ockleston bailey 48 MILL STREET, MACCLESFIELD SK11 6LT PRIME FREEHOLD RETAIL INVESTMENT LET TO TCCT RETAIL LIMITED Trading As CO-OP TRAVEL

Transcription

1 ocklesto bailey retail leisure ivestmet 48 MILL STREET, MACCLESFIELD SK11 6LT PRIME FREEHOLD RETAIL INVESTMENT LET TO TCCT RETAIL LIMITED Tradig As CO-OP TRAVEL

2 Ivestmet Summary Prime tradig locatio. A 5 year full repairig ad isurig lease to TCCT Retail Limited (Compay No ) tradig as Co-op Travel from 3 Jauary The curret retal is 31,000 p.a.x. which reflects Zoe A. The passig retal is re-based offerig excellet growth prospects i the future. The previous retal was 54,200 p.a.x. The subject property provides moder groud floor retail accommodatio with staff ad storage facilities located at first ad secod floor levels. The property has ot bee registered for VAT. A ideal SIPP purchase. Freehold. We are istructed to seek offers i excess of 325,000 for our cliets freehold iterest. A purchase at this level would reflect a et iitial yield of 9.21% after deductig purchasers costs of 3.57%. Locatio Macclesfield is a prosperous Cheshire market tow situated o the edge of the Peak District Natioal Park, approximately 19 miles south of Machester ad 18 miles orth of Stoke o Tret. The tow is situated at the itersectio of the A537 ad A523 with the M6 motorway situated approximately 14 miles to the west. The tow beefits from a mailie railway statio with direct ad regular services ito Machester Piccadilly (approximately 30 miutes) ad Lodo Eusto (approximately 2 hours). Machester Airport is situated approximately 10 miles to the orth west. Macclesfield has a tow populatio of approximately 51,000 people but ejoys a thrivig ad loyal catchmet populatio extedig to over 150,000 people. Ecoomy ad Demographics Macclesfield has a very affluet catchmet populatio with symbols of success, happy families ad suburba comfort all beig above the atioal average. I additio, 27.3% of the populatio are classed as Class Groupigs AB (higher ad itermediate maagerial, admiistrative ad professioal), compared to a GB average of just 21.7%. Home ad car owership are also above the atioal average ad the age structure ad employmet treds are broadly reflective of the atioal averages. Retailig i Macclesfield Macclesfield is a popular ad established shoppig destiatio providig approximately 900,000 sq ft of retail floor space. Prime retailig is situated alog the pedestriaised Mill Street which is cosidered the tow s pricipal shoppig thoroughfare. Mill Street is home to a umber of major atioal multiple retailers icludig Marks & Specer, River Islad, WH Smith, Waterstoes, Marks & Specer, Burto ad Poudlad. The tow s oly covered shoppig cetre, The Grosveor Cetre is situated just off prime Mill Street ad provides approximately 100,000 sq ft of retail accommodatio achored by Boots with TK Maxx shortly to fit out a substatial store withi the Castle Street Mall. Elsewhere withi the tow the Local Authority, Cheshire East Coucil, have closed the first roud of biddig for two sites i Macclesfield tow cetre earmarked for a ciema led leisure scheme. The site o Churchill Way is likely to be occupied by a 6 or 9 scree multiplex ciema ad five restaurat uits. The site liks directly with Mill Street via Exchage Street ad its presece will sigificatly improve pedestria flow withi the tow. The other site beig marketed by the Local Authority i Duke Street is likely to be retaied as oe of the tow cetre s major surface car parks. Agai this will beefit the subject property with pedestria flow icreasig alog Mill Street. The out of tow retail offer is largely restricted to Lyme Gree Retail Park (approximately 150,000 sq ft).

3 Situatio The subject property occupies a prime tradig locatio o the pedestriaised Mill Street beig adjacet to Boots Opticias ad Body Shop. Nearby multiple retailers iclude A Pla Isurace, The Works, River Islad, WH Smith, EE, Waterstoes, Millets, JD Sports, Marks & Specer, Visio Express, Icelad, CEX, O2, Poudlad, New Look ad Mothercare. Descriptio The property is arraged o groud, first ad secod floors ad is of brick costructio uder a pitched, slate roof. I additio there is a large sigle storey outrigger uder a asphalt flat roof at the rear. The uit has bee fitted out i the stadard Co-op Travel livery with a substatial, well cofigured sales area ad Bureau de Chage at the rear. The first ad secod floors provide staff, storage ad W.C. facilities. Accommodatio The premises are arraged o groud, first ad secod floors with the followig approximate areas ad dimesios:- Descriptio ft/sq ft m/sq m Iteral Width Shop Depth Groud Floor Sales 1, First Floor Acillary Secod Floor Acillary ITZA uits Teure The property is held freehold, subject to the teacy listed below. Teacy The property is let to TCCT Retail Limited (Compay No ) by way of a 5 year full repairig ad isurig lease from 3 Jauary 2014 without a ret review at a curret retal of 31,000 p.a.x. Coveat Iformatio Co-op Travel is ru as a joit veture betwee the Thomas Cook Group, the Co-operative Group ad Cetral Eglad Co-operative. The ew etwork is 65.5% owed by Thomas Cook, 30% owed by the Co-operative Group ad 3.5% owed by Cetral Eglad Co-operative. The merger took place i We set out below the most recet fiacial iformatio available for the teat. 30/09/ s 30/09/ s 30/09/ s Turover 310, , ,775 Pre-Tax Profit (13,179) 24,919 (25,869) Total Fixed Assets 224, , ,833 The holdig compay for TCCT Retail Limited is TCCT Holdigs Limited with the ultimate holdig compay beig Thomas Cook Group Plc. Source:- N2Check (part of Du & Bradstreet)

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5 50 metres Copyright ad cofidetiality Experia, Crow copyright ad database rights OS Macclesfield Experia Goad Pla Created: 12/04/2016 Created By: Ocklesto Bailey For more iformatio o our products ad services: goad.sales@uk.experia.com Produced by Word Perfect Prit. T: E: brochures@wordperfectprit.com

6 EPC A up to date EPC Certificate is attached to the rear of these particulars. VAT The property has ot bee elected for VAT purposes. Proposal We are istructed to seek offers i excess of 325,000 subject to cotract reflectig a et iitial yield of 9.21 % after deductig the usual purchasers costs of 3.57 %. Further Iformatio For further iformatio, or to arrage a ispectio of the property, please cotact Hugh Ocklesto, Ocklesto Bailey hugh@ocklestobailey.co.uk Subject to Cotract Date of particulars : April 2016 Misrepresetatio Act 1967 Ocklesto Bailey Ltd (ad their joit agets where applicable) for themselves ad for the vedors or lessors of this property for whom they act, give otice that : (i) these particulars are a geeral outlie oly, for the guidace of prospective purchasers or teats, ad do ot costitute the whole or ay part of a offer or cotract; (ii) Ocklesto Bailey Ltd caot guaratee the accuracy of ay descriptio, dimesio, refereces to coditio, ecessary permissios for use ad occupatio ad other details cotaied herei ad prospective purchasers or teats must ot rely o them as statemets of fact or represetatios ad must satisfy themselves as to their accuracy; (iii) o employee of Ocklesto Bailey Ltd (ad their joit agets where applicable) has ay authority to make ay represetatios or warraty or eter ito cotract whatever i relatio to the property; (iv) prices/rets quoted i these particulars may be subject to VAT i additio, (v) Ocklesto Bailey Ltd will ot be liable, i egligece or otherwise, for ay loss arisig from the use of these particulars.

7 Eergy Performace Certificate No-Domestic Buildig Co-operative Travel 48 Mill Street MACCLESFIELD SK11 6LT Certificate Referece Number: This certificate shows the eergy ratig of this buildig. It idicates the eergy efficiecy of the buildig fabric ad the heatig, vetilatio, coolig ad lightig systems. The ratig is compared to two bechmarks for this type of buildig: oe appropriate for ew buildigs ad oe appropriate for existig buildigs. There is more advice o how to iterpret this iformatio o the Govermet's website Eergy Performace Asset Ratig Techical Iformatio Bechmarks Mai heatig fuel: Grid Supplied Electricity Buildig eviromet: Air Coditioig Total useful floor area (m 2 ): 243 Buildig complexity (NOS level): 3 Buildig emissio rate (kgco2/m 2 ): Buildigs similar to this oe could have ratigs as follows: If ewly built If typical of the existig stock Gree Deal Iformatio The Gree Deal will be available from later this year. To fid out more about how the Gree Deal ca make your property cheaper to ru, please call