REGENT STREET 31-43 WREXHAM, LL11 1RY - Allsop
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31-43
R EG ENT S T R E E T
WREXHAM, LL11 1RY
HIGH STREET RETAIL PARADE & CAR PARKING INVESTMENT WITH AN AWULT OF 24.6 YEARS TO EXPIRY AND 22.8 YEARS TO BREAK ON THE RETAIL ACCOMMODATION
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
INVESTMENT CONSIDERATIONS
High street retail parade and car park situated in AWULT of 24.6 years to expiry and 22.8 years The car park is the main car park for the town
Wrexham town centre to break on the retail accommodation centre from the west and therefore the retail parade
Wrexham Central station is situated approximately 100m Approximately 53.6 years remaining benefits from good footfall
to the south of the property to Poundstretcher Limited Offers sought in excess of £2,450,000 (Two Million,
The parade comprises five retail units with upper floors with Part Freehold / Part Long Leasehold Four Hundred and Fifty Thousand Pounds) subject
an adjoining 311 space car park to the rear of the property to contract and exclusive of VAT. A purchase at this
Contracted income of approximately
level reflects a net initial yield of 10% assuming
Current passing rent of £261,046 p.a. assuming a rent £4.7 million
purchaser’s costs of 6.37%.
on the car park of £70,166 p.a.
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
LOCATION
Located approximately 5 miles west of the English border
Wrexham is the largest town and administrative centre of North
Wales. The town is situated approximately 13 miles (21km)
south west of Chester, 32 miles (52 km) south of Liverpool and
54 miles (85 km) south west of Manchester. The town benefits
from significant retail and commercial offerings and is home to
Wrexham’s Glyndŵr University which is situated on the edge of
the Town Centre.
Wrexham benefits from very good transport links and excellent M66
road communications with both the A483 and A534 in close Formby
A59 Wigan M61 Oldham
A565
proximity linking the town to Chester to the north and Nantwich M58 M62 M60
and Crewe to the East. The M6 and M56 are within a short drive MANCHESTER A616
A580 A628
and offer direct access to Liverpool and Manchester and the M57 A580
St.Helens M67
national motorway network. Bootle
M60
LIVERPOOL M62
Wrexham has two railway stations which offer direct services Stockport
Birkenhead
to a number of towns and cities across Wales and the North
Park
A49 MANCHESTER
M56 A6
West including routes to Chester (18 minutes) and Shrewsbury A41 LIVERPOOL Runcorn
A556 A523
tional
(36 minutes). There are regular services to London Euston via M53
A533
Chester with a journey time of just over two and half hours. Hollywell A550
M56 A6
A623
t Na
A55 A41 Macclesfield Buxton
Northwich
Liverpool’s John Lennon Airport and Manchester International M6 A54
A556
tric
Airport are located 38 miles (61 km) and 45 miles (72 km) to the
Chester
Dis
A55 A494HAWARDEN A34
north east respectively. Middlewich
A54
A49
ak
A55 A523 A53
Pe
A51
Crewe
A494
WREXHAM A534
Nantwich A500 A520
A483 Newcastle-under-Lyme A523
Stoke-on-Trent
A5 A525 Cheadle
A5
A52
A51 M6 A50
A520
A495
Ellesmere Market
Drayton Uttoxeter
A516
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
DEMOGRAPHICS
Wrexham has a primary catchment area of
253,000 with an estimated shopping population
of 142,000, which is forecasted to see growth
over the period 2017-2021. The town has a
comparison retail expenditure potential of £600
million and this figure has been forecasted to
grow by 1.3% per annum in real terms between
2017 and 2021. Wrexham’s primary catchment
population is adults aged over 45 with a high
proportion of the population aged 65 and
above. Whilst Wrexham has an above average
retiree population it also has a strong student
population approximately 5 times larger than a
comparable PROMIS Town. Wrexham also has
an above average percentage of home owners
and a high proportion of 2 car households.
WREXHAM ARTS HUB
TRANSFORMATION OF THE
PEOPLE’S MARKET
In 2016 Wrexham council confirmed that works would
begin on the town’s Arts and Cultural Hub to provide a
venue for Wrexham’s growing Arts presence. The Hub will
be located on the ground floor and roof of the People’s
Market building which is situated adjacent to Henblas
Square. Wrexham has long benefited from having an
established visual arts background and strong music
scene but the town is now seeing an emergence of its
art sector. As a result the council has decided to create
a venue which reflects this with gallery spaces, open air
cinema and performance space, artist production spaces,
seating areas and a café-bar all alongside artist, artisan
and food produce stalls. This will promote town centre
living, increase footfall and stimulate Wrexham’s evening
economy, all helping to attract visitors to the town.
Parking levels one to six of the multi-storey car park above
the People’s Market will remain unaltered.
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
n Freehold
n Long leasehold for a term of
150 years from 01/01/1972.
N
IO
AT
UP
CC
NO
TI
NO
© Crown Copyright, ES 100004106. For identification purposes only.
Experian Goad Plan Created: 19/09/2017
50 metres SITUATION DESCRIPTION SITE AREA
Created By: Allsop
The property is situated on Regent Street just east of its The property comprises a parade of six retail units arranged over ground The property occupies a site area of 1.49 acres (0.6 hectares)
Copyright
junction withand confidentiality
St Mark’s Experian,
Road, which 2017.
provides © Crown
access to the copyright andand
database
part first floors (39 Regent Street trades from ground floor only). The For more information on our products and services:
carrights
park 2017. OSto100019885
situated the rear of the property. units that benefit from a first floor all trade from the ground floor with the www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
Nearby occupiers include Primark, Superdrug, HSBC, first floor used for storage purposes and staff facilities. The area highlighted TENURE
McDonald’s, Game, and Brighthouse amongst others. in pink on the goad identifies the property held long leasehold from the
The area highlighted in blue on the goad is held freehold.
Methodist Church. The upper parts of this highlighted area are occupied by
Wrexham Central station is situated approximately 100m The area highlighted in pink on the goad is held long leasehold for a
the Methodist Church and are not included in the sale. Servicing is provided
south of the subject property. term of 150 years from 01/01/1972 (approximately 104 years remaining).
to the rear of the properties and provide frontage on to Regent Street. The
car park provides 307 spaces and 4 disabled bays. The upper parts are owned separately and are not included in the sale.
There is a service yard to the rear of the property which is accessed off More information available on request.
Hill Street.
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
TENANCY SCHEDULE
Address Tenant Description Area Sq m Area sq ft Rent Rent Lease Lease Expiry Rent Review EPC Comments
Passing Passing Commence (Break) Rating
£p.a. ITZA £psf
31/33 Regent Street British Heart Foundation First Floor 331.8 3,572 £48,000 £4.63 09/05/2016 08/05/2026 09/05/2021 D81 The lease contains a service charge cap of
overall (09/05/2021) (£5,936* CPI) + £5,936
Ground Floor 631.5 6,797
Total 963.3 10,369
First Floor 90.8 978
Ground Floor 247.5 2,664
17/01/2026 The tenant has recently spent in excess of £250k
35 Regent Street Deichmann Shoes UK Ltd £20,000 £18.48 18/01/2016 18/01/2021 D94
(18/01/2021) on their fit out
ITZA 100.5 1,082
Total 338.3 3,642
First Floor 554.6 5,969
Ground Floor 222.3 2,393
37 Regent Street Shoe Zone Ltd £30,000 £21.08 01/07/2013 30/06/2018 D99
ITZA 132.2 1,423
Total 776.9 8,362
Ground Floor 131 1,409
Salvation Army Trading There is a photographic schedule of condition
39 Regent Street ITZA 56.8 612 £12,680 £20.72 30/11/2010 29/11/2020 D77
Company Ltd attached to this lease
Total 131 1,409
First Floor 390.8 4,206
£7.14
41 Regent Street Poundstretcher Limited Ground Floor 587.3 6,321 £75,200 26/05/1972 25/05/2071 26/05/2028 D92 Tenant is not in occupation
overall
Total 978.1 10,527
First Floor 55.0 592
No Access to the unit at the time of inspection.
Ground Floor 24.1 259 There is a photographic schedule of condition
43 Regent Street One Call Your Call Limited £5,000 £24.51 17/03/2017 16/03/2022 D95
attached to this lease. Areas provided by the
ITZA 18.9 204
vendor.
Total 79.1 851
307 car parking spaces plus 4 disbaled spaces.
There is a management agreement for the
car park which details that 65% of the gross
Terminable revenue received each month, by the tenant,
Britannia Parking
Car Park £70,166* on 3 months after deducting third party merchant services
Services Limited
notice. fees shall be paid be paid to the landlord. The
landlord is responsible for the payment of
business rates, utilities and maintenance.
More information available upon request.
3,226.7 35,160 £261,046
*Rent based on car parking accounts for the period (August 2016 - July 2017).
31-43
RE GENT STRE ET
WREXHAM, LL11 1RY
COVENANT INFORMATION
British Heart Foundation
British Heart Foundation is the UK’s number one heart charity that has been
operating for over 50 years funding cutting edge research to fight heart disease.
31 March 2015 31 March 2016 31 March 2017
Turnover - - -
Pre-tax Profit £24,600,000 (£20,500,000) £38,100,000
Total Net Worth (£7,100,000) £46,200,000 £78,700,000
Deichmann Shoes UK Limited
Deichmann has been a family owned business since 1913. The business started
in Essen Germany over 100 years ago and now operates from 24 countries with
approximately 3,800 stores and employs around 38,252 people.
31 December 31 December 31 December
2014 2015 2016
Turnover £74,172,000 £80,510,000 £86,443,000
Pre-tax Profit £424,000 £1,368,000 £708,000
Total Net Worth £17,158,000 £19,096,000 £21,975,000
Shoe Zone Retail Limited
Shoe Zone operates from over 500 stores within the UK and Republic of Ireland
employing over 3,500 people and selling approximately 20 million pairs a year.
04 October 2014 03 October 2015 01 October 2016
Turnover £172,861,000 £166,819,000 £159,834,000
Pre-tax Profit £11,677,000 £12,723,000 £10,410,000
Total Net Worth £29,677,000 £36,809,000 £30,145,000
Salvation Army Trading Company Limited
Salvation Army is worldwide Christian church and registered charity. The wider
international Salvation Army is at work in 128 countries. In the UK and Republic of
Ireland the salvation army has approximately 50,000 members, 4,000 employees
and 1,500 Salvation Army officers.
31 March 2014 31 March 2015 31 March 2016
Turnover £46,309,125 £44,109,819 £44,410,620
Pre-tax Profit £3,958,629 £1,099,890 £852,010
Total Net Worth £6,707,888 £8,416,659 £9,877,847
Poundstretcher Limited
Poundstretcher was founded in 1981 and is one of the UK’s leading discount
retailers. There are over 400 stores nationwide employing over 6,000 people.
31 March 2014 31 March 2015 31 March 2016
Turnover £395,360,000 £438,325,000 £429,538,926
Pre-tax Profit £1,347,000 £2,835,000 £2,405,347
Total Net Worth (£3,361,000) £16,829,000 £17,836,284
31-43
R EG EN T S T R E E T
WREXHAM, LL11 1RY
VAT
The property is VAT registered. It is envisaged that the
transaction will be treated as a Transfer Of a Going
Concern (TOGC).
PROPOSAL
Offers sought in excess of £2,450,000 (Two Million, Four Hundred and Fifty
Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level
reflects a net initial yield of 10% assuming purchaser’s costs of 6.37%.
For further information or to make arrangements for viewing please contact:
Andy Pointon Richard Lea
020 7543 6720 020 7543 6832
andy.pointon@allsop.co.uk richard.lea@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 10.17
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