B&Q MACCLESFIELD Statham Street, Macclesfield, SK11 6XF

Transcription

1 MACCLESFIELD Statham Street, Macclesfield, SK XF OPEN A NON-FOOD RETAIL WAREHOUSE INVESTMENT OPPORTUNITY ENTER

2 Statham Street, Macclesfield, SK XF Macclesfield is one of the most affluent towns in the UK, located in Cheshire, 0 miles south of Manchester. The town is ranked 8th in the country by PMA in terms of affluence. Retail warehousing in Macclesfield is limited, with many national retailers not represented here, including Dunelm, Lidl and TK Maxx, giving strong re-letting prospects should the tenant ever vacate. The unit totals,0 sq ft and is let at a rent of 9,89 per annum (. per sq ft) to the A D&B rated covenant of plc. Attractive unexpired lease term in excess of 8 years. The property benefits from an open A non-food consent. Large site area of. acres with long term residential development possibility, subject to planning. Potential to re-gear the lease with closer to lease expiry. We are seeking offers in excess of,,000 (Six Million, Six Hundred and Forty Five Thousand Pounds). A purchase at this level reflects an attractive net initial yield of.00%, assuming purchaser s costs at.%.

3 A A0 A9 ton d M Standish sdale M Blackburn 8 9 M 0 A A M Warrington 0 9 Chorley Rochdale M Bury M Bolton A8 Wigan Northwich Crewe A Darwen Statham Street, Macclesfield, M 9 Huddersfield SK XF M0 M 8 Sandbach Nantwich 9 0 Salford M0 9 Stockport Cheadle MANCHESTER A Wilmslow Knutsford Alderley Edge A A 8 0 Burnley BRADFORD Accrington Todmorden Halifax A A8 A8 Rawtenstall A BIRMINGHAM M M Castleford Batley 0 M Dewsbury 0 WakefieldPontefract 8 M 9 M A0 MACCLESFIELD EAST MIDLANDS M M 8 M9 M 0 A(M) M8 Location Macclesfield is an affluent market town located in North-East Cheshire, situated approximately 0 miles to the south of Manchester and miles north of Stoke on Trent. The town is in an accessible location and benefits from excellent road communications, Boston with Junction 9 of the M motorway being located approximately miles west. Macclesfield is also only miles south of Manchester s orbital motorway, the M0. The National Rail train station is located within half a mile of the subject property, providing frequent King's trains to surrounding towns, including Lynn Manchester (0 minutes) and Stoke on Trent ( minutes). Macclesfield Eas also benefits from a direct train link to London Dereh Euston with Wisbech a journey time of hour 0 minutes. Therefore, Downham some residents of the Swaffham town commute Market to not only Manchester, but to London too. March Manchester Airport is situated 8 miles north west of the town and provides flights to UK, European and worldwide destinations. A9 MANCHESTER A A A Stone A0 A A8 MACCLESFIELD Congleton Biddulph Kidsgrove A00 A A8 A8 A Leek Brighouse A A A8 Glossop A A A A Newport Rugeley Ashby-dela-Zouch A M Cannock Lichfield Telford M Brownhills Tamworth M(T) M Aldridge Walsall WOLVERHAMPTON Sutton 0 Coldfield Bridgnorth Willenhall 8 Hinckley 9 West Bromwich M Nuneaton Dudley 8 Halesowen BIRMINGHAM Ely M Solihull 9 Kettering Kidderminster COVENTRY Rugby Huntingdon Mildenhall Stourporton-Severn Bromsgrove Catchment & 8 LocationM Aerial M St Ives M0 Leamington Wellingborough Rushden A Redditch Warwick Spa Newmarket Northampton STOKE-ON-TRENT Ashbourne Newcastle- A Under-Lyme Stafford Buxton A Uttoxeter A A A8 A A A A Chesterfield A9 Garforth A A8 Dronfield A 0 A9 A Selby A A Clay A Cross Sutton Mansfield in Matlock Ashfield WEST 8 Kirkby PARK in Ashfield A8 Ripley Belper Hucknall Eastwood Ilkeston A DERBY Burton upon Trent Hemsworth Barnsley Newarkon-Trent P R E Rotherham S T B U R Y R OA D NOTTINGHAM CUMBERLAND STREET Long Eaton LEICESTER O X F O R D R OA D Beeston A0 Doncaster A A A0 A A M80 A Melton Mowbray Wigston Thorne P R E ST B U RY R OAD CHESTER R O A D CROMPTO N ROAD BEDFORD ROAD CAMBRIDGE ROAD A A A08 Retford A A0 A Goole M A A A0 8 M8 A A PARKMarket Harborough A9 A00 Scunthorpe M80 Gainsborough Grantham A A A A0 A A A0 A A A Stamford Corby A A A A A A A A0 A A A0 A8 A A A A Immingham Grimsby Spalding A9 A A A A A A Cleethorpes from excellent Louth road communications Lincoln HULL Macclesfield is in a highly accessible location benefiting W. BOND ST PARK LANE WEST M I N S T E R R O AD GREAT KING STREET RD RYLES PARK BOND STREET COARE STREET BRIDGE STREET UNION ST STATHAM C H U R C H I L L W AY STREET VINCENT STREET A SOUTH B E E C H L A N E A MILL ST JORDONGATE ROE STREET A S U NDERLAND S T ROAD T HE SILK A H U R D S F Q U E E N S A V E IEL D R O A D VICTORIA PARK F E N C E AV E BUXTON ROAD WINDMILL PARK A A Peterborough A A A A8 A A A0 A A A0 A A A0 A A A8 A A0 Thetfo

4 Statham Street, Macclesfield, SK XF RAILWAY STATION THE SILK HALFORDS ROAD A ALDI DW FITNESS BUS STATION PARK HALFORDS LANE A B&M BARGAINS HALFORDS RESIDENTIAL DEVELOPMENT SITE TOPPS TILES CHURCHILL HALFORDS WAY EVANS CYCLES

5 Statham Street, Macclesfield, SK XF Macclesfield has a primary catchment population of 8,000 people, with,0 people living within a 0 minute drive time of the subject property, extending to 0,0 people within a 0 minute drive time (CACI). The Borough of Macclesfield, which includes Wilmslow and Knutsford, is one of the most prosperous parts of the UK, with low unemployment, a thriving economy and a well-educated work force. Macclesfield is one of the most affluent of the PMA catchments, ranking 8th out of the top 00 PMA Retail towns. The relative affluence of the town is demonstrated as follows: Affluence Indicator Macclesfield Comparable Town Average Top 00 Retail Towns Average PMA Rank out of 00 ( = best) % AB (most affluent) social group % 9% % - % DE (lease affluent) social group 9% 9% % - % of households with or more cars % % % - % of owner occupied household % % % Per capita in store comparison expenditure 0, m, m,00 m 8 Per capita retail warehouse expenditure Forecast growth in comparison retail expenditure 0-00 (% per annum) Unemployment as % population aged - March 0.%.%.8% 0.%.%.%

6 Statham Street, Macclesfield, SK XF Macclesfield Retail warehousing in Macclesfield is limited, and is focused within main areas, including where the subject property is located. The dominant scheme is Lyme Green Retail Park, owned by Orbit Developments. This is anchored by Homebase, Next and Matalan, with further retailers including Pets at Home, Poundstretcher, Harveys, Carpetright and Currys. The scheme totals,000 sq ft and benefits from an open A non-food planning consent. PR E S TBURY ROA D M A N C HESTER ROAD A THE SILK R D SILK RETAIL PARK HULLEY ROAD R A I NOW ROAD To the north of Macclesfield is Silk Retail Park, a unit bulky goods scheme comprising adjoining units let to Wickes and Oak Furniture Land and a standalone McDonald s unit. This is also owned by Orbit Developments. MACCLESFIELD A B0 GROSVENOR SHOPPING CENTRE Situation The remainder of the retail warehousing comprises standalone units, with a 9,00 sq ft Halfords in close proximity to the subject property. B&M Bargains and DW Sports have units in the town centre in close proximity to the train station. The lack of retail warehousing in the town results in many national retailers not being represented here, including Dunelm, The Range, Argos and TK Maxx. The acquisitive food retailers, including Waitrose and Lidl, also do not have stores in the town. The Borough of Macclesfield, which includes Wilmslow and Knutsford, is one of the most prosperous parts of the UK A CONG LETON ROA D D O X F O RD R O A A B O N D S T R E E T LYME GREEN RETAIL PARK CHURCHILL WAY LONDON ROAD A B U X T O N ROAD DW SPORTS B&M HALFORDS BYRONS L ANE The subject property is situated on an elevated site that is accessed from Statham Street, which connects directly to Union Street at the front of the property and, in turn, Churchill Way. Churchill Way forms one of the principal routes through the town connecting the A to the south and the A to the north. The elevated position of the subject premises means the property benefits from good prominence to the main road. The site is located within a mixed commercial and residential area approximately 0. miles south west of the town centre. Adjacent to the property is a standalone unit let to Halfords and directly adjacent is a site which is currently being redeveloped to provide ten - bedroom terraced houses, and a two to three storey apartment block consisting of seven bedroom apartments.

7 Statham Street, Macclesfield, SK XF Description The subject property comprises an attractive standalone unit arranged across ground and first floors. The store totals, sq ft at ground floor level and, sq ft at first floor, giving a total rentalised area of,0 sq ft The unit has been fitted out to s specification and benefits from having first floor staff offices and an external garden centre. There is no mezzanine floor, but there is sufficient eaves height to install one, subject to planning. The unit has a front lobby of circa 00 sq ft, which is not rentalised, and a large canopy entrance feature. have recently refurbished their unit, spending over 0,000 on the building, demonstrating their commitment to this location. Car parking is located to the front of the unit providing spaces and trolley bays. spaces are taken up by a burger van, which is popular with s customers, particularly as there is no other food offer close by. Inclusive of trolley bays, the car parking ratio is more than adequate for s and indeed other retail uses at : sq ft. Servicing is located to the side of the unit, adjacent to the garden centre, with a segregated access. The site totals. acres, equating to a low site cover of %. The site has the potential to be developed for housing in the future and there is residential surrounding the site. However, we do not foresee wishing to vacate from their unit.

8 Statham Street, Macclesfield, SK XF CROSSALL STREET UNION STREET HURCHILL WAY Tenure & Tenancy The site is held freehold, as delineated in red on the plan opposite. PARADISE STREET 8.9m STATHAM STREET El Sub Sta The property is let to plc on a year full repairing and insuring lease expiring on 0 October 0, giving in excess of 8 years unexpired. The current rent is 9,89 per annum, equating to. per sq ft. Rent reviews are yearly and upwards only to open market rental value. The next review is effective from October 09. We believe there is the opportunity closer to lease expiry to re-gear the lease with. Planning 8 Statham Court Depot 8 Planning was originally applied for in September 98 for the erection of a DIY store, on the condition that the building should be used only as an open A non-food retail warehouse. There are no restrictions with respect to sub-division or mezzanine floors. Therefore, the property has an attractive planning consent allowing nonbulky goods retailers such as Matalan, TK Maxx, etc, to trade from the site in the future. 8 Tenant Covenant Mill Posts VINCENT STREET Works.9m 0 NELSON 9 STREET.m m plc are the largest home improvement and garden centre retailer in the UK, employing over,000 people nationwide across 0 stores. is a wholly owned subsidiary of Kingfisher plc, a FTSE00 company, with a market capitalisation of 8. billion. Kingfisher are an international home improvement company operating nearly,00 stores in 0 countries across Europe. Its main brands are, Castorama, Brico Dépôt and Screwfix. plc benefit from a A D&B rated covenant and the most recent tenant accounts are as follows: Tenant Year Ending Sales Turnover (000 s) Profit / Loss Pre Tax (000 s) Net Worth (000 s) D&B Rating 9 8 No Court.9m HOBSON STREET 9.m 09 PARK LANE m Indicative plan only plc /0/0,0,000-8,900,9,00 /0/0,,000,00,8,900 A 0m 0m 0m 0m to 0 PH 9

9 Statham Street, Macclesfield, SK XF EPC The property has a B8 EPC rating. A copy of the certificate is available on request. VAT The property has been elected for VAT and therefore VAT is payable. However, we anticipate the transaction to be treated as a TOGC. Proposal We are instructed to seek offers for the above property based on an attractive net initial yield of.00% (assuming purchaser s costs at.%), giving a purchase price of,,000 (Six Million, Six Hundred and Forty Five Thousand Pounds), subject to contract and exclusive of VAT. Further Information Ellie Kirkby Paul Wilkinson T: T: M: M: 00 8 E: e.kirkby@wilkinsonwilliams.co.uk E: p.wilkinson@wilkinsonwilliams.co.uk Wilkinson WIlliams Heathcoat House 0 Savile Row London WS PR MISREPRESENTATION NOTICE. Wilkinson Williams LLP give notice to anyone who may read these particulars as follows:. 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.. 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.. 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.. 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.. Any areas, measurements or distances referred to herein are approximate only.. 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.. 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. September 0. Designed and produced by Creativeworld Tel: