AINTREE, LIVERPOOL, L9 5AL - PRIME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY - Staunton Whiteman
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WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
AINTREE, LIVERPOOL, L9 5AL
PRIME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY
1
WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
AINTREE
SHOPPING
PARK
AINTREE
RACECOURSE
RETAIL PARK
OR
MS
KIR
KR
OA
D (A5
9)
2
WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
INVESTMENT SUMMARY
Prime retail warehouse investment located in Aintree, Liverpool; the 5th largest city Freehold.
in the UK with a population of some 2.24 million.
Let to Wren Living Limited for a further 7.5 years until 1 February 2025 date, at a
Situated in an extremely prominent position on the A59 Ormskirk Road, opposite passing rent of £365,000 pa (£21.24 psf).
Aintree Racecourse Retail Park (153,500 sq ft) and Aintree Shopping Park (295,054
sq ft). Our client is seeking offers in excess of £5,063,000 (Five Million and Sixty Three
Thousand Pounds) subject to contact and exclusive of VAT for their freehold
The property is a very attractive double-height building of 17,187 sq ft, with a interest in the property. A purchase at this level would show an initial yield of 6.75%
mezzanine of 16,085 sq ft. The car parking ratio is 1:291 sq ft. after allowing for purchaser’s costs of 6.8%.
3
WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
WIGAN
LIVERPOOL M58
CITY CENTRE
M6
M
A59
57
IRELAND AND
ISLE OF MAN
AINTREE
ST. HELENS
M62
M6
LIVERPOOL M6 2
CITY CENTRE
AINTREE BIRKENHEAD WARRINGTON
RACECOURSE
WIDNES
INTERNATIONAL FESTIVAL GA
M RUNCORN
53
LIVERPOOL JOHN
LENNON AIRPORT
AL
CAN
SHIP
ESTER
AINTREE CH
MAN
RACECOURSE
RETAIL PARK 6
M5
CHESTER
LOCATION
Liverpool is the 5th largest metropolitan area in the UK with a Liverpool has excellent communications, being at the heart of
population of some 2.24 million (2011 Census). Located on the the UK’s motorway network. The M6 runs to the east of the city
Mersey Estuary, Liverpool’s growth as a major port was paralleled and leads to London, Birmingham and Bristol to the south, and
by the expansion of the city throughout the industrial revolution. Glasgow/Scotland to the north. The M62 connects the city centre
with Manchester and Leeds to the east.
Liverpool is famed worldwide for its Premier League football
clubs, the Beatles and the Grand National Steeplechase. As a Liverpool John Lennon Airport is one of the UK’s oldest operational
result of its rich heritage, Liverpool is the 6th most visited city in airports and has enjoyed significant recent expansion, with
the UK with some 54 million visitors annually, bringing some £3.8 passenger numbers having increased 10 fold since the 1990’s.
billion in revenue each year. The airport currently handles some 4.8 million passengers per
year, with flights to over 60 international destinations. Liverpool
also benefits from strong rail connections with journeys to
London from just 2 hours 4 minutes.
4
WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
SITUATION
5
12
FF
FW
Way
Old Roan
Cycle
Baptist Church
Way
f
Cycle
De
AIN 11
14
TR
FW EE
12
Tow
1
Pa LA
th NE
Old Roan
Bridge
Def
y
er
El
rg
ElSu
Sub Stas
b Sta
Su
20.7m
24
The subject property is situated in Aintree, in an extremely
15
M
26
O
ST
YN 13
AV
EN
UE
prominent position on the A59 Ormskirk Road, which is the
34
AD
principal arterial route leading north from the city centre to the
a
34
Way
RO
13.7m
FF
Cycle
40
IRK
36
25
MSK
junction of the M57 and M58 motorways.
a
10 1
36
OR
WITH
AD
37
52
LE CK
RO
Aintree has the largest cluster of retail warehousing in Liverpool,
58
41
totalling approximately 547,000 sq ft. Indeed opposite the subject
16.5m
Tank
ElGov
Gas Sub Sta
premises are the 153,500 sq ft Aintree Racecourse Retail Park
70
(Next Home, TK Maxx, Currys/PC World, Homesense, JD Sports,
Factory
FF
Tanks
Chy
Weighbridges
MP.5 The Range, Bensons, Maplin, Laura Ashley) and the 295,054 sq ft
Aintree Shopping Park (B&Q Warehouse, Marks & Spencer, Boots,
84
7
1
dfs, Furniture Village, Halfords, Harveys, Hobbycraft, Mothercare,
ScS, Pets at Home).
n)
tio
ica
mun
com
ele
t (T
TCB
Conveyor
AINTREE
M as
Tks
SHOPPING As a result of its strategic and highly accessible location, the
Hopper
El Sub Sta
97
PARK
16.8m
12
El Sub Sta
Shelter
subject property is the only Wren Kitchens showroom in Liverpool.
AINTREE
RACECOURSE
9
Weighbridge El Sub Sta
RETAIL PARK
8
DESCRIPTION
Post
13
AINTREE
7
Posts
AINTREE
RACE COURSE
Aintree
SHOPPING
Shopping
Tra ck
6a
Bdy
PARKPark
Ward
Cycle
AD
nst Bdy
st &
K RO
Con
Works
Co Co
KIR
6b
Boro
ORMS
Shelter
17.7m
El
The property comprises a retail warehouse of some 17,187 sq
Sub Sta
73
5b
Conveyer 10
a
Post ft, with a mezzanine floor of 16,085 sq ft, that was subject to a
Def
comprehensive internal and external refurbishment in 2015 prior
5a
10
Aintree Building
to Wren’s occupation. As may be seen from the accompanying
Hopper El Sub Sta 8
to
11 9
4
photographs, the double-height frontage/glazing has resulted in
Conveyor El
AY
El Sub Sta
18.0m Sub Sta
W
EE
TR
SP
AIN
2
a flagship building.
1f
to
Factory
1k
El Sub Sta
SL
69
The building is rectangular with its length running parallel to
1c
to
1e
El Sub Sta
Aintree Racecourse
Retail and Business
the A59, giving excellent prominence and ensuring that the
Park
El Sub Sta
67
showroom is highly visible to traffic travelling in either direction.
1b
TO
PH
AM
DR
IVE
1l
LB
1a
1m
7
The building is well laid out on the site with an attractively
1n
18.9m
2b
6
ck
Tra
1p
El Sub Sta
landscaped car park to the front and sides of the store.
Cycle
E
IV
DR
5
BE
M
CH
2a
HA
ER
S
P
DR
TO
IV
Weighbridge E
7a
VA
There are a total of 59 car parking spaces, giving a car parking
4
LE
NT
IN
7b ES
W
AY
9a
AINTREE
ratio of 1:291 sq ft.
4a
2c
9c
RACECOURSE
7j
7d
RETAIL PARK
7h
3a
7g
HEYSHA
M ROA
D
1d
7f
3b
19.8m
El Sub Sta
7e
TENURE
1a
49
TO
PH
AM
DR
IVE
1b
2
5a
1c
Freehold.
Valentines Building
E
IV
DR
45
1
to
AM
4
PH
5
TO
El Sub Sta 6
21.0m
0m 50m 100m 150m
El Sub Sta
7
Ordnance Survey © Crown Copyright 2017. All rights reserved.
Licence number 100022432. Plotted Scale - 1:2507
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WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
PLANNING
The property has a benefit of a bulky goods planning permission.
TENANCY
The property is let in its entirety to Wren Living Ltd, for a term of
10 years from 2 February 2015, on full repairing and insuring terms.
There are thus 7.5 years remaining unexpired.
The passing rent of £365,000 pa equates to £21.24 psf on the
ground floor area and is subject to 5 yearly upwards only rent
reviews to open market value (capped at 2.5% pac), with the next
review being effective 2 February 2020.
TENANT’S COVENANT
Wren Living Ltd is a privately owned British designer, manufacturer
and retailer of kitchens. The management team behind Wren have
unrivalled experience in kitchen retailing, having built up and sold the
Hygena Kitchens business in the UK, and subsequently in America.
Wren was founded in 2009 and the company now has 63 showrooms
across the UK, together with three manufacturing plants.
In the year to 31 December 2016, Wren increased turnover by 31.3%,
gross profit by 30.5% and EBITDA by 51.3%.
Looking forward, as Wren manufacture all of their own products
from their three UK factories, the company is confident that it will
remain very competitive as it will be less impacted by exchange rate
fluctuations than many of its competitors.
We set out below a summary of the last three years accounts for Wren
Living Limited.
Latest Sales Profit/Loss
Tenant Net Worth
Accounts Turnover Before Taxes
31 Dec 16 338,093,520 11,007,372 6,153,002
Wren Living
31 Dec 15 257,512,151 7,432,059 (2,169,316)
Limited
31 Dec 14 197,102,740 (2,785,489) (13,137,148)
A copy of Wren’s trading statement dated 9th June 2017 is available
upon request.
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WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
RETAIL WAREHOUSING IN AINTREE
Due to its strategic and highly accessible location, Aintree has the Adjoining Aintree Racecourse Retail Park to the north is The Crown
largest cluster of retail warehousing in Liverpool, totalling some Estate’s 295,054 sq ft Aintree Shopping Park which is let to B&Q
547,000 sq ft. Warehouse, Next, Marks & Spencer, Boots, DFS, Furniture Village,
Halfords, Hobbycraft, Mothercare, ScS, Pets at Home, Topps Tiles,
Directly opposite the subject premises is the Orbit Developments’ Frankie & Benny’s and McDonald’s. This park is expected to improve
Aintree Racecourse Retail Park which is let to Next, TK Maxx, Currys/ dramatically following Next’s acquisition of a 58,000 sq ft unit in
PC World, Homesense, JD Sports, The Range, Bensons, Maplin, Laura February 2017. The top rents achieved on Aintree Shopping Park are
Ashley, American Golf, Costa Coffee, Carphone Warehouse, Pizza Hut £30 psf.
and Subway.
To the north of the subject premises are a 26,132 sq ft Wickes and
The park has a mixed bulky goods and open A1 planning permission a newly developed 20,000 sq ft Sports Direct store with a first floor
and achieved a rent of £30 psf when Carpetright aquired the 16,500 gym.
sq ft former Next unit, with a 12 month incentive package.
EPC
A copy of the Energy Performance Certificate is available upon request.
7
WREN KITCHENS, A I N T R E E , L I V E R P O O L , L 9 5 A L
PURCHASE PRICE
Our client is seeking offers in excess of £5,063,000 (Five Million and Sixty Three
Thousand Pounds) subject to contact and exclusive of VAT for their freehold interest in
the property. A purchase at this level would show an initial yield of 6.75% after allowing for
purchaser’s costs of 6.8%.
Nick Staunton Hamish Whiteman
020 7287 2228 020 7287 2228
nick@stauntonwhiteman.co.uk hamish@stauntonwhiteman.co.uk
Staunton Whiteman LLP
9-10 Savile Row
London W1S 3PF
020 7287 2228
MISREPRESENTATION ACT 1967 AND DECLARATION
Messrs Staunton Whiteman LLP for themselves and for the vendors of this property whose agents they are, give notice that:
i) the particulars are set out as a general outline only for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract:
ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of
fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them:
iii) no person in the employment of Staunton Whiteman LLP has any authority to make or give any representation or warranty in relation to this property.
Brochure by: Adrian Gates Design & Photography 07710 316 991
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