ocklesto bailey retail leisure ivestmet UNIT D, 84/88 LUMLEY ROAD, SKEGNESS PE5 3ND PRIME FREEHOLD RETAIL INVESTMENT LET TO SIZE UP CLOTHING STORES LIMITED tradig as Yours
Ivestmet Summary Prime tradig locatio. A 0 year full repairig ad isurig lease from 4 Jue 006 to Size Up Clothig Stores Limited tradig as Yours (Compay No. 0886196). The lease cotais a teat oly optio to break i the 15th year of the term (4 Jue 01). The curret retal is 70,000 p.a.x. which is subject to a ret review o 4 Jue 01. The uit is well cofigured with the beefit of rear access for servicig/fire escape purposes via the High Street. The property has bee registered for VAT purposes ad it is assumed that the trasactio will be dealt with as a TOGC. The property is freehold. We are istructed to seek offers for our cliets freehold iterest i excess of 650,000. A purchase at this level would reflect a et iitial yield of 10.% after allowig for purchasers costs of 5.8%. Locatio Skegess is a reowed coastal resort ad attractive market tow situated approximately miles ortheast of Bosto, 40 miles south of Grimsby ad 43 miles east of Licol. The tow lies withi East Lidsey District of Licolshire with a residet populatio of circa 19,000 ad with a local ecoomy based largely o tourism ad agriculture. The Local Authority estimate aual tourism sped i the district is approximately 376m per aum ad it was reported that i 011, tourist trade i UK resorts icreased by 1% with Skegess beig the 7th fastest growig i the UK. East Lidsey District has approximately 4.1 millio visitors, 11 millio visitors days ad 8.7 millio bed ights. Skegess accouts for 80% of these figures, which highlights the substatial tourist ecoomy for the tow. The tow beefits from good road liks to the orth via the A16 to Grimsby, west via the A158 to Licol ad south via the A16 to Bosto ad Peterborough. Situatio The subject property occupies a prime tradig locatio beig adjacet to Select ad Cooplads Bakers. Nearby multiple retailers iclude Natiowide, Clitos, Greggs, Thomso, Size Up, M&Co, Spescavers, Boots, New Look, Poudlad, Beales Departmet Store, Clarks ad Thomas Cook. I additio, the tow beefits from the market which operates every day i the summer moths. Retailig i Skegess Lumley Road which is ope to vehicular traffic, boasts umerous atioal retailers ad is ably assisted by the eclosed Hildreds Shoppig Cetre with retailers represeted icludig Evas, Burto, Burger Kig, Wilco, Shoe Zoe, Superdrug, WH Smith, Sports Direct, JD Sports, Vodafoe, Card Factory, Boots Opticias, Warre James ad H Samuel. Oe of the tow s mai pay ad display car parks is located immediately adjacet to the Hildreds Shoppig Cetre ad provides 350 spaces. This car park is the earest public car park to the subject property. Descriptio The property was costructed i 000 as part of a terrace of four well cofigured retail shops arraged o groud ad first floors. The subject property offers groud floor sales accommodatio with acillary at first floor level. The property is of brick built costructio uder a pitched, slate roof with a sigle storey outrigger at the rear. The uit has bee fitted out i the stadard Yours livery ad the uit has recetly bee refreshed with ew lightig ad paitig throughout the sales area. The uit beefits from a service corridor/fire corridor leadig o to the High Street.
Accommodatio The premises are arraged o groud ad first floors with the followig approximate areas ad dimesios:- Descriptio ft m Gross Frotage 31 4 9.54m Widow Frotage 7 3 8.30m Iteral Width 30 0 9.14m Shop Depth (maximum) 69 0 1.03m Groud Floor Sales,10 sq ft 196.94 sq m First Floor Acillary 1,170 sq ft 108.69 sq m ITZA 1,086.4 uits Teure The property is held freehold, subject to the teacy listed below. Teacy The property is let to Size Up Clothig Stores Limited tradig as Yours (Compay No.0886196) by way of a 0 year full repairig ad isurig lease from 4 Jue 006, subject to 5 yearly upward oly ret reviews at a curret retal of 70,000 p.a.x. I additio, there is a teat oly optio to determie i 15th year of the term subject to the teat servig ot less tha 6 moths prior writte otice. Coveat Iformatio Size Up Clothig Stores Limited tradig as Yours ow trade from over 80 stores withi the UK ad a further 9 stores i Bahrai ad the Uited Arab Emirates. We set out below the most recet fiacial iformatio available for the teat:- 01/0/015 0/0/014 03/0/013 Turover 48,707,051 3,098,001 6,60,06 Pre-Tax Profit,64,86,67,773 1,433,98 Net Worth 5,30,851 3,515,48 1,395,411 Size Up Clothig Stores Limited (Compay No. 0886196) has a NCheck (part of Du & Bradstreet) ratig of 86 out of 100 represetig a very low risk. Source:- NCheck (part of Du & Bradstreet)
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EPC A up to date EPC Certificate is attached to these particulars. VAT The property has bee elected for VAT ad it is assumed that the trasactio will be treated as a TOGC Proposal We are istructed to seek offers i excess of 650,000 subject to cotract, ad exclusive of VAT, reflectig a et iitial yield of 10.% after deductig the usual purchasers costs of 5.8 %. Further Iformatio For further iformatio, or to arrage a ispectio of the property, please cotact Hugh Ocklesto, Ocklesto Bailey 0144 403445 Email: hugh@ocklestobailey.co.uk Subject to Cotract Date of particulars : March 016 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.
4 7 3 6 5 4 364 6 5 78 104 130 156 Eergy Performace Certificate No-Domestic Buildig This certificate has bee produced by E P C g e, a software module developed by B R E for C L G uder cotract with F M. The author of the program is J o s e O r t i z (o r t i z j @ b r e. c o. u k ). Some security features proves the autheticity of this documet. Uit D 84-88 Lumley Road SKEGNESS PE5 3ND Certificate Referece Number: 070-3999-0396-9970-5084 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 www.commuities.gov.uk/epbd. Eergy S K - 5 5 0 0 6 1-1 1 6 3 Performace Asset Ratig More eergy efficiet A+ 8 0-0 7 0-3 9 9 9-0 3 9 6-9 9 7 0-5 0 8 4 - S K 5 5 0 0 6 1 1 1 6 3 - D C L G x E P C g e 0 0 8 A 0-5 B 6-50 C 51-75 D 76-100 E 101-15 F 16-150 G Over 150 Net zero CO emissios 80 This is how eergy efficiet the buildig is. Less eergy efficiet Techical iformatio Bechmarks Mai heatig fuel: Grid Supplied Electricity Buildig eviromet: Air Coditioig Total useful floor area (m ): Buildig complexity (NOS level): 3 Buildig emissio rate (kgco /m ): 319 88.67 Buildigs similar to this oe could have ratigs as follows: 3 94 If ewly built If typical of the existig stock 18 08 34 338 31 86 60 1