Co-Operative Supermarket Investment 30 Knaresborough Road, Harrogate, North Yorkshire, HG2 7LU. CGI for new signage

Transcription

1 Co-Operative Supermarket Investment 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU CGI for new signage

2 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU Investment Summary Situated in a busy, affluent suburb with excellent frontage onto a key arterial route into Harrogate 4,01 sq ft Gross Internal Area on ground floor with car parking spaces Site of acre providing a low site cover of just 3% Let to Co-Operative Group Food Limited Covenant is rated by D&B as 5A1 has an Experian Delphi Rating 100 (Low Risk) 15-year FRI lease from completion (Unbroken) 5,000 per annum ( 1.37 psf) 5 yearly upward only rent reviews linked to RPI (collared capped 1% - 3%) Freehold Future development potential should Co-Op release the upper parts Offers in excess of 900,000 (STC) Net Initial Yield of 5.47%

3 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU 3 Harrogate The historic spa town of Harrogate is situated in North Yorkshire approximately 4km (15 miles) north of Leeds 30.5km (19 miles) west of York. Located on the edge of the Yorkshire Dales National Park, the town is one of the principal tourist centres for the region. Harrogate benefits from excellent road communications being situated on the A61 linking with Leeds to the south Ripon to the north. The town is also well served by the national rail network with services connecting via York or Leeds to London Kings Cross. (journey time approximately hours 40 minutes). Tonge Moor UGQDQFH 6XUYH\ &URZQ &RS\ULJKW $OO ULJKWV UHVHUYHG /LFHQFH QXPEHU 3ORWWHG 6FDOH Harrogate is a major conference tourist destination with an estimated 7.5 million visitors annually, spending over 310 million in the local economy

4 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU 4 Situation The property is located in the popular residential suburb of Starbeck, approximately 1 mile east of Harrogate Town Centre. Situated fronting Knaresborough Road, the locality represents a well-established retailing area with nearby occupiers including Costa, Lloyds Pharmacy, Subway Halfords, amidst a number of local retailers wider residential uses. There is also a bus stop immediately outside the property.

5 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU 5 Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition). The property has the following approximate gross internal areas occupies a site of approximately acres (0.17 hectares): Co-Operative Sq m Sq ft Ground Floor (Sales) 4.6,414 Ground Floor (Ancillary) ,787 First Floor Unmeasured Total ,01 This provides a very low site cover of just 3% EPC Energy Performance Certificate will be provided upon completion. A 0-5 B 6-50 C D E F G over 150 Tenure 84 Freehold (title number: NYK115957). This is how energy efficient the building is. Tenancy The property is to be let to Co-Operative Group Food Limited on a full repairing insuring terms for a term of 15 years from completion of the sale. The initial rent of 5,000 per annum is subject to 5 yearly rental increases to RPI with a cap collar of 1% 3%. Competition Analysis There are only 5 competing convenience stores within a miles radius (10 minute off peak drive time). Tesco Express ( High Street) 0.6 miles Tesco Express (Cambridge Road) 1. miles Spar (135 Wetherby Road) 0.64 miles Spar (Skipton Road) 1. miles Sainsbury s Local (55 Leeds Road) 1.48 miles

6 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU 6 Mirror 400x SOAP Mirror 400x Fire Blanket wx800h Customer Promises In Action Board CLOCK STOOL Seat h760xw380 Overall h1010x435wx470d (based on Vent Stool). 00mm clear at rear STOOL Seat h760xw380 Overall h1010x435wx470d (based on Vent Stool). 00mm clear at rear STOOL Seat h760xw380 Overall h1010x435wx470d (based on Vent Stool). 00mm clear at rear 4NO. LOCKERS 4NO. LOCKERS 4NO. LOCKERS VENTILATION Vent Axia Expel Air (build into wall) 44w 450h largest hole depth if required See Co-operative Stard Specification Manual Scoping Documents for full latest specification. The CAD should be used as a setting out guide only. BREAKFAST BAR mm(d) 940mm to underside 40mm deep work top 10wx910h NOBO noticeboard - portrait Full length mirror Drawers w KITCHEN CUPBOARD OVER WORK-TOP 550w X 330d SISSONS STANDARD SINGLE SINK DRAINER Safe Drinking Water x510 unit, 38mm waste, elbow taps. Drinking Water. Non Catering Sink Paper Towel FIRST AID BOX WATER BOILER Double Socket SOAP AESEPTOL Kettle STEEL PLATE BEHIND OVEN UNDER COUNTER FRIDGE inc power Toaster mm(d) 865mm to underside 40mm deep work top mm cupboard under sink with a drawer unit coat hooks TV for staff briefings training. Must be stored in secure storage. 15" Wall mounted LCD-TV with built in DVD player. No freeview tuner. Stores with no training room OFFICE CHAIR OFFICE CHAIR MONITOR KEYBOARD MONITOR KEYBOARD PRINTER COMPUTER CUPBOARD (UNDER WORK-TOP) MANAGERS SAFE Based on a EuroGrade Size 1 507w x 60d 781h Cash k Secured to the floor against an external wall LOCKABLE FILING CABINET 965 door Vision Panel Version ROLL TOP SAFE Based on a EuroGrade Size 1 507w x 60d 781h Cash k Secured to the floor against an external wall 10wx910h NOBO notice board - lscape Coat Hooks CLOCK Worktop: 800mm(d)x 8mm thick length to suit Height under=865mm AFFL Shelving: no.x390mm(d) length to suit ALARM KEYPAD KEY CABINET WiFi COMMS CUP'D 390dxw wall mounted comms, cabinet inc 4 port patch panel h tbc 965 door Vision Panel Version CO HO UNKNOWN USE OF SPACE 1814 INDICATIVE FIRST FLOOR OFFICE STAFF ROOM TOILETS SLIM MAXIVISION WALLS DISPLAY UNIT 800w x 850d x 1335h (mm) CONDITION 1:1 RAMP EXTERNAL PLANT ELEC CUPBOARD CUSTOMER ENTRANCE/EXIT Double Auto Door 1 USB 050 EXTERNAL ATM with housing Maximum 1800h AREA TO BE KEPT CLEAR 100wxd can accommodate mm Accessories Imperial Unit d x 100h 000mm Tobacco Imperial Unit 580d x 100h Includes Dark Selling Door Frame 865MM COUNTER LOTTO 865MM COUNTER wxd can accommodate Wheelchair Turning Circle SPIRITS 000 LOTTO DREAMSTATION 500w x 645d 1995h Health Lottery Playst 300 Dia x 1850h Matwell OPEN WINDOW Full Height Graphics CONDITION CHILLED WINE 500 CONDITION CHILLED BEER 500 AMB. BEER 000 RED WINE UNIT 150w x d x 010h CONDITION UNIT 150w x d x 010h CONDITION UNIT 150w x d x 010h CONDITION CHILLED PRODUCE 3750 FRESH MEAT m LIONESS 4DR.5m GAZELLE COMPACT 500w x735d x 100h (mm) includes integrated lighting 1316 ERS ERS 9B DR 3.75m GAZELLE COMPACT COMBINED CHILLED 3750 COMBINED CHILLED 1875 COMBINED CHILLED 650 FROZEN REMOTE 4 FGD 314w x d x 110h (mm) CONDITION FROZEN REMOTE FGD 156w x d x 110h (mm) CONDITION FROZEN 6 FGD w x 500d 138 FLOOR CLEANER MAINS REQUIRED FOR CHARGING WATER BOILER CLEANING AREA CLEANERS CUPBOARD 10wx457x 189h SECURE BOND CAGE Wanzl Flat Bed 4-5 Nested 090w x 650d (mm) 1590 MILK 1.5m LIONESS 150w x735d x 100h (mm) includes integrated lighting 4DR.5m GAZELLE COMPACT 500w x735d x 100h (mm) includes integrated lighting SNACKS 1875 DRINKS 1875 Select most appropriate flooring for demographic & mission Mirror Clothes Pegs Finger Rinse Basin HANDWASH 50 Wall Mounted Rail Toilet Roll Alarm Pull Cord Drop Down Rail 1500 Wheelchair Turning Circle 140 INFILL MAGNETIC WHITEBOARD w 900h lscape Co-operative Bakery Tray w x 400d CO HO FClass Fire Blanket CO-OPERATIVE 0 TRAY 650d x 475w Ventilation hood above Recommended Minimum Service Area 1500 MONO OVEN FG158-B54 LEFT HAND HINGED w x 815d 000h Allow 50mm clearance 1 x 4Tray oven < 1500~ x 4Tray ovens > an additional cooling rack Leading Edge Fire Door Vision Panel (00xmm) Wall mounted Knife Holder Work-top 1500wxdx40(thick)mm (865h to underside) Packing space 150 minimum (1500 recommended) per oven. Leave minimum mm clear between work top underside of shelving. Bag Roll holder no. shelves 390mm(d) above work-top Half round white guttering for labels Ticketing machine requires 3 data points xdouble plug sockets underneath. PC Below max size=340wx40dx115h Label monitor is nominally 610x190x Monitor+Pole 610x190 Glove dispenser SOAP WHB SUPPLY AND INSTALL WHB WITH APRON SUPPORT SISSONS DEEP BOWL CATERING SINK SINGLE DRAINER SINK w x d unit Deep bowl x450 with 3 4 fill line, 38mm waste elbow taps First Aid Kit SOAP CHILLER Sq Ft FREEZER Sq Ft 4DR 1.875m GAZELLE COMPACT m LIONESS 1.875m LIONESS DR 3.75m GAZELLE COMPACT REAR YARD 1:1 RAMP 100wxd can accommodate SPIRITS 000 CONDITION CHILLED WINE 500 CONDITION CHILLED BEER 500 AMB. BEER 000 RED WINE FROZEN REMOTE FGD 156w x d x 110h (mm) CONDITION 138 FLOOR CLEANER MAINS REQUIRED FOR CHARGING WATER BOILER CLEANING AREA CLEANERS CUPBOARD 10wx457x 189h SECURE BOND CAGE Wanzl Flat Bed 4-5 Nested 090w x 650d (mm) Mirror Clothes Pegs Finger Rinse Basin HANDWASH 50 Wall Mounted Rail Toilet Roll Alarm Pull Cord Drop Down Rail 1500 Wheelchair Turning Circle 140 INFILL MAGNETIC WHITEBOARD w 900h lscape Co-operative Bakery Tray w x 400d CO HO FClass Fire Blanket CO-OPERATIVE 0 TRAY 650d x 475w Ventilation hood above Recommended Minimum Service Area 1500 MONO OVEN FG158-B54 LEFT HAND HINGED w x 815d 000h Allow 50mm clearance 1 x 4Tray oven < 1500~ x 4Tray ovens > an additional cooling rack Leading Edge Fire Door Vision Panel (00xmm) Wall mounted Knife Holder Work-top 1500wxdx40(thick)mm (865h to underside) Packing space 150 minimum (1500 recommended) per oven. Leave minimum mm clear between work top underside of shelving. Bag Roll holder no. shelves 390mm(d) above work-top Half round white guttering for labels Ticketing machine requires 3 data points xdouble plug sockets underneath. PC Below max size=340wx40dx115h Label monitor is nominally 610x190x Monitor+Pole 610x190 Glove dispenser SOAP WHB SUPPLY AND INSTALL WHB WITH APRON SUPPORT SISSONS DEEP BOWL CATERING SINK SINGLE DRAINER SINK w x d unit Deep bowl x450 with 3 4 fill line, 38mm waste elbow taps First Aid Kit SOAP CHILLER Sq Ft FREEZER Sq Ft 0 REAR YARD SLIM MAXIVISION WALLS DISPLAY UNIT 800w x 850d x 1335h (mm) CONDITION 1 No. EXISITNG PARKING SPACES 1:1 RAMP EXTERNAL PLANT ELEC CUPBOARD CUSTOMER ENTRANCE/EXIT Double Auto Door 1 Fire Exit - Directional Fire Inc no. FE HO = Water CO = Carbon Dioxide (Default FE) Fire Equipment Legend Emergency Lighting with exit sign directional arrow where necessary Type B - Glazed Type A - Flat Mirrored Key for Refrigeration Profiles For End Walls NOTE: Allow 100 gap at rear or pipework/ To be used on Remote cases only Type D - Mirrored Profile Back of House Notice-Boards to be positioned where needed Equality Guidelines Minimum 850mm pinch point Minimum mm turning circle Minimum 850mm gap behind the kiosk frontline to backline Leading edge on all swing doors to be 300mm minimum To apply where possible Fire Escape Route USB 050 EXTERNAL ATM with housing Maximum 1800h AREA TO BE KEPT CLEAR 100wxd can accommodate mm Accessories Imperial Unit d x 100h 000mm Tobacco Imperial Unit 580d x 100h Includes Dark Selling Door Frame 865MM COUNTER LOTTO 865MM COUNTER wxd can accommodate 1 3 Turning Circle Wheelchair SPIRITS 000 LOTTO DREAMSTATION 500w x 645d 1995h Health Lottery Playst 300 Dia x 1850h Matwell OPEN WINDOW Full Height Graphics CONDITION CHILLED WINE 500 CONDITION CHILLED BEER 500 AMB. BEER 000 RED WINE UNIT 150w x d x 010h CONDITION UNIT 150w x d x 010h CONDITION UNIT 150w x d x 010h CONDITION CHILLED PRODUCE 3750 FRESH MEAT m LIONESS 4DR.5m GAZELLE COMPACT 500w x735d x 100h (mm) includes integrated lighting 1316 ERS ERS 9B DR 3.75m GAZELLE COMPACT COMBINED CHILLED 3750 COMBINED CHILLED 1875 COMBINED CHILLED 650 FROZEN REMOTE 4 FGD 314w x d x 110h (mm) CONDITION FROZEN REMOTE FGD 156w x d x 110h (mm) CONDITION FROZEN 6 FGD w x 500d 138 FLOOR CLEANER MAINS REQUIRED FOR CHARGING WATER BOILER CLEANING AREA CLEANERS CUPBOARD 10wx457x 189h SECURE BOND CAGE Wanzl Flat Bed 4-5 Nested 090w x 650d (mm) 1590 MILK 1.5m LIONESS 150w x735d x 100h (mm) includes integrated lighting 4DR.5m GAZELLE COMPACT 500w x735d x 100h (mm) includes integrated lighting SNACKS 1875 DRINKS 1875 Select most appropriate flooring for demographic & mission Mirror Clothes Pegs Finger Rinse Basin HANDWASH 50 Wall Mounted Rail Toilet Roll Alarm Pull Cord Drop Down Rail 1500 Wheelchair Turning Circle 140 INFILL MAGNETIC WHITEBOARD w 900h lscape Co-operative Bakery Tray w x 400d CO HO FClass Fire Blanket CO-OPERATIVE 0 TRAY 650d x 475w Ventilation hood above Recommended Minimum Service Area 1500 MONO OVEN FG158-B54 LEFT HAND HINGED w x 815d 000h Allow 50mm clearance 1 x 4Tray oven < 1500~ x 4Tray ovens > an additional cooling rack Leading Edge Fire Door Vision Panel (00xmm) Wall mounted Knife Holder Work-top 1500wxdx40(thick)mm (865h to underside) Packing space 150 minimum (1500 recommended) per oven. Leave minimum mm clear between work top underside of shelving. Bag Roll holder no. shelves 390mm(d) above work-top Half round white guttering for labels Ticketing machine requires 3 data points xdouble plug sockets underneath. PC Below max size=340wx40dx115h Label monitor is nomina ly 610x190x Monitor+Pole 610x190 Glove dispenser SOAP WHB SUPPLY AND INSTALL WHB WITH APRON SUPPORT SISSONS DEEP BOWL CATERING SINK SINGLE DRAINER SINK w x d unit Deep bowl x450 with 3 4 fill line, 38mm waste elbow taps First Aid Kit SOAP PROPOSED DOOR OPENING. UNKNOWN STRUCTURAL IMPLICATIONS. UNKNOWN FLOOR LEVELS. PROPOSED EXTERNAL CHILLER. UNKNOWN DELIVERY ACCESS. UNKNOWN SHOP LOGISTICS/ACCESS. CHILLER Sq Ft FREEZER Sq Ft STAFF AREAS PROPOSED TO FIRST FLOOR. AWAITING PLAN. 4DR 1.875m GAZELLE COMPACT m LIONESS 1.875m LIONESS DR 3.75m GAZELLE COMPACT REAR YARD PROPOSED EXTERNAL CHILLER.. REDUCED SIZED EXTERNAL PLANT. ORDNANCE SURVEY MAP (NTS) INDICATIVE GROUND FLOOR ORDNANCE SURVEY MAP (NTS) INDICATIVE FIRST FLOOR

7 Co-Operative, 30 Knaresborough Road, Harrogate, North Yorkshire, HG 7LU 7 Covenant Status Co-operative Group Food Limited (Company Number: 6715R) is a wholly owned subsidiary of The Co-operative Group Ltd which was established in 1844 now operates 4,500 outlets with almost 90,000 employees has an annual turnover of billion. Co-operative Group Food is the UK s 5th largest food retailer with almost,800 local, convenience medium sized stores employing over 69,000 people. The company has been undertaking a rationalisation of its stores over the last 4 months with the disposal of a number of its larger stores smaller stores (McColls disposal) with the focus on retaining exping the convenience stores within its estate. The company opened over a 100 new convenience stores in 016 at a cost of 70m. A summary of Co-operative Group Limited accounts is set out below. Co-Operative Group Ltd 31/1/016 31/1/015 Turnover 9,47,000,000 9,01,000,000 Pre Tax Profits 13,000,000 3,000,000 Shareholder Fund 3,09,000,000,937,000,000 Jointly owned by over 7.9M individual members with over 4,500 retail outlets throughout the UK Experian Delphi Rating Dun & Bradstreet Rating Further information is available at VAT 100 (Very Low Risk) 5A1 VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a transfer of a going concern.

8 PROPOSAL We are seeking offers in excess of 900,000 for our client s freehold interest, subject to contract exclusive of VAT. A purchase at this level reflects the following yield profile, after deducting purchase costs. Net Initial Yield: 5.40% Reversionary Yield (0): 6.34% Reversionary Yield (07): 7.35% Capital Value: 14 psf We have applied an average RPI rate of 3% as an estimate of future rental growth yield. For further information or to arrange an inspection, please contact: James Kinsler Tel: jk@christopherdee.co.uk Mark Powell Tel: mp@christopherdee.co.uk Christopher Dee LLP 40 Peter Street Manchester M 5GP MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use occupation other details contained here in is not guaranteed is for general guidance only prospective purchasers or tenants must not rely on them as statements of fact or representations must satisfy themselves as to their accuracy. Christopher Dee LLP nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. January 018.