BOOKER CASH & CARRY, TWIBELL STREET, BARNSLEY S71 1DN - PRIVATE CLIENT SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS - Allsop
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PRIVATE CLIENT
BOOKER CASH & CARRY,
TWIBELL STREET, BARNSLEY S71 1DN
SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS
PRIVATE CLIENT
INVESTMENT CONSIDERATIONS
■■ Cash & Carry warehouse investment located in close proximity to ■■ The property comprises a single storey industrial warehouse totalling
the M1 in an established industrial estate in Barnsley’s Town Centre a GIA of approximately 86,947 sqft (8,078 sqm).
■■ The property is let on a full repairing and insuring lease to ■■ Freehold
Giant Booker Limited (D&B 5A1) with 11.5 years unexpired ■■ The vendor will consider topping the rent up to the minimal 2020
(6.5 years to break) uplift to result in a more attractive yield for the purchaser
■■ Rent reviews subject to a minimum 2.5% pa compound rental growth ■■ Offers sought in excess of £3,600,000 (Three Million Six Hundred
with the next rent review in February 2020. Thousand Pounds) subject to contract and exclusive of VAT. This
■■ Tesco completed a £3.7 billion takeover of Booker Group PLC in 2018. reflects an attractive Net Initial Yield of 7.25% with a minimum
■■ Total Current Income of £277,955 per annum (£3.20 psf) with a Reversionary Yield of 8.20% in 2020, after allowing for purchaser’s
minimum rental uplift to £314,481 in 2020 costs of 6.51%.
PRIVATE CLIENT
BOOKER CASH & CARRY, TWIBELL STREET, BARNSLEY S71 1DN SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS
METRODOME
LEISURE
COMPLEX
A61
BARNSLEY BUS
& TRAIN STATION
BARNSLEY DIGITAL
MEDIA CENTRE
PRIVATE CLIENT
BOOKER CASH & CARRY, TWIBELL STREET, BARNSLEY S71 1DN EDINBURGH SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS
■
GLASGOW
NEWCASTLE UPON TYNE
■
■ ■
CARLISLE SUNDERLAND
MIDDLESBROUGH
YORK
LOCATION LEEDS
Located in South Yorkshire within the attractive Dearne Valley, Barnsley is HU
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12 miles (19.3 km) north of Sheffield, 20 miles (32.2 km) south of Leeds and
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LD
BU HALIFAX
17 miles (27.4km) west of Doncaster.
1O
RTO
N ROAD
A6
A6
35
HU
With a population of c. 81,250 and an above average Primary Catchment
DD
ER
BARNSLEY
SF
Area population of 270,000 (Promis), the town is a major commercial and SCUNTHORPE
IE
BOLTON
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DONCASTER
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administrative centre in the region. Barnsley is strategically located with
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close proximity of a number of national road networks, with the M1, M62, LL
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MI L LIVERPOOL MANCHESTER
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A1 (M) and M18 motorways providing Barnsley with access to Manchester,
A61
Leeds, Sheffield and London as well as a number of international airports SHEFFIELD
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GAINSBOROUGH
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such as Manchester Airport and Doncaster Robin Hood Airport.
LD MILL L A N E
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The town also benefits from a number of additional transport links including BUXTON CHESTERFIELD
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LINCOLN
a local rail service that offers links to Wakefield, Leeds, Huddersfield and
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Sheffield which provide connections to London Kings Cross, Manchester
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Barnsley
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Piccadilly and Manchester Victoria. There are also excellent bus links
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NEWARK-ON-TRENT
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TREE
to neighbouring towns of Leeds, Bradford, Doncaster, Sheffield and SHA
MBL ES S
NEWCASTLE-UNDER-LYME
Manchester, all of which are accessible within a 60 minute drive. Barnsley Barnsley Football
A6
Town Centre
Club
STOKE-ON-TRENT NOTTINGHAM
28
A6 28
DERBY
A6 1
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PRIVATE CLIENT
BOOKER CASH & CARRY, TWIBELL STREET, BARNSLEY S71 1DN SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS
SITUATION DESCRIPTION
The property is situated on Twibell Street, approximately 3 miles The property comprises a self-contained Cash and Carry industrial
east of the M1 accessed via the A628 and less than a half a mile warehouse arranged over ground and first floors measuring
from Barnsley town centre and railway station. The property’s approximately 86,947 sq ft. The property is of steel portal frame
central positioning and good transport links means the warehouse construction with brick elevations surmounted by profile steel
is very well located to serve not just the needs of local businesses cladding beneath a corrugated roof.
but also businesses in the surrounding area. The property has been fitted out to suit a Cash and Carry operator
The property also benefits from being in an established retail park with a large open plan sales space, staff accommodation and
location, in close proximity to other national occupiers, including storage/loading areas to ground floor with further staff and office
Screwfix, Wickes, Hayes Fencing, B & M Bargains Store, Halfords accommodation alongside ancillary storage space to first floor.
and Argos. The external office extension to the south of the property is not
currently used by the tenant.
The unit benefits from a large customer car park to the east along
with the property’s service yard to the north, which are both
accessed via a main vehicular entrance from Twibell Street leading
directly to the car park. There are three electric up-and-over roller
shutter doors which all provide access to the service area.
PRIVATE CLIENT
Booker, Barnsley (1) Booker, Barnsley 2
BOOKER CASH & CARRY, TWIBELL STREET, BARNSLEY S71 1DN SINGLE LET WHOLESALE INVESTMENT WITH FIXED UPLIFTS
SITE AREA e
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The site provides an area of approximately 4.28 acres (1.73 rD
ive
Hectares) which represents a site cover of approximately 41%. R
TENURE
Freehold.
TENANCY Warehouse
The property benefits from a separate piece of land just to the east
of
0m the main
10m demise
20m which
30m will be included in the sale.
The property is let on a full repairing and insuring lease to Giant Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:727
Booker Limited, t/a Booker Wholesale, for a term of 25 years from
28th February 2005, expiring on 28th February 2030, with a further
guarantee to Giant Bidco Limited. The parent company of Booker
Group plc is Tesco PLC.
The current rent passing is £277,955 per annum (£3.20 psf) and the
lease is subject to a tenant’s break clause on the 20th anniversary
of the term subject to six months’ prior written notice. The lease
benefits from five yearly upward only rent reviews which are
reviewed to the higher of either Open Market Value or 2.5%
per annum compounded uplifts. Assuming the tenant does not
exercise their break option in 2025 this ensures a minimum rental 39
uplift profile of:
1
© Crown Copyright, ES 100004106. For identification purposes only.
28th February 2020 0m 10m 20m 2 30m
Higher of £314,481 per annum or OMV 3
4
EA
28th February 2025
M
Ordnance Survey © Crown Copyright 2018. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
IN
G
Higher of £355,806 per annum or OMV
VI
EW
The vendor will consider topping the rent up to the minimal
2020 uplift if required to result in a more attractive yield for
the purchaser.
COVENANT INFORMATION
Founded in 1835, Booker Group is the UK’s leading food wholesale In the last few years The Brooker Group has notably enhanced their
with over 13,000 employees serving a total of 1.2 million customers delivery division by highlighting this as an area of growth and gaining
across the UK and India. In January 2017, it was announced that several significant contracts left vacant by the collapse of the incumbent
the supermarket retailer Tesco had agreed to purchase the company wholesaler, Palmer & Harvey, in November 2017.
for £3.7 billion – resulting in Britain’s biggest retailer combining with The company also founded, and was previously a sponsor of, the
the country’s largest wholesaler. The sale is expected to result in Booker Prize (originally the Booker–McConnell Prize) for literary fiction,
a further growth of market share by the Booker brand and to which was established in 1968. Giant Booker Limited has reported the
add new capabilities to Tesco’s current offering. following financial information for the last three years:
The Booker Group comprises Booker Wholesale, Makro, Booker Direct,
Classic Drinks, Ritter Courivaud, Chef Direct, Premier, Family Shopper, 27 Mar 2015 25 Mar 2016 24 Mar 2017
Budgens, Londis and Booker India. In the last few years The Booker Turnover £9,200,000 £10,300,000 £10,500,000
Group has increased its delivery capabilities.
Pre-Tax Profit £5,600,000 £6,700,000 £5,700,000
Total Net Worth £233,000,000 £227,400,000 £228,300,000
PRIVATE CLIENT
PROPOSAL
VAT Offers sought in excess of £3,600,000 (Three Million Six Hundred Thousand Pounds) subject to
The property is registered for VAT and we would expect the property contract and exclusive of VAT. This reflects an attractive Net Initial Yield of 7.25% with a minimum
to be treated as a Transfer of a Going Concern (TOGC).
Reversionary Yield of 8.20% in 2020, after allowing for purchaser’s costs of 6.51%.
EPC
Energy Performance Certificate for the property is available upon For further information or to make arrangements for viewing please contact:
request.
PRIVATE CLIENT TEAM
DATAROOM Liam Stray Alex Butler
For access to the Allsop dataroom please use the following link: 020 7543 6769 020 7543 6722
https://datarooms.allsop.co.uk/register/BookerBarnsley liam.stray@allsop.co.uk alex.butler@allsop.co.uk www.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 10.18
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