of retailers
n Communications are good with the town being serviced by the A570 and regular train services to Preston and Liverpool
n The property provides 5 well proportioned retail units, situated on the prime retail pitch of Moor Street, totalling 24,722 sq ft
n Let to the strong covenants of B&M Retail Limited, Holland & Barrett Retail Limited and Carphone Warehouse Limited providing 67.5% of the total income
n Freehold
n Passing rent of £243,200 p.a.
n WAULT of approximately 6.84 years to expiry and 5.68 years to the break options
n Adjacent to the town centre’s main car park
n Offers sought in excess of £2,535,000 (Two Million Five Hundred and Thirty Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 9% assuming purchaser’s costs of 6.4%.
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
LOCATIONOrmskirk is a popular regional market town located approximately 8 miles South East of Southport, 12 miles West of Wigan and 12 miles North of Liverpool.
The town benefits from good transport links being located on the A570 which provides access to Southport 8 miles to the north west and the M58 4 miles to the south east and on to St Helens 11 miles to the south east. The town also benefits from the A59 which provides access to Preston 17 miles to the north east and Liverpool 12 miles to the south.
Ormskirk Railway Station is located in the heart of the town and provides direct trains to Preston via the West Lancashire Line and Liverpool Central via the Northern Line with a quickest journey time of 29 minutes and 30 minutes respectively.
Liverpool John Lennon Airport is located approximately 19 miles to the south and served approximately 4.3 million passengers in 2015 and was the 14th busiest airport in the UK.
M1
M11
M25
M25
M40
M40
M42
M6 TollM54
M42
M1
M1
M6
M6M5
M5
M62M65
M74M77
M8
M9
M80
M73
M60
M56
M66
M18
A1
A63
A15
A1
A1
A428
A14
A43
A47
A11
A11
A46
A38
A52
A52
A59
A59A59
A570
A1(M)
A1(M)
A1(M)
A1(M)
A1(M)
M180M58■
MANCHESTER■
ST HELENS
■NORWICH
■BRISTOL
■BATH
■PLYMOUTH
■PORTSMOUTH
■SOUTHAMPTON
LONDON
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SUNDERLAND■
CARLISLE
BIRMINGHAM■
WOLVERHAMPTON■
WALSALL■
OXFORD■
CAMBRIDGE■
PETERBOROUGH■
NORTHAMPTON■
IPSWICH■
LIVERPOOL■
LEEDS■
ORMSKIRK
NEWCASTLE UPON TYNE■
EDINBURGH■
PERTH■
DUNDEE■
DONCASTER■
YORK■
HULL■
LEICESTER■
■BUXTON
■SHEFFIELD
■ SCUNTHORPEBARNSLEY■
■HALIFAX
■MILTONKEYNES
READING■
SWINDON■
■COVENTRY
DERBY■
STAFFORD■
BOSTON■
■BOLTON
■SWANSEA
CARDIFF■
■GAINSBOROUGH
■GRIMSBY
■BRIGG
NOTTINGHAM■
NEWARK-ON-TRENT■
CHESTERFIELD■
SOUTHPORT■
BLACKBURN■
BLACKPOOL■
STOKE-ON-TRENT■
NEWCASTLE-UNDER-LYME■
LINCOLN■
GLASGOW
MIDDLESBROUGH
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
50 metres
Ormskirk
For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
Experian Goad Plan Created: 05/08/2016Created By: Allsop
Copyright and confidentiality Experian, 2016. © Crown copyright anddatabase rights 2016. OS 100019885
OR
MOO
RGAT
E
Wheatsheaf Walk
EE
PCs
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10a
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16to20
3
Market
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24
19
9
1 to 2
4 to 6
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1012
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21 to 25
PH
49.4m
48.8m
50.0mMonument
LEYLAND WAY
MOOR ST
MP12
Car Park
Slop
ingmas
onry
46
8
Station
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Head
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41
Centre
Bus
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27
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to27
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Surgery
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The
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El Sub Sta
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Store
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Community
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Christina House1 to 6
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0m 10m 20m 30m
Ordnance Survey © Crown Copyright 2016. All rights reserved. Licence number 100022432. Plotted Scale - 1:1038
MOOR STREET
RAIL
WAY
RO
AD
SITUATION The property is situated on Moor Street which is a pedestrianised street, considered to be the main retail pitch in the town with numerous national multiples including Starbucks, WHSmith, Clarks and Superdrug in close proximity.
The main thoroughfare from the train station into the town centre, Railway Road, runs adjacent to the B&M store at the rear.
The train station is situated approximately 400m to the north of the property and the bus station approximately 100m to the east.
SITE AREAThe property occupies a site area of 0.65 acres (0.26ha)
DESCRIPTIONThe property, of brick construction, provides five retail units arranged over ground and first floors, fronting Moor Street and forming part of a larger retail parade.
The property includes a B&M unit, accessed via a covered walkway from Moor Street, to the rear providing frontage and secondary access on to Leyland Way which also provides access to one of the main car parks in the town. The unit also benefits from a service yard to the rear accessed off Leyland Way.
Internally the units are arranged as retail units at ground floor and ancillary accommodation at first floor. Unit 37A benefits from a large floorplate at first floor level providing a cocktail bar.
TENUREFreehold.
CAR PARK
RAIL
WAY
RO
AD
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
TENANCY SCHEDULE
Address Tenant Area sq m
Area sq ft
Rent Passing p.a.
Rent ITZA
Lease Start
Lease Expiry
Break Date
Next Review
EPC Rating
Comments
33 Moor Street Holland & Barrett Retail Limited
GF Retail 80.7 869
£27,650 £46.75 11/04/15 10/04/20 11/04/15 C51 11/04/2015 rent review outstanding. The tenant's service charge is capped at 5.55% of the total expenditure attributed to the premises by the landlord.
(ITZA) 52.7 567
FF Storage 32.7 351
Total 113.4 1,220
35 Moor Street William Hill Organization Limited
GF Retail 80.7 868
£28,250 £47.83 27/05/10 26/05/30 27/05/20 + 27/05/25
27/05/15 + 27/05/20
C64 27/05/15 rent review outstanding. The tenant will benefit from 3 months rent free if 2020 break not exercised.
(ITZA) 51.9 559
FF Storage 43.3 466
Total 124.0 1,334
37 Moor Street The Carphone Warehouse Limited
GF Retail 80.3 864
£26,400 £45.35 26/06/15 25/06/20 26/06/18 C73(ITZA) 51.6 555
FF Storage 35.1 378
Total 115.4 1,242
37a Moor Street IKO Ventures Limited
GF Retail 105.1 1,131
£35,000 £54.01 24/09/09 23/09/29 24/09/14 + 24/09/19
D84 24/09/14 rent review outstanding. There is a lease guarantor - Ian Gordon.(ITZA) 60.2 648
Total 105.1 1,131
33-37 Moor Street IKO Ventures Limited FF Bar 238.3 2,565 £15,000 £5.85 (overall)
24/09/09 23/09/29 24/09/14 + 24/09/19
D84 24/09/14 rent review outstanding. There is a lease guarantor - Ian Gordon.
Ad Space at 33-37 Moor Street
Edward Lawrence McGuire
£900 15/11/14 14/11/19 15/11/17 Rent increases on the review date in line with RPI.
Supermarket (3 Railway Road, Ormskirk)
B & M Retail Limited
GF Retail 1,456.6 15,679
£110,000£6.38
(overall)16/06/10 15/06/20 16/06/15 D77
16/06/15 rent review outstanding. Service charge is £20,000 increased each year in accordance with RPI. This fixed service charge is personal to B&M Retail Limited. When the relevant side - letter is no longer relevant, service charge is a fixed percentage of 67.32% of the landlord's expenses.
FF Storage 144.1 1,551
Total 1,600.7 17,230
Total 2,296.9 24,722 £243,200
COVENANT INFORMATION
B&M Retail Limited
B&M Retail Ltd is a FTSE 250 company founded in 1978 and is now one of the leading variety retailers in the UK. From its first store in Blackpool, B&M has grown to over 450 stores and employs some 22,500 staff. B&M stores are located throughout England, Scotland, Wales and Northern Ireland.
29/03/2014 28/03/2015 26/03/2016
Turnover (000’s) £1,509,132 £1,526,181 £1,902,557
Pre-Tax Profit (000’s) £123,398 £151,063 £168,121
Total Net Worth (000’s) £281,228 £333,599 £430,372
The Carphone Warehouse Limited
Carphone Warehouse was founded in 1989 and is now part of Dixons Carphone – the largest independent telecommunications retailer in Europe. They now operate from over 1,100 stores across the UK and Ireland, and are also the number 1 independent mobile online retailer in the UK.
30/03/2013 29/03/2014 02/05/2015
Turnover (000’s) £1,671,731 £1,783,596 £2,056,123
Pre-Tax Profit (000’s) £98,895 £90,986 £77,146
Total Net Worth (000’s) £864,975 £955,778 £1,007,570
William Hill Organization Limited
Founded in 1934, William Hill is one of the most trusted brands in the marketplace attracting millions of customers from around the world. William Hill now employs more than 16,000 people in nine countries.
31/12/2013 30/12/2014 29/12/2015
Turnover (000’s) £15,339,482 £895,275 £873,900
Pre-Tax Profit (000’s) £212,269 £284,209 £246,400
Total Net Worth (000’s) -£731,094 -£685,427 -£625,000
Holland & Barrett Retail Limited
Holland & Barrett is Europe’s leading retailer of Vitamins, Minerals and Herbal Supplements. Their stores are a familiar sight in almost every major city and town across the United Kingdom and Ireland, where they operate over 620 outlets.
30/09/2013 30/09/2014 30/09/2015
Turnover (000’s) £349,637 £368,823 £424,662
Pre-Tax Profit (000’s) £84,309 £89,463 £129,456
Total Net Worth (000’s) £251,454 £260,473 £326,224
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
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. 09.16
Andy Pointon020 7543 6720andy.pointon@allsop.co.uk
Alex Neil020 7543 6895alex.neil@allsop.co.uk
For further information or to make arrangements for viewing please contact:
Richard Lea020 7543 6832richard.lea@allsop.co.uk www.allsop.co.uk
National Investments Commercial Auctions
PROPOSALOffers sought in excess of £2,535,000 (Two Million Five Hundred and Thirty Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 9% assuming purchaser’s costs of 6.4%.
SERVICE CHARGEThe budgeted service charge for the year from 25/12/15 to 24/12/16 is £44,025 which equates to £1.78 psf.
VATThe property is elected for VAT and therefore it is anticipated the sale will be treated as a TOGC.
33-37 MOOR STREET, ORMSKIRK, LANCASHIRE L39 2AA
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