For Sale. Broughton Court. Prime Retail & Residential Investment Opportunity in affluent town of Harrogate STARBECK HARROGATE HG2 7JD

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Jemima Kelley
5 years ago
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1 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Broghton Cort

2 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Investment Smmary Harrogate is one of the most poplar, afflent and vibrant towns in the UK The town attracts an estimated 1.5 million torists each year Sitated in the poplar residential sbrb of Starbeck, 1 mile east of Harrogate town centre The property comprises a new development of 2 retail nits and 7 highly specified residential nits Prominent frontage to High Street in an established retail location with nearby occpiers inclding KFC, Halfords, Co-Op and Sbway 13,000 daily vehicle movements On-site car parking for both the residential and retail nits Retail nits let to Pets Corner and and a Costa Coffee franchise with a WAULT of years to expiry and years to break. Seeking offers in excess of 1,980,000, sbject to contract and exclsive of VAT. Assming standard prchase costs of 6.28%, this wold reflect: An apportioned yield of 7.92% on the retail Overall rnning yield of 6.00% with residential nits let at forecast rental levels Average retail capital vale of 203 per sq ft overall Average residential capital vale of 230 per sq ft overall Broghton Cort 2

3 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate 48 Location The historic spa town of Harrogate lies at the heart of North Yorkshire, approximately 212 miles north of London, 16 miles north of Leeds and 19 miles west of York. The town is served by the a main rote from Leeds to Thirsk and the A59 main rote from York to Preston. Leeds Bradford International Airport is sitated 10 miles to the soth of the town. Harrogate is also well served by the rail network with Harrogate Railway Station providing freqent services to London (Kings Cross), via York, with a fastest jorney time of approximately 2 hors 40 mintes. GLASGOW ABERDEEN EDINBURGH NEWCASTLE CARDIFF LEEDS Broghton Cort Harrogate is home to one of Erope s largest exhibition and conference centres and has many hotels and restarants catering for the reglar inflx of visitors. The town is also poplar with torists and is famos for its tea-shops, flower shows, Trkish Baths and antiqe shops. MANCHESTER SHEFFIELD HARROGATE LONDON 0 8 A A56 A560 A A6010 4/1 A6010 A34 19 MANCHESTER MANCHESTER 20 A6 M60 20 M627 (M) A635 A57 STOCKPORT M A A6033 M62 OLDHAM 24 M67 A A646 ASHTON-UNDER-LYME GLOSSOP A6 HALIFAX LKLEY A650 BRADFORD A6036 BRIGHOUSE HUDDERSFIELD A65 A658 A644 A650 A A59 HARROGATE DEWSBURY A653 A637 A658 LEEDS A642 6 A653 M /42 SHEFFIELD 20 A M M1 A57 46 A59 WETHERBY WAKEFIELD BARNSLEY A64 A A1 A63 A /48 CASTLEFORD A57 A635 ROTHERHAM 33 32A/ A1 A638 A A57 A A64 A1 M18 A63 A638 A19 A631 A MEXBOROUGH 36 A19 A19 YORK SELBY A A1(M) 3 A19 DONCASTER 34 A63 A64 A A6

For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Demographics Harrogate has one of the most afflent catchment poplations in the UK with the following key

between 2015 and 2020. Harrogate attracts a shopper expenditre potential of 461 million with hosehold spend on non-food L England (sorce: Axicom).

4 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Demographics Harrogate has one of the most afflent catchment poplations in the UK with the following key characteristics:- Starbeck A5 9H arr og at e Approximately 160,000 people live within a 10km radis with the gross catchment poplation expected to increase to 15% higher than the national average between 2015 and Harrogate attracts a shopper expenditre potential of 461 million with hosehold spend on non-food L England (sorce: Axicom). Harrogate Kn Greys, Florishing and Secre Families relative to the GB average of 38%. oa d a ad Ro ok o br re o nareb A59 K R rogh S oad st M Fore oor oad Ho ton oks e riv ed Ho ton oks ec has e Broghton Cort Harrogate has an estimated annal visitor spend of 33 million on non-food retail goods and 26 million on eating ot. Unemployment is significantly lower than the UK average at 4.8% compared to 6.5% nationally (sorce: ONS) Sitation The property is located in the poplar residential sbrb of Starbeck, approximately 1 mile east of Harrogate Town Centre. Sitated fronting High Street and Knaresborogh Road, the locality represents a well-established retailing area with nearby occpiers inclding Co-Op Food, KFC, Lloyds Pharmacy, Sbway and Halfords. The property is sitated directly opposite Starbeck train station. Broghton Cort S TA R B E C K H A R R O G AT E H G 2 7 J D d R oa Towards York We the rby R The town attracts an estimated 15 million torists per annm and a frther 500,000 conference visitors to the Harrogate Centre. igh Forest Lane 58% of the poplation is categorised in the ACORN grops Wealthy Exectives, Afflent H A59 k 9S Average hosehold income in the district is arond 15% higher than both North Yorkshire and et t re A5 ip to nr Harrogate has more pscale residents within 10 miles than Leeds, York, Cheltenham and Bath. ne st La Fore Starbeck Station goods 8% higher than the national average. ad Ro 4

For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Description The property is on the site of a former pblic hose which is being completely redeveloped to provide

5 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Description The property is on the site of a former pblic hose which is being completely redeveloped to provide two retail nits at grond floor level with 7 residential apartments at first and second floor levels. The property will benefit from 14 shared car spaces for the retail element and 5 permitted car spaces for the residential apartments. Practical completion of the residential nits is schedled for 28 Jly Practical completion of the retail nits is schedled for 28 May Both the residential and retail nits are being constrcted and finished to a very high standard. A detailed specification is available in the data room. The property is being constrcted by Landmarks UK. The residential nits will benefit from a 10 year LABC garantee. Broghton Cort 5

For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Accommodation Tenre The property comprises the following accommodation:- Freehold Demise GIA Sq Ft Retail: Unit

6 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Accommodation Tenre The property comprises the following accommodation:- Freehold Demise GIA Sq Ft Retail: Unit 1 2,287 Unit 2 1,935 Sb-total 4,222 Residential: Unit 1: Two-bed with terrace 791 Unit 2: Two-bed with terrace 783 Unit 3: One-bed apartment 650 Unit 4: One-bed apartment 553 Unit 5: One-bed apartment 698 Unit 6: Two-bed apartment 780 Unit 7: Two-bed apartment 690 Sb-total 4,945 Total 9,167 Second Floor Plan (Flat 6) 2 bedrooms, 69.8 sqm First Floor Plan (Flat 1) 1 bedroom, 57.1 sqm Broghton Cort 6

7 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Tenancies The retail nits are pre-let in accordance with the tenancy schedle below and will prodce a rental income of 70,000 per annm. Unit Tenant Lease Term Break Rent per annm Rent Free Period Car Spaces 1 Pets Corner (UK) Ltd 15 years 40,000 2 Tamp N Swirl Ltd t/a Costa 10 years Year 6 30,000 70,000 6 months (to be topped p by vendor) 6 months (to be topped p by vendor) 8 6 Residential Unit Capital Vale Capital Vale psf Rental Vale per calendar month Rental Vale per annm Description 1 FF 185, ,000 Two-bed, two bathroom apartment with terrace 2 FF 182, ,000 Two-bed, two bathroom apartment with terrace 3 FF 162, ,140 One-bed apartment 4 FF 125, ,300 One-bed apartment 5 FF 165, ,500 One-bed apartment 6 SF 172, ,700 Two-bed, two bathroom apartment 7 SF 150, ,700 Two-bed, two bathroom apartment 1,142,500 56,340 Potential Total Annal Rent 126,340 Broghton Cort 7

8 For Sale Prime Retail & Residential Investment Opportnity in afflent town of Harrogate Covenant Strengths VAT We set ot below financial smmaries of the tenants. Pets Corner (UK) Ltd Pets Corner (UK) Ltd is a UK-based pet retail chain store established in The bsiness is family rn and acqired Pamprred Pets in April 2016, which increased its stand-alone stores to 92. It also has 71 garden centre concessions. The property is elected for VAT and it is envisaged that the sale will be treated as a Transfer of a Going Concern (TOGC). EPCs Year Ending Trnover Pre-Tax Profit Net Assets 30/09/ ,861,495 2,822,968 4,006,692 30/09/ ,993,078 1,597,168 2,812,591 30/09/ ,169,010 1,489,637 2,608,451 The company has a Creditsafe Rating of 53 indicating low risk. Tamp N Swirl Ltd The company is a limited entity with share capital and is a Costa Coffee franchise bsiness formed in There are two directors of the bsiness. We nderstand the bsiness operates 10 franchises inclding sites in Wetherby and Greengates. Year Ending Trnover Pre-Tax Profit Net Assets 31/03/ ,421 31/03/ ,985 31/03/ ,431 EPCs will be provided at practical completion. Additional Information The following docments are available to view and download from the data room: Marketing details Warranties available to the prchaser Leases Floor plans Specification Title This company also has a Creditsafe Rating of 53 indicating low risk. Broghton Cort 8

24 High Street Proposal We are instrcted to seek offers in excess of 1,980,000 (One Million Nine Hndred and Eighty Thosand Ponds), sbject to contract and exclsive of VAT.

9 24 High Street Proposal We are instrcted to seek offers in excess of 1,980,000 (One Million Nine Hndred and Eighty Thosand Ponds), sbject to contract and exclsive of VAT. Assming standard prchase costs of 6.28%, this wold reflect: An apportioned yield of 7.92% on the retail Overall rnning yield of 6.00% with residential nits let at forecast rental levels Average retail capital vale of 203 per sq ft overall Average residential capital vale of 230 per sq ft overall Or client will consider separate offers for the residential nits (all nits) and the retail nits. Frther information For frther information or to arrange a viewing, please contact:- Mathew Atkinson DD: mathew.atkinson@e.jll.com Andrew Smmersgill DD: andrew.smmersgill@e.jll.com Crown Copyright All rights reserved. Promap licence nmber Jones Lang LaSalle licence nmber This plan is pblished for the convenience of identification only and althogh believed to be correct is not garanteed and it does not form any part of any contract. Disclaimer - JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:- a. the particlars are set ot as a general otline only for gidance and do not constitte, nor constitte part of, an offer or contract; b. all descriptions, dimensions, references to condition and necessary permissions for se and occpation, and other details are believed to be correct, bt any intending prchasers, tenants or third parties shold not rely on them as statements or representations of fact bt satisfy themselves that they are correct by inspection or otherwise; c. no person in the employment of JLL has any athority to make or give any representation or warranty whatever in relation to the property; d. Any images may be compter generated. Any photographs show only certain parts of the property as they appeared at the time they were taken. For properties in Scotland: e. This correspondence is expressly sbject to completion of formal legal missives in accordance with Scots Law. Copyright Jones Lang LaSalle IP Inc March All rights reserved.

HIGH STREET RETAIL INVESTMENT OPPORTUNITY 1&2 THUNDERTON PLACE, ELGIN, IV30 1LY

HIGH STREET RETAIL INVESTMENT OPPORTUNITY 1&2 THUNDERTON PLACE, ELGIN, IV30 1LY INVESTMENT SUMMARY Elgin is the administrative and commercial centre for Moray and lies roughly midway between Inverness