lot 21 -accrington · unit 3 waklin limited ground 117.35 sq m 1,263 sq ft 10 years from 07.08.2012...

LOT 21 - AccringtonCommercial Auction - 16th June 2020

Freehold Town Centre Parade of ShopsUnits 1A-8A, & Wilko Store Broadway and Market Way, Accrington, Lancashire, BB5 1EJ

LOT 21 - AccringtonFreehold Town Centre Parade of ShopsUnits 1A-8A, & Wilko Store Broadway and Market Way, Accrington, Lancashire, BB5 1EJ

GUIDE PRICE *

£2.2M+Gross Initial Yield 16.3%

Commercial - 16th June 2020

Online Auction - Bidding will open at 11am for all lots

Key Features

• Tenants include Wilko, Greggs, Sports Direct and Game

• Comprising a retail parade of 12 shop units providing a total of 5,460 sq m (58,771 sq ft)

• Includes 4 vacant shop units providing 1,121.8 sq m (12,075 sq ft)

• Well located opposite the Accrington Arndale Shopping Centre

• VAT is applicable

• Six Week Completion Available Total Current Rent Reserved

£358,500 p.a.Plus Three Vacant Shops

By Order ofa Major UK Fund

Tenure

Freehold

Location

Accrington is a mid Lancashire Market town located approximately 20 miles North ofManchester, 14 miles East of Preston and 6 miles West of BurnleyJunctions 7 and 8 of the M65 are just 2 miles to the north of the town, whilst the A56 issome 2 miles to the eastThe property is situated on the south side of Broadway, between its junctions withWhalley Road and Blackburn RoadAccrington Arndale Shopping Centre is located opposite the property where occupiersinclude Iceland, Card Factory, Holland & Barrett, Bodycare and Boots amongst others

Additional Information

• The property comprises a retail parade of12 shop units providing a total of 5,460 sq m(58,771 sq ft)

• 4 of the shop units are presently vacant and comprise 1,121.8 sq m (12,075 sq ft)

Planning

• The property may lend itself to a variety of alternative uses and redevelopment, subjectto obtaining possession and all the necessary consents. All enquiries please contact theLocal Planning Authority

VAT - VAT is applicable to this lot.

Lot 21, Commercial Auction - 16th June 2020 Date Printed: 04/06/2020 | of 13

Allsop

Philip Parsons.Tel: 07887 898305Email: [email protected]

Sellers Solicitor

Dan Sandbrook.CMS Cameron McKenna Nabarro OlswangLLPTel: +44 114 2794 066Email: [email protected]


ScheduleAddress Present Lessee Accommodation Lease Details Current Rent

(PA)Next Review /Reversion

Unit 1a & 1b Vacant Unit 1A Ground 62.6 sq m 674 sq ft

Unit 1B Ground 62.5 sq m 673 sq ft

Unit 1B First 70.35 sq m 757 sq ft

Subtotal 195.45 sq m 2,104 sq ft

Unit 2 Greggs PLC(www.greggs.co.uk) (1)

Ground 114.45 sq m 1,232 sq ft 10 years from 25.07.2016Rent review and tenant break option in the 5thyearFR& I

£37,500 p.a. Rent Review 2021

First 111 sq m 1,195 sq ft


Unit 3 Waklin Limited Ground 117.35 sq m 1,263 sq ft 10 years from 07.08.2012 (2)

Rent Review in the 5th yearFR& I

£35,000 p.a. Reversion 2022

First 118.25 sq m 1,273 sq ft


Unit 4 Sportsdirect.com Retail Limited (3) Ground 93.65 sq m 1,008 sq ft 10 years from 30.01.2016Rent review and tenant break option in the 5thyearFR& I, subject to a schedule of condition


First 1,388.5 sq m 14,946 sq ft

Subtotal 1,482.15 sq m 15,954 sq ft

Unit 4a Greenhalgh's Craft Bakery Limited(4)

(www.greenhalghs.com)

Ground 69.5 sq m 748 sq ft 10 years from 24.06.2017Rent review and tenant break option in the 5thyearFR& I


Unit 5 Game Retail Limited(www.game.co.uk)

Ground 132.75 sq m 1,429 sq ft 1 year from 19.03.2020 (2)

There is a mutual rolling break clauseFR& I

£0 p.a. Reversion 2021

Unit 6 Sayers the Bakers Limited Ground 133.6 sq m 1,438 sq ft 10 years from 03.11.2011FR& I

£32,500 p.a. Reversion 2021

Units 7 & 8 Vacant Ground 325.25 sq m 3,501 sq ft

First 325 sq m 3,498 sq ft



Schedule (Continued)Address Present Lessee Accommodation Lease Details Current Rent

(PA)Next Review /Reversion

Unit 8a Vacant Ground 135.55 sq m 1,459 sq ft


Subtotal276.1 sq m 2,972 sq ft

Unit LSU Wilko Retail Limited (5)

(www.wilko.com)Ground 1,382 sq m 14,876 sq ft 20 years from 24.06.2003

Rent reviews every 5th yearFR& I

£169,000 p.a. Reversion 2023


Subtotal2,059.15 sq m 22,165 sq ft

Peel St Kiosks & PublicToilets

The Council of the Borough ofHyndburn

A term of years from 03.10.2003 to29.07.2127

Peppercorn Reversion 2127

Total 5,460 sq m 58,771 sq ft Total £358,500 p.a.

(1) For the year ended 31st December 2018, Greggs plc reported a turnover of £1,029,347,000, a pre-tax profit of £82,618,000, shareholder's funds of £329,218,000 and a net worth of £312,332,000(Source: Experian 21.05.2020)(2) This lease is contracted outside of the Landlord & TenantAct 1954.(3) For the year ended 28th April 2019, Sportsdirect.com Retail Limited reported a turnover of £2,187,760,000, a pre-tax profit of £345,610,000, shareholder's funds of £1,376,648,000, and a net worth of£1,374,728,000 (Source: Experian 21.05.2020)(4) For the year ended 31st January 2019, Greenhalgh's Craft Bakery Limited reported a turnover of £26,198,826, a pre-tax loss of £1,668,269, shareholder's funds of £14,473,573, and a net worth of£14,473,572 (Source: Experian 21.05.2020)(5) For the year ended 1st February 2020, Wilko Retail Limited reported a turnover of £1,428,491.000, a pre-tax profit of £6,305,000, shareholder's funds of £99,586,000, and a net worth of £82,338,000(Source: Experian 21.05.2020)N.B. Due to the current restrictions in movement throughout the UK the property has not been inspected by Allsop. Reference to local traders and The Street Traders Plan reflect a dated situation assome occupiers are not presently trading. Floor areas and accommodation details have been sourced from www.voa.gov.uk


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GOAD Map


Disclaimer- - -Important notice - Pre-registration approval to bid, guide prices, reserves and additional chargesPlease note that charges and fees additional to the sale price might be payable by the successful buyer in respect of the Lot. Please read the information below and check the SpecialConditions of Sale, the Particulars of Sale and any addendum for the Lot before deciding whether or not to bid.Pre-registration approval to bidAllsop now requires all bidders who wish to bid at our Auctions to Register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed aspart of this process before prior approval to bid will be given. Please us the links on our website to pre-register.Guide Prices1. Where a guide price (or range of prices) is given, that guide is the minimum price at which (or range of prices within which) the seller might be prepared to sell on the date on which theguide price (or range of prices) is published. The guide price will normally be at or above any reserve price.2. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you are advised tocheck the website regularly for updates.3. All guide prices are Quoted "subject to contract".4. Please note the guide price for the Lot does not include:- any Buyers' Fee charged by the auctioneers;- VATon the sale price;- SDLT or any other Government taxes;- additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.5. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published onlineimmediately it becomes available and you should check the auction website regularly for updates.Reserve Prices6. The reserve price is the minimum price at which the Lot can be sold.7. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. Thisis because the seller may fix the final reserve price ju st before the Lot is offered for sale.Buyers' fees, Seller's fees and additional charges8. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows:Residential Auctions- Lots sold for £10,000 or more: Buyers' Fee of £1,000 inclusive of VAT- Lots sold for less than £10,000: Buyers' Fee of £200 inclusive of VATCommercial Auctions- All Lots: Buyers Fee £1,000 inclusive of VAT9. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check forany additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.10. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VATapplies.Other Matters11. Please note that lots may be sold or withdrawn at any time prior to auction.12. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer tothe addendum, the Particulars and/or the conditions of sale.13. Street trader plans are reproduced with the consent of Experian Goad Limited. Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission ofthe Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from theOrdnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS10006002014. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not necessarily drawn to scale and any arrows on plans orphotographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries.The Auctioneers cannot guarantee that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans orphotographs.


lot 21 -accrington · unit 3 waklin limited ground 117.35 sq m 1,263 sq ft 10 years from 07.08.2012...

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