APPLEGREEN MERTHYR TYDFIL - LOWER HIGH STREET, CF47 8EB FORECOURT AND CONVENIENCE STORE INVESTMENT WITH A GUARANTEE FROM CO-OP GROUP LTD - Allsop
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APPLEGREEN MERTHYR TYDFIL LOWER HIGH STREET, CF47 8EB FORECOURT AND CONVENIENCE STORE INVESTMENT WITH A GUARANTEE FROM CO-OP GROUP LTD
APPLEGREEN MERTHYR TYDFIL FORECOURT AND CONVENIENCE STORE INVESTMENT
LOWER HIGH STREET, CF47 8EB WITH A GUARANTEE FROM CO-OP GROUP LTD
INVESTMENT CONSIDERATIONS
■■ Highly visible petrol filling station located on the main arterial road (A4054) ■■ Annual retail spend in the store of £900,000
■■ The only PFS in the town centre with 8 pumps and a convenience store ■■ Site area of 0.28 acres
■■ Let to Rochpion Properties (4) LLP, (t/a Applegreen) guaranteed by the excellent ■■ Freehold
covenant of Co-Operative Group Limited (5A1) with a further 8 years to expiry ■■ Offers sought in excess of £1,825,000 (One Million Eight Hundred and
■■ No Breaks Twenty Five Thousand Pounds) subject to the contract and exclusive of VAT.
■■ Current rent passing £116,679 pa subject to fixed annual increases of 2% pa A purchase at this level reflects a net initial yield of 6.02% assuming
purchasers cost of 6.22%.
APPLEGREEN MERTHYR TYDFIL FORECOURT AND CONVENIENCE STORE INVESTMENT
LOWER HIGH STREET, CF47 8EB WITH A GUARANTEE FROM CO-OP GROUP LTD
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LOCATION TENURE
Merthyr Tydfil is situated in South Wales in the county of Freehold.
Merthyr Tydfil Borough Council. It is located 24 miles (38 km)
north of Cardiff and 31 miles (49 km) north-east of Swansea. DESCRIPTION
The town is situated within close proximity to the junction of
The property comprises a highly visible Forecourt and
the A470, which links Cardiff in the south to Colwyn Bay in
Convenience Store located directly to the South of Merthyr
the north and the A465 which links Neath in the southwest to
Tydfil, currently unopposed in providing Town Centre fuel
Hereford in the northeast and the Midlands.
provision.
Merthyr Tydfil Railway Station provides regular rail services to
The site is accessed from Lower High Street (A4054) providing
Cardiff Central Station with an average journey time of 1 hour.
8 pumps under a modern canopy.
Cardiff International Airport is situated 33 miles (53 km) south
of the town. The retail accommodation totals 1,145 sq ft and the site
comprises a total area of 0.28 acres.
SITUATION
TENANCY
The property is situated a 5 minute walk from the main Town
Centre retailing provision, opposite a large Aldi supermarket The property is let on a full repairing and insuring basis for a
and adjacent to a Royal Mail depot. term of 20 years from 21st June 2007 expiring on 20th June
2027 (8 years to run) at a current rent of £116,679 pa.
The surrounding commercial accommodation provides an
element of walk-in retail trade. The lease is guaranteed by Co-Operative Group Limited and
benefits from fixed annual increases of 2% pa. -
the next uplift is due in June 2020.
© Crown Copyright, ES 100004106. For identification purposes only.
COVENANT INFORMATION
Rochpion Properties (4) LLP
Applegreen is one of the major petrol forecourt retailers in the Republic of Ireland
with a significant growing presence in the UK. The group currently operate out
of 158 sites in the UK alone and 472 worldwide. For the year end 2018, group
revenue increased by 41% to D2.0bn, profits increased by 55% to D282.3m with
Adjusted EBITDA increasing by 46% to D58.1m.
Furthermore, in Q4 of 2018, Applegreen acquired a majority stake in ‘Welcome
Break’, the second largest motorway service operator in the UK.
A summary of Rochpion Properties (4) LLP accounts are below:
6th January 2018 31st December 2016 2nd January 2016
Turnover £482,000 £364,000 £703,000
Pre Tax Profits £973,000 £6,866,000 £1,905,000
Total Net Worth £84,686,000 £83,713,000 £76,848,000
Co-Operative Group Food Limited
The Co-Operative Group is the fifth largest food retailer in the United Kingdom,
operating from over 2,500 local convenience and medium sized stores. The
group is also the largest UK funeral services provider in the UK, a major general
insurer and a growing legal services business. The Group employs over 70,000
people across the various business lines with over 4.65 million active members,
accounting for 33.5% of total food turnover
The group’s overall revenue in 2018 was £10.2bn, significantly increasing from
2017 (£8.9bn). The Group is undergoing rapid expansion in the wholesale market
following the recent acquisition of Nisa and five-year commercial deal to supply
Costcutter Supermarkets Group. When combined with independent co-operative
societies, The Co-Operative Group now supply over 7,700 stores nationwide.
A summary of Co-operative Group Limited’s accounts are below:
6th January 2018 31st December 2016 2nd January 2016
Turnover £9,470,000,000 £9,472,000,000 £9,301,000,000
Pre Tax Profits £72,000,000 -£132,000,000 £23,000,000
Total Net Worth £2,191,000,000 £2,298,000,000 £2,006,000,000
EPC
EPC is available in
VAT
The property is elected for VAT and it is
PROPOSAL
the dataroom. anticipated the transaction will be treated Offers sought in excess of £1,825,000 (One Million Eight Hundred and
as a transfer of a going concern (TOGC).
Twenty Five Thousand Pounds) subject to the contract and exclusive of VAT.
DATA ROOM
For access to the Allsop Marketing Data Room, please use the following link:
A purchase at this level reflects a net initial yield of 6.02% assuming
https://datarooms.allsop.co.uk/register/merthyr purchasers cost of 6.22%.
For further information or to make arrangements for viewing please contact:
Ronnie Morgan Alex Butler
020 7543 6808 020 7543 6722
ronnie.morgan@allsop.co.uk alex.butler@allsop.co.uk allsop.co.uk
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to
be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties,
undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as
to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary
searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 06.19
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