Dakota portfolio Sale & Leaseback of 9 Freehold Retail Warehouse Investments
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dakota portfolio Sale & Leaseback of 9 Freehold Retail Warehouse Investments
portfolio summary • A sale & leaseback portfolio of 9 Wickes retail warehouse investments. • L et on new 15 year leases, subject to a T.B.O. at the 10th year and a 2 year rent penalty. • Wickes Building Supplies Ltd is a secure 5A1 covenant. • Seven units newly developed or reconstructed. • Strong trading locations and offering latest trading format. • Total GIA of 241,415 sq ft (excluding trading mezzanines of 29,522 sq ft). • Total initial rental £2,786,580 per annum. • L ow initial average rent of £11.54 psf, indicating excellent prospects for future rental growth. • 5 yearly upward only rent reviews to Market Value. • Quoting £43,600,000, exclusive of VAT. • Net initial yield of 6%. • T he preference is for the sale of the portfolio to a single purchaser. However, proposals for part of the portfolio or individual holdings will be considered.
locations
Cockerell Road, Corby,
Northamptonshire, NN17 5DU
Wade Street,
Halifax, HX1 1SN
Sweet Briar Park,
Hellesdon Road,
Norwich, NR6 5AP
Old Mills, Paulton,
Midsomer Norton, BS39 7SW
Gipping Way, Stowmarket,
Suffolk IP14 1EY
Unit 25 Castlefields
Industrial Estate,
Wylds Road,
Bridgwater, TA6 4DH
137-139 Somerford Road, Unit 1 Railside Retail Park 55-269 London Road,
Christchurch, BH23 3PY Shripney Road, Bognor Regis, PO22 9FL Burgess Hill, RH15 9QU
investment opportunity
Lease Structure VAT
The retail warehouse units will be leased back on overriding leases to be All properties will be elected for VAT. The transactional structure will
held by Wickes Buildings Supplies Limited for a term of 15 years. Each lease permit the sale and leaseback to be treated as a TOGC.
will include a tenant only break option on the 10 year anniversary subject
to a 2 year rental penalty. The lease will be issued in the Vendor’s standard
format on full repairing and insuring terms. Tenure
At Stowmarket, an additional unit of 10,271 sq ft will be occupied by and Each property within the portfolio is held Freehold.
let to Travis Perkins Trading Company Limited, adopting an identical lease
format to Wickes.
Proposal
At Halifax, an additional unit of 9,739 sq ft is independently let to Halfords
Quoting £43,600,000 (Forty Three Million, Six hundred Thousand Pounds)
Autocentres Limited for a term expiring 9th February 2024, at a passing
for the freehold interests, subject to contract and exclusive of VAT. This
rental of £50,000 per annum.
price reflect a Net Initial Yield of 6%, assuming standard Purchase’s Costs
If appropriate, leases and the sale of a property will be completed and SDLT of 6.54% (SDLT apportioned to the individual holdings).
following Practical Completion of those units still under construction.
The preference is for a sale of the portfolio to a single purchaser. However,
Rental Income proposals for part of the portfolio or individual holdings will be considered.
The aggregate initial rent receivable will be £2,786,580 per annum. A
schedule of individual rents can be found within the Tenancy Schedule.
Rent Reviews
All leases are subject to five yearly upward only rent reviews to
Market Value.
Non-structural trading mezzanines and associated ancillary
accommodation (amounting to approx. 29,522 sq ft GIA) are to be
regarded as tenant’s fit out works and will be excluded at rent review
and lease renewal.
tenancy schedule
Grd 1st Total GIA Rent (£ PSF)
*Mezzanine (Ex. Mezzanine) Site Area Site Rent
Towns Brand Trading Ancillary GIA +
SQ FT Acres Coverage £ PA
SQ FT SQ FT SQ FT SQ M 1st Off
Burgess Hill Wickes 19,776 1,293 2,915 21,069 1,957 1.22 37% £325,000 £15.43
Christchurch Wickes 18,820 - 5,613 18,820 1,748 1.23 35% £281,330 £14.95
Wickes 35,288 1,475 - 36,763 3,415 £330,000 £8.98
Halifax 3.11 32%
Halfords 8,023 1,716 - 9,739 905 £50,000 £5.13
Wickes 25,068 - - 25,068 2,329
Midsomer
CPS 3,672 - 2,162 3,672 341 4.13 18% £357,500 £10.92
Norton
TBC 3,996 - - 3,996 371
Wickes 20,371 - 5,000 20,371 1,854 £258,000 £12.92
Stowmarket 2.69 26%
Travis Perkins 10,271 - 3,832 10,271 954 £62,000 £6.04
Corby Wickes 20,233 - 5,000 20,233 1,880 2.00 23% £193,500 £9.56
Norwich Wickes 25,000 - - 25,000 2,323 2.53 23% £357,750 £14.31
Bridgwater Wickes 25,574 838 - 26,412 2,454 2.07 28% £281,250 £10.65
Bognor Regis Wickes 20,000 - 5,000 20,000 1,858 1.61 29% £290,250 £14.51
236,093 5,322 29,522 241,415 22,428 20.58 26% £2,786,580 £11.54
* Trading Mezzanines and associated ancillary accommodation to be regarded as Tenant’s Fit-Out works.
tenant covenants
Wickes Building Supplies Limited (Reg. No: 1840419) and Travis Perkins Trading Company Limited
(Reg. No: 0733503) are wholly owned subsidiaries of Travis Perkins plc, a FTSE 100 listed company
whose 20 businesses trade from over 2,000 sites throughout the UK. It is a leading company in the
builders’ merchanting and home improvement markets.
Travis Perkins plc reported a Group 6.5% increase in turnover for Y/e December 2015 to £5.94 billion, pre-tax profits of £223.5m and an
8.7% increase in EBITA to £413 million. For Q1 2016, Travis Perkins Plc reported a 4.2% increase in Group like-for-like sales. The public release
of the 2015 accounts and H1 2016 trading figures are imminent.
Wickes trades from a total of 236 stores. It is the Travis Perkins is the UK’s leading
UK’s fastest growing DIY retailer and the market builders merchant for trade customers.
leading online DIY proposition. The new trading It currently has 656 branches with an
format stores are driving a strong uplift in sales and active investment programme driving further expansion. A 4.7% increase
a 7.3% increase in like-for-like sales during Q1 2016 in like-for-like sales during Q1 2016 was reported for the ‘General
was reported for the ‘Consumer Division’ of Travis Perkins plc. This builds Merchanting Division’ of Travis Perkins plc. This builds on a 3.9% increase
on a 5.3% increase for Y/e December 2015. for Y/e December 2015, which outperformed the market.
Wickes Building Supplies Limited has a D&B Rating of 5A1 representing a Travis Perkins Trading Company Limited has a D&B Rating of 5A1
“minimum risk of business failure”. Summaries from available accounts for representing a “minimum risk of business failure”. Summaries from
the three previous trading years are: available accounts for the three previous trading years are:
Last Turnover Pre-Tax Profit Net Worth Last Turnover Pre-Tax Profit Net Worth
Accounts £’000 £’000 £’000 Accounts £’000 £’000 £’000
27/12/2014 £1,039,986 £68,761 £355,080 31/12/2014 £2,197,772 £125,215 £512,422
28/12/2013 £972,038 £49,441 £298,859 31/12/2013 £1,947,392 £129,959 £615,454
29/12/2012 £976,136 £55,050 £273,471 31/12/2012 £1,755,318 £117,459 £568,335
tenant further
covenants information
(continued)
Halfords Autocentres Ltd (Reg. No: 04050548) is Dataroom
a wholly owned subsidiary of Halfords Group Plc. An electronic dataroom has been fully prepared and access will
They are “one of the UK’s leading independent car be arranged by request. Warranty packages are available on
servicing and repair operators” trading from all newly constructed units.
314 sites throughout the UK.
Halfords Group Plc is listed in the FTSE 250 and for the year ending Contact
1st April 2016 had Total Group Revenue of £1.02 billion; pre-tax profits
For further Information or to arrange an inspection,
at £81.5 million and net assets of £406.4 million. Detailed accounts are
please contact:-
not yet available for Halfords Autocentres Ltd but the Group Preliminary
Results for the same period show a 4.1% increase in turnover to £153
million to 1st April 2016 and 13.2% increase in EBITDA to £8.6 million.
Halfords Autocentres Limited has a D&B Rating of 4A 1 representing a Paul Yeadon Brook Stotesbury
“minimum risk of business failure”. Summaries from available accounts cpy@hsmuk.com bs@hsmuk.com
for the three previous trading years are: DDI: 020 7318 1931 DDI: 020 7318 1938
Last Turnover Pre-Tax Profit Net Worth
Accounts £’000 £’000 £’000
03/04/2015 £150,276 £2,203 £33,788
Switchboard: 020 7629 2030
03/04/2014 £136,607 £1,754 £31,971 SUBJECT TO CONTRACT & EXCLUSIVE OF VAT
03/04/2013 £125,787 £3,522 £30,941
www.hsmuk.com
55-269 London Road, Burgess Hill, RH15 9QU
M5
A38
D
M25 R OA
J9 J5 LEYLANDS A37
MIL
LEATHERHEAD M25
J7 J6
L RO
CHEDDAR
AD
A22 A21
TONBRIDGE ROY PARK ROAD A38
A24 AL G
E
AV
M23 E ORG E R
A273
RIA
OAD LOWER CHURCH RD J23
O
VICT
A264 BRIDGWATER D A361
NT ROAA39
CRAWLEY CRESCE
ROAD
CIVIC WAY
A37
A264 VI C TORIA ROAD TORIA WAY
JUNCTION
J11 A26 VIC
HORSHAM A22 A21 YORK ROAD
VIC TORIA A303
CLOSE
CHA
D O N R OA D
A272 A23 D
N ROA
STATIOJ25
RLES A VE
AD
ALBERT DRIVE
JAN
A272 BURGESS
R Y RO
A358 A37
EM
UR HILL
N
YEOVIL
6) LO
NUE
A23 BURGESS RAY
A303
BU
A273 HILL WA BURGESS HILL
Y
(B203
TON
A24 A26 A361
KEYMER ROA
A22
CHANC
J27
A30
A27 A273
HONITON
D
WORTHING BRIGHTON A27 M5
A37
EASTBOURNE A30 A35 LYME REGIS
EXETER
J29
Location Catchment and Demographics Accommodation
Burgess Hill is an established commercial centre and popular commuter Burgess Hill is one of the fastest growing towns in West Sussex. It has a
Floor/Unit Sq M GIA Sq ft GIA
town located in West Sussex. The town lies approximately 10 miles north resident population of approximately 30,635 and a larger district (Mid
of Brighton, 4.5 miles south of Haywards Heath and 15 miles south east of Sussex) population of 155,900 (2011 Census). Significant residential Ground Floor Trading 1,837 19,776
Horsham. Gatwick Airport lies approximately 16 miles to the north. expansion is forecast for Burgess Hill with some 6,100 homes either 1st Floor Ancillary 120 1,293
The town is well served by its road links being at the junction of the A2300 committed or targeted for construction.
Trading Mezzanine* 271 2,915
and A273. These provide fast connections to the A23/M23, approximately In anticipation of this expansion, New River Retail submitted development
4.5 miles to the west of the town centre, whilst the A27 coastal route is proposals for the mixed-use regeneration of the Martlets Shopping TOTAL 2,228 23,984
approximately 8 miles to the south. Centre. The £65 million development will provide some 200,000 sq ft of Total site area is approximately 1.22 acres (0.49 hectares) with site coverage
Burgess Hill benefits from excellent rail communications. It has fast accommodation to include a multiplex cinema, budget hotel, restaurants, of 37%.
and frequent rail links to London taking approximately one hour via residential and retail units with some 500 car parking spaces.
the Thameslink, Southern and Gatwick Express services. The town’s NB *The trading mezzanine is to be regarded as Tenant’s fit-out works and is
commuters predominantly travel to larger commercial centres such as Description to be disregarded at rent review or lease renewal
Crawley/Gatwick, Brighton and London. However, Burgess Hill has also
attracted a significant number of national and international companies
The property comprises a purpose built, retail warehouse unit constructed
in 1986. The unit is of steel portal frame construction (6.1m to underside of
Planning
housing offices on their four business parks in and around the town. haunch), with predominantly brick/cladding elevations and a single storey The property has planning consent for the “retail sale of ‘Do It Yourself’
Major employers include Roche, The Technetix, Filofax, American Express, glazed entrance lobby area home improvement, builders merchants and garden products, and for no
Honeywell, Porsche and Rockwell Collins. Local Business Parks Association other purposes within Class 1 of Town & Country Planning (Use Classes)
A former Focus DIY unit, the unit was recently comprehensively Order 1972”.
estimates that some 8,000 people are employed within these offices refurbished and refitted. Works included the installation of a mezzanine
which have a combined annual turnover of c. £2 billion pounds. area which is fitted out as a bathroom and kitchen showroom. The unit
has ground and first floor staff and administrative accommodation.
Tenancy
Situation Externally there is a builders’ yard and outdoor projects centre enclosure. Wickes Building Supplies Ltd will take a 15 year leaseback on the property
The subject property is situated in a prominent and highly visible An extensive concrete and tarmac service area/car park provides a total of at an initial rental of £325,000 pa. The lease will be in the Vendor’s standard
edge-of-town centre location, at the junction of Victoria Way and the 81 car parking spaces (1 per 296 sq ft GIA). format on FRI terms with 5 yearly, upwards only rent reviews to Market
B2036 London Road. The Market Place and Martlets Shopping Centres Value and incorporating a Tenant’s Option to Break at the tenth year,
are approximately half a mile to the east of the property. Halfords and Tenure Freehold subject to a two year rental penalty.
Carpetright occupy units immediately opposite whilst Travis Perkins
occupy a neighbouring unit. Further non-food retail accommodation in VAT EPC
Burgess Hill is restricted to B&Q, Pets At Home, Screwfix and a number of The property has been rated (B47). A copy of the Energy Performance
The property will be elected for VAT.
‘trade’ operations. Certificate is available upon request.
137-139 Somerford Road, Christchurch, BH23 3PY
A303 GILLINGHAM A30
A36 ANDOVER
ANDOVER
A338 A34 A338
A303
A303
A36 BURTON A36
J9
D SALISBURY W
SALISBURY WINCHESTER TR
RS
HU
STON
D
M3 RIVER MUDE LYN
Y LAN
5) A350
A350 RIVER AVON ASS (A3
CH BYP
FAI
E
CHUR HIGHCLIFFE A354 J4
RIST
R
J4 (A337 J3
MIL
A354 CH M27
J3 5) ) HIGH
M27 M27 (A3
ER
CLIFF SOUTHAM
E RD
D
SOUTHAMPTON A35
AY
A35 CHRISTCHURCH PUREW RD
THE RUNW
ELL CR
NE
RD A31
WLAN D S
O
RF O HIGHCLIFFE RINGWOOD
RINGWOOD A31 E A337
D
SS RD
SOM GOLF COURSE
UR R
A337
RD
A350 NEW FOREST
PUREWELL
HIG
STO
A350 AY A338
LE ST DW
A354 A31
HS
NEW FOREST
A338 CAST MU LAN A341
T
DEF VIL
STA
A31 A35
ANE
A341 OR HA A3049
CHRISTCHURCH IP DL A337
NP
A35 E A35
BURE L
A3049 AN D
A35 A337 A338 NEW MILTON
CHRISTCHURCH
E
POOLE
A338 CHRISTCHURCH BOURNEMOUTH
POOLE FOR
MUDE D
BOURNEMOUTH RIVER STOUR
ISLE OF W
Location Description Accommodation
The affluent town of Christchurch forms part of the larger The property comprises a modern purpose built, single storey
Floor/Unit Sq M GIA Sq ft GIA
Bournemouth/Poole conurbation. The town is approximately retail warehouse unit which opened for trade in 2015. The building
25 miles south west of Southampton and 105 miles from London, with is of modern design and specification, being of steel portal frame Ground Floor 1,748 18,820
Bournemouth town centre approximately 5 miles to the west. The construction, with a ground floor external entrance lobby, with a height Trading Mezzanine & Ancillary* 521 5,613
town benefits from good road communications, the A25 providing links to underside of haunch of 6.67m. External elevations and roof are of
TOTAL 2,270 24,433
to Bournemouth and Poole whilst the A31 trunk road provides fast links profiled metal cladding whilst internally there is concrete block work
to the M3 and M27 at Southampton. Christchurch is also well served to 2.5m. Total site area is approximately 1.23 acres (0.50 hectares) with site coverage
by mainline railway services with a fast and frequent train link between The unit has ground and first floor staff and administrative office of 35%.
London Waterloo, Southampton and Bournemouth. The fastest journey accommodation and a mezzanine has been installed which has been
time to Waterloo is approximately 1 hour 50 minutes. Bournemouth
NB The property will be measured following Practical Completion of the building
fitted as bathroom and kitchen showroom. contract. *The trading mezzanines and mezzanine ancillary accommodation is
International Airport is 5 miles to the north of the town centre and this to be regarded as Tenant’s fit-out works and is to be disregarded at rent review
To the rear of the property is an enclosed building products and outdoor or lease renewal
provides frequent services throughout the UK into major European cities.
projects centre, as well as a secure service yard. The car park to the front
Situation of the unit is laid to tarmac and has a total of 58 car parking spaces (1 per EPC
350 sq ft).
The property occupies a prominent corner position at the junction of The property has been rated (A-20). A copy of the Energy Performance
the B3059 Somerford Road and Penton High Street. Lying approximately Certificate is available upon request.
1 mile east of Christchurch town centre, Somerfield Road is arguably the Tenure
preeminent out of town retail location for Christchurch. Freehold VAT The property will be elected for VAT.
Occupiers in the area include Sainsburys, Lidl, McDonalds and Travis
Perkins. Redevelopment of the neighbouring Meteor Retail Park is Planning
nearing completion and this has been fully pre-let to TK Maxx, Aldi, The property has planning consent for the “sale of DIY, home
Bathstore, Poundland, Sports Direct and Matalan. Adjoining the Wickes improvement and building materials/items all for purposes within
store is a Penton Citreon car dealership. Class B8. The mezzanine floor shall only be used as a showroom for the
sale of kitchens and bathrooms”.
Catchment and Demographics
The 2011 Census recorded a population of 54,210 for Christchurch. This
Tenancy
is forecast to grow by a further 16% to 62,100 by 2028. The town forms The lease will be in the Vendor’s standard format.
part of the South Dorset conurbation with an urban area population Initial rental of £281,330 per annum.
estimated at 400,000.Wade Street, Halifax, HX1 1SN
A629 A303
A36 ANDOVER
A660
NORTH
A59 A682 A338 A34
A6068 A303
A658 A36
GATE
A650 BRADFORD J9 BURTON
J13 Y
A629 WA WINSALISBURY
DING RO WINCHESTER
CK EET
MU
A6120 DO AD
STR
ORAN
D
UR TR
LCT
DE RS
M65 LEEDS WA
URE
HU
B
GE ST
STON
PEL M3 D
J46
LYN
HALL ROAD
J8
LON A350 RIVER MUDE
5)
YL
L AN T
M1 TREE (A3
ANE
E DS
RIVER AVON
PASS
BURNLEY A6036
OA A354 J4 RCH BY
FAI
A646 J26 M62 A58 BR J3 TCHU HIGHCLIFF
HRIS
RM
A58 J42 M27 M27 (A337
) C
KING STREET ) HIGH
ILE
5
SOUTHAMPTON (A3 CLIFF
R
ER
D
HALIFAX J25 GIBBET STREET A35
A56
AY
CHAR
A644 J40 CHRISTCHURCH PUREW RD
THE RUNW
A31 ELL CR
NE
J24 RINGWOOD
A638
ORD
WLAN D S
O
ERF
LES STR
A337
D
SS RD
OM
H ST
UR R
COW GREEN
A58 S
COMMERC
M62 A350
RD
ROCHDALE HUDDERSFIELD HALIFAX PUREWELL
C
NEW FOREST
HIG
STO
EET
A338
CHUR
M66 LISTER LANE Y
A31 LE ST WA
HS
CAST
A341 MU D
LAN
T
J2 DEF VIL
STA
IAL S
A35
ANE
A3049 OR HA
A629 A337 CHRISTCHURCH IP DL
NP
E
BURE L
A629 A35 AN D
TREET
A338 CHRISTCHURCH
POOLE
E
J18 OLDHAM M1 OU
BOURNEMOUTH
F
M60 NTA
IN S FOR
MUDE D
RIVER STOUR
TRE EET
E HORTON STR
MANCHESTER HALIFAX
ET
Location Accommodation
Halifax is an important industrial and commercial centre lying within (7.9%). The urban area population for Halifax was recorded at 88,134 (2011 Wickes
Calderdale Metropolitan Borough Council. Bradford lies approximately Census) and was forecast to have risen to 90,210 by 2014.
Floor/Unit Sq M GIA Sq ft GIA
8 miles north east of the town centre and Leeds approximately 16
miles to the east. The town is well served by road connections being Description Ground Floor Trading 3,278 35,288
approximately 5 miles north of the M62 motorway and approximately 15 The property comprises two purpose-built single retail warehouse units 1st Floor Ancillary 137 1,475
miles west of its junction with the M1. Rail communications are also good occupied by Wickes and Halfords Auto Centre. The units were redeveloped
with frequent and rapid links to Manchester, Bradford and Leeds. There are TOTAL 3,415 36,763
in 1989 and both retail units are of steel portal frame construction with
regular connections to London Kings Cross with the fastest journey time the external elevations clad predominantly in natural stone together
of approximately 3 hours. The town serves as a commuter centre for larger with profiled metal cladding or natural slate to the roofs. Internally, both Halfords
commercial centres within the conurbation but major employers include of the units have ground and first floor ancillary staff and administrative Floor/Unit Sq M GIA Sq ft GIA
Lloyds Banking Group (Halifax Plc) and Rowntree Mackintosh. accommodation. Minimum eaves height for the Wickes unit is 7.53m whilst Ground Floor Trading 745 8,023
the Halfords Auto Centre has a minimum eaves height of 5.63m, both to
Situation underside of haunch. Both units are lined internally with block work. 1st Floor Ancillary 159 1,716
The property occupies a large and prominent corner site at the junction Externally, the Wickes unit has a large and secure builders’ yard/outdoor TOTAL 904 9,739
of Wade Street and Winding Road. This is on the edge of the town centre projects centre, together with a separately accessed service yard. The
with the Woolshops Shopping Centre (the principal retail provision for the Halfords unit is similarly serviced and the site provides a total of 170 car Total site area is approximately 3.11 acres (1.26 hectares) with site coverage
town) being immediately opposite. Adjacent and to the north of the site is parking spaces of which 21 are demised to the Halfords unit. of 32%.
a Sainsburys Superstore, whilst two serviced car park sites are to the south
of the property. The main bus station lays to the west of the site and the Planning Tenancy
main railway station approximately half a mile to the south. The Wickes property has a “broad bulky-goods” consent permitting the
Additional out-of-town retail provision is nearby including facilities Wickes Building Supplies Ltd will take a 15 year leaseback on the property
retail sale of goods listed within a Section 52 Agreement. A Change of Use at an initial rental of £330,000 pa. The lease will be in the Vendor’s standard
for Currys PC World, Next, DW Sports and Matalan. There are further “from Trade Counter A1 to vehicle servicing/repair and MOT testing centre
concentrations of out of town retail on Pellon Lane where the Halifax, format on FRI terms with 5 yearly, upwards only rent reviews to Market
(B2)” was obtained on the Halfords Autocentres unit on 17th January 2014. Value and incorporating a Tenant’s Option to Break at the tenth year,
Greenmount and Pellon Lane Retail Parks house a selection of retailers A further planning application has been recently submitted by Halfords to
including TK Maxx, Sports Direct, Carpetright, The Range, Pets At Home subject to a two year rental penalty. Halfords Autocentres Ltd occupies
expand their hours of operation. its unit by way of an FRI lease expiring 9th February 2024 at a current rental
and Aldi.
of £50,000 pa. The lease is subject to a Schedule of Condition prepared
Tenure Freehold following completion of ‘Tenant’s Works’. The rent review on 10th February
Catchment and Demographics 2019 is upwards only to open market rental value, subject to a cap of 3% pa
The Metropolitan Borough of Calderdale had a population of 203,800 (2011 EPC The Wickes unit has been rated (E-112) and the Halfords Autocentres compounded ie £57,964 pa (£5.95psf).
Census) which has witnessed a 9.5% increase in the number of households unit (D-88). Copies of the Energy Performance Certificates are available
over the previous decade, larger than the average for England and Wales upon request. VAT The property will be elected for VAT.Old Mills, Paulton, Midsomer Norton, BS39 7SW
A629
A58
RD
OAD PAU A303
ROA D
NORTH
J20
WELLS R LTON PAULTON
A36
BATH ANDOVER
S TOL
ROA
D
O HILL
BRI
GATE
T
Y J19 M4 J17 A37 PAUL
A338 A34 BURTON
WA WINDING R A303 LANE LN
OCK EET J18
OAD M4 HAMA36
MU
STR RS
ORAN
M32
LCT
DE J9 RD
O VE
WA
HIG
A350
M5 H L ST
URE
GE ST
A4174 D STR
SALISBURY WINCHESTER UR
WATER
STON
A46 OA E RD H
HALL ROAD
NR DOWN LN ND
L S LANE
CLAN ) LY
ET
T
RUSH HILL
TREE TL O RIVER MUDE
YL
DS BRISTOL M3 35
ANE
OA RIVER AVON
PASS (A
PAU
BR A4 RCH BY
FAI
A350
TCHU
MIL
ILL HIGHCLIFFE
HRIS
RM
A38 KING STREET A362 RY H WELTON ) C (A337
OLD
XBU )
ILE
BATH 5 HIGH
A354 J3
J4 (A3 CLIFF
R
A36 M27 E RD
BO
M27
D
CHAR
A37 AD
A39 T H I CKET MEAD WEST RO
AY
SOUTHAMPTON CHRISTCHURCH PUREW RD
THE RUNW
ELL CR
NE
ORD
LES STR
A39
WLAN D S
WELLOW BROOK A35 O
H ST ERF
(B3355) NORTHMEA
COW GREEN
D
COMMERC
FARRINGDON PARK
SS RD
A367 OM
UR R
HALIFAX A36 GOLF COURSE RINGWOOD NORTH RA31
OAD S
RD
C
EET
CHUR
NE PUREWELL
HIG
STO
E A337
A38 AY
MIDSOMER AN A350 LE ST DW
HS
CAST MU LAN
IAL STREE
NORTON A361
L
T
DEF VIL
STA
NEW FOREST
’S
MIDSOMER A338
ANE
OR HA
LEY
A629 A362 A350 A31 CHRISTCHURCH IP DL
NP
NORTON DE
BURE L
A341
LANG
AN
A37
E
DR
FO A35 CHAR
N
A3049
T
A39 A337LTON R
E
O
RY LA
AD
UN
RD
TAIN A367 A35 D
SILVER
LLS
FOR
STR MUDE D
EET A338 CHRISTCHURCH RIVER STOUR
BER
HORTON STR POOLE
WE
J22 E HALIFAX BOURNEMOUTH A367
ST
T
EET
CH S
A361
R
M5 A36
CHU
A37
Location Accommodation
Midsomer Norton is an attractive and historic Somerset market town Park, a serviced office operation situated to the rear of the property and
which lies in the Somer Valley to the east of the Mendip Hills, some which houses some 30 local businesses. A Tesco superstore is opposite Floor/Unit Sq M GIA Sq ft GIA
16 miles southeast of Bristol, 11 miles southwest of Bath, 10 miles the property as are a number of local ‘trade’ operators, within the Old Mill Wickes - Ground Floor 2,329 25,068
northwest of Frome and 126 miles west of London. Historically a mining IE. Further out-of-town retail provision is limited within Midsomer Norton,
CPS – Ground Floor 341 3,672
centre, the towns in the Somer Valley retain a diverse manufacturing base although Halfords occupy a unit close to the town centre, which also
houses stores for Sainsbury’s and a recently constructed Lidl unit. CPS – Mezzanine* 201 2,162
which accounts for 25% of employment. Midsomer Norton is a retail and
service hub for an extensive rural hinterland, as well as a commuter town Unit 3 – Ground Floor 371 3,996
for the larger commercial centres, such as Bristol and Bath. Description TOTAL 3,242 34,898
The town benefits from good road communications with the A37 The property comprises a comprehensively refurbished and remodelled
retail warehouse unit. It was recently subdivided to provide a main retail Total site area is approximately 4.13 acres (1.67 hectares) with site
providing direct links to Bristol and Shepton Mallet whilst the A36 serves coverage of 18%.
Bath, via the A362. Junction 18 of the M4 motorway is 20 miles to the warehouse unit for Wickes and two smaller retail/trade units, one of which
north and the nearest main line rail connection is at Bath Spa, which has is occupied by City Plumbing Supplies (a Travis Perkins plc subsidiary) NB *Mezzanine storage accommodation within the CPS unit is to be regarded as
fast and frequent connections to London. Bristol International Airport is whilst the other is being actively marketed. The Wickes CPS unit has Tenant’s fit-out works and is to be disregarded at rent review or lease renewal
been fitted out with their standard showroom and trade counter, whilst
one of the fastest growing regional airports in the UK and is 15 miles to
the northwest. a mezzanine storage area has also been installed. Original natural stone Planning
cladding was retained but the refurbishment works included the over- Planning consent for the “Refurbishment of existing retail unit (Class A1)
Catchment and Demographics cladding of the remaining elevations and roof of the property with an including demolition of existing entrance lobby; erection of new entrance
Midsomer Norton has a resident population of 10,997 (2011 Census) and a insulated profiled steel panelling system. Internally, the Wickes unit has a lobby; replacement cladding; new customer entrances to south elevation;
total population of c 28,000 when the villages of Paulton, Peasedown and height to underside of haunch of 4.15m. The two remaining units have a creation of storage compound and outdoor project centre enclosures;
Radstock are included. The estimated catchment population is 46,000. minimum eaves height of 3.26m to the front of the units and 4m to the revised parking layout; new and replacement planting; and associated
Being outside the Bath and Bristol Green Belt, the Bath & North East rear. Ground floor staff amenities, canteen and administrative offices have works.” was granted on 28th February 2015.
Somerset Core Strategy (2014) is actively promoting the retail regeneration also been constructed. The store opened for trading in October 2015.
of the town centre; the re-development of the former Alcan factory and Externally, the property benefits from extensive tarmac and block work Tenancy
the 13.5ha Old Mills Industrial Estate (adjoining the site) to provide some surfaced car parking for a total of 166 vehicles (1 per 197 sq ft GIA). Wickes Building Supplies Ltd will take an overriding 15 year leaseback on all
900 permanent jobs, plus residential expansion with some 2470 new Covered trolley and cycle racks have been provided. Accessed separately three units at an initial aggregate rental of £357,500 pa. The lease will be in
homes to be built by 2029. off the estate road are a secure outdoor project centre and delivery the Vendor’s standard format on FRI terms with 5 yearly, upwards only rent
compounds for the Wickes unit, together with a gated but open concrete reviews to Market Value and incorporating a Tenant’s Option to Break at
Situation service yard shared by the two other units. the tenth year, subject to a two year rental penalty.
The property occupies a large site, approximately half a mile northwest
of the town centre with an extensive frontage to the A362, the main Tenure Freehold EPC
east-west route through the town. The property is accessed via an adopted The property has been rated as (A-16). A copy of the Energy Performance
estate road which also provides access to the Somer Valley Enterprise VAT The property will be elected for VAT. Certificate is available on request.Gipping Way, Stowmarket, Suffolk IP14 1EY
Gipping Way, Stowmarket, Suffolk IP14 1EY
A10 A11 A303
A134 A36 ANDOVER
A629 THETFORD A338 HR
D A34
A58 A142 ELY A1066 A143 A14 A303 URC
A1066 A36 CH
SPR
NORTH
A11 J9
OAD
NEWTO N
I N G ROW
ND R SALISBURY WINCHESTER
A1308 UPLA BURTON
MO
A142 A143
GATE A10 STOW
RTI
WINDING R
A1220
MER ROAD
RD
OAD EET OL
VI
MU
E M3 D
STR TR
ORAN
A14 RS
LCT
DE A14 A350
TH
WA HU
STON
URE
A140
GE ST
D
ILL RD
STOWMARKET
J14 BURY ST A14 A354 J4 LYN
HALL ROAD
A14 RIVER MUDE
5)
YL
NEWMARKET J3
GI P
EDMUNDS ACH
TREE
T PPRO A14 M27 M27 (A3
ANE
BYPASS
STATION R D RIVER AVON
TAVERN STREET
P IN
DS CAMBRIDGE ION A URCH
FAI
OA AT SOUTHAMPTON ISTCH HIGHCLIFFE
GW
VIG
RM
BR NA HR (A337
J11 A11 A35 5) C
AY
)
ILE
(A3 HIGH
KING STREET STOWMARKET IPSW CLIFF
R
ICH A31 E RD
D
RINGWOOD
AY
A337 CHRISTCHURCH PUREW RD
CHAR
STREET
RIVER GIPPING
THE RUNW
ELL CR
NE
A505 ORD
WLAN D S
IPSWICH A350 O
J9 NEW FOREST ERF H
LES STR
D
A338
SS RD
RATTLESDEN RIVER
SOM GO
UR R
A12ST A31
RD
COW GREEN
COMMERC
H A341 PUREWELL
HALIFAX
HIG
STO
A35
C
A14 A1220 Y
LE ST
EET
A3049
CHUR
WA
HS
CAST
M11 COM A337 MU D
A35 LAN
T
A10 BS LAN DEF VIL
STA
ANE
E A338 OR HA
IAL S
POOLE CHRISTCHURCH CHRISTCHURCH IP DL
NP
DE
BURE L
BOURNEMOUTH AN
A629 NE
TREET
STANSTED
ED
HILL
AIRPORT A120
E
HA
E
FO
N
STOWMARKET M
LAR
RY LA
UN RD FOR
MUDE D
RIVER STOUR
TAIN J8 A120 COLCHESTER
OP
STR EET P
BER
E HORTON STR HALIFAX
T
EET
CH S
R
CHU
Location Accommodation
Stowmarket is an historic market town and established commercial centre recently constructed Navigation Approach, across the neighbouring River
located 14 miles north of Ipswich; 16 miles southeast of Bury St Edmunds Gipping, provides access to outlying residential areas and satellite villages Floor/Unit Sq M GIA Sq ft GIA
and 93 miles northeast of London. The town lies within Mid Suffolk via the B1115. The immediately adjoining balance of the site is being
promoted for either further commercial or residential development. Wickes – Ground Floor 1,893 20,371
District Council and has a diverse employment base including several
major manufacturers and distributors such as PPG Industries, Akzo Nobel, Following the closure of a recently constructed Morrisons unit Wickes – Trading Mezzanine & Ancillary* 464.5 5,000
TDG, Bosch and Muntons plc. The town benefits from excellent road (immediately opposite the site), supermarket provision is provided by a
town centre Asda store, a Tesco superstore and a Lidl unit, recently opened Travis Perkins – Ground Floor 954.2 10,271
communications having immediate access on to the A14 dual carriageway
which in turn leads to the A12 at Ipswich. Cambridge is some 42 miles to on Gipping Way. Retail warehouse/trade provision is currently limited to Travis Perkins – Trading Mezzanine* 356 3,832
the west which provides access to the M11 and the national motorway Jewson, Plumbase and Plumbcentre.
TOTAL 3,667 39,474
system. The town has grown in popularity as a commuter centre for larger
commercial centres, aided by fast and frequent rail services to London Description
Liverpool St (1hr 25mins); Ipswich (12mins) and Norwich (32 mins) The development comprises a Wickes retail warehouse in their new Total site area is approximately 2.69 acres (1.09 hectares) with site
trading format and a separate Tarvis Perkins builders’ merchant unit, coverage of 26%.
Catchment and Demographics accessed off Iron Foundry Rd. Both buildings are of steel portal frame NB Floor areas are to be confirmed following completion of fit-out works.
Stowmarket has a resident population of approximately 19,000 (2014 – construction with profiled metal cladding roofs and external elevations. *The trading mezzanines and mezzanine ancillary accommodation is to be regarded
Mid Suffolk DC) which is forecast to rise to c 21,000 by 2021. The District The Wickes unit has a minimum eaves height to underside of haunch as Tenant’s fit-out works and is to be disregarded at rent review or lease renewal
population was 99,600 (2015) and the resident population within a ten of 7m and 6m for the Travis Perkins unit. Each unit has its own self-
mile radius, principally agricultural hinterland is estimated at 128,000. The
town has been targeted within the Mid-Suffolk Action Area Plan for both
contained, concrete surfaced, secure service yard and either an outdoor Planning
projects centre or hire compound. Both units have mezzanine floors
residential and economic growth with several major sites allocated to the The Wickes unit has planning consent for “the sale of non-food retail items
installed as part of the Tenant’s fit-out works , with the Wickes mezzanine
north, south and east of the town centre. This expansion includes a target as follows: DIY - garden goods and furniture, carpets, floor coverings and
providing bathroom and kitchen display areas as well as ancillary staff
of nearly 2000 new homes, many of which are already under construction bulky electrical goods; unless otherwise agreed in writing by the local
accommodation. Externally, the Wickes unit has provision for 49 vehicles
and which will give a further boost to the vibrancy of the town and the planning authority and for no other purposes within Class A1”. The Travis
and Travis Perkins a total of 22 vehicles. The units have been recently
local economy. Perkins unit has planning consent to be used as “a sui generis builders
constructed with Practical Completion being achieved on 17th June 2016.
Travis Perkins is due to commence trading on 27th July 2016 and Wickes merchants with open storage”.
Situation on 10th August 2016
Tenancy
The property occupies a prominent and highly visible site, immediately
to the east of the town centre, on the corner of Gipping Way and Iron Tenure Freehold Wickes Building Supplies Ltd will take a 15 year leaseback on their unit at
Foundry Road. The A1308 Gipping Way serves as the main north-south an initial rental of £258,000 pa and Travis Perkins Trading Company Ltd
route bypassing Stowmarket town centre and providing direct access on EPC The Wickes unit has an EPC rating of A 19 and the Travis Perkins unit with take a similar lease at an initial rental of £62,000 pa. Both leases will be
to the A14. Stowmarket railway station is half a mile to the north of the an EPC Rating of B 29. Copies of the certificates are available on request. in the Vendor’s standard format on FRI terms with 5 yearly, upwards only
property. The main employment/industrial areas are approximately 2 rent reviews to Market Value and incorporating a Tenant’s Option to Break
miles to the south of the property at the junction with the A1120 whilst the VAT The property will be elected for VAT. at the tenth year, subject to a two year rental penalty.Cockerell Road, Corby, Northamptonshire, NN17 5DU
A629 A303
A58 A36 ANDOVER
NORTH
J9 LEICESTER A1
AD A338 A34
A606 A303 RO BURTON
GATE
A36
RELL
Y A15
WA WINDING R J9
COCKE
CK OAD EET
MU
DO STR SALISBURY
ORAN
WINCHESTER T
RO C
UR RS
LCT
J9 A47 DE ROA
D
HU
WA
STON
COUR
KIN
A47
URE
TION ND
B
GE ST IER R
Y
ELL M69 UPA Y
GH
OA
KWA
D RIVER MUDE L
5)
HALL ROAD
YL
O OCC M3
AM
NL A6003
T A6 A43 (A3
ANE
AN M1
TREE
RIVER AVON SS
PAR
CORBY A350 BYPA
ROA
E DS URCH HIGHCLI
ISTCH
J9
OA
N IX
D
BR A354 PH OE J3
J4 5) CHR (A337
) HIGH
M27 (A3 CLIFF
A427 KING STREET A1(M) WEST GLOBE PARK
M27
E
STREET A605 SOUTHAMPTON
AY
CHRISTCHURCH PUREW RD
THE RUNW
CHAR
L A35 ELL CR
NE
ORD
WLAN D S
A6116 O
ERF
LOY
A31 ROAD
D
LES STR
SS RD
RINGWOOD DON A337 SOM
UR R
STREET
DS R
M6 COTTINGHAM ROAD WEL
RD
J9 KETTERING H ST HIGH
COW GREEN
A14 PUREWELL
COMMERC
HIG
STO
HALIFAX
D
Y
C
A350 LE ST WA
EET
CHUR
HS
STAT
A14
CAST
LISTER LANE MU D
A338 NEW FOREST LAN
T
DEF VIL
STA
A43
ANE
CORBY A31
ION
A14 OR HA
IAL STREE
CHRISTCHURCH
ELIZ A B E T
A341 IP DL
NP
G EA35 E
BURE L
AN D
A427
RD
A508 A3049 DD
A629 A45 A35
I NGA337
TON ROA
E
E
FO A338 D
N
T
CHRISTCHURCH
HS
POOLE FOR
RY LA
U N M1 RIVER STOUR
MUDE D
T
TAIN CORBYBOURNEMOUTH
STR EET A1 ROA D
BER
E
J9 HORTON STR HALIFAX OAKLEY
T
NORTHAMPTON
EET
R CH S
CHU
J9
Location Situation Accommodation
The Northamptonshire Borough and town of Corby is a significant The property is situated approximately a mile north of Corby town centre
Floor/Unit Sq M GIA Sq ft GIA
manufacturing hub within the East Midlands. London lies on a prominent corner site, being the first phase of the 23 acre ‘Manton
approximately 85 miles to the south with Leicester, Peterborough and Park’ scheme. This is a mixed-use development being promoted by Ground Floor Retail 1,880 20,233
Northampton being approximately 25 miles equidistant from Corby. Frenbury Developments for B1, B2, B8, Trade and ‘Roadside’ uses, which Trading Mezzanine & Ancillary* 465 5,000
In addition, Birmingham lies some 54 miles to the west. has a an extensive frontage to Cockerell Rd. Immediately adjacent to
The town benefits from excellent road communications being at the the unit is an Asda superstore which shares road access off the A6086 TOTAL 2,344 25,233
junction of the A43 and A14 trunk roads. These provide direct access Phoenix Parkway with the adjoining Phoenix Retail Park whose tenants
include Next, Boots, Pets at Home, The Range, McDonalds, Sports Direct The site area is approximately 2.0 acres (0.81 hectares) with site coverage
to the national motorway network connecting with the M1/M6 and
and Halfords. Together these form the preeminent out-of-town retail of 23%.
the A1(M). The recent construction of a new mainline station has given
destination within Corby. The greater Phoenix Parkway area also hosts
Corby a fast and frequent rail service to St Pancras International, with
a fastest journey time of 1 hour 10 minutes, making Corby and the numerous retail and ‘trade’ operations such as B&M, Jewson, City Electrical Tenure Freehold
Factors, Howdens and Tile Village. Car showroom occupiers include Ford,
surrounding Northamptonshire area a viable option for commuters.
Mazda, Vauxhall Motors and Fiat dealerships
Planning
The property has consent for “the sale of non-food and bulky-goods
Catchment and Demographics comprising; DIY goods and decorators supplies; building trade goods;
Corby’s resident population has grown rapidly over the past decade and
Description garden landscaping materials and for no other purpose within Class
is estimated to be 66,900 (ONS: 2015). The Office for National Statistics The development will comprise a Wickes retail warehouse in their new A1 of the Use Classes Order. The sales of goods falling outside of the
has identified Corby as the fastest-growing borough outside London trading format. It is currently under construction and is of of steel portal permitted range may be sold where they form a minor and ancillary part
and the population is expected to have grown by circa 16.7% to 76,400 frame construction with a profiled metal cladding roof and external of the store’s operation”.
by 2024. The Council is actively promoting regeneration through elevations. The unit has a minimum eaves height to underside of haunch
population growth and aim to have 100,000 residents by 2030. Plans of 7m with internal block walls to a height of 3.2m. The unit will have Tenancy
exist to build circa 16,800 new homes in Corby by 2021. a mezzanine floor installed as part of the Tenant’s fit-out works. It will Wickes Building Supplies Ltd will take a 15 year leaseback on the
provide bathroom and kitchen display areas as well as ancillary staff property, following Practical Completion of building works at an initial
Corby’s historic manufacturing bias is reflected in its socio-demographic accommodation. rental of £193,500 pa. The lease will be in the Vendor’s standard format
profile with 40.6% of employees within socio group 8 to 9 (UK – 17.2%) on FRI terms with 5 yearly, upwards only rent reviews to Market Value
To the rear of the unit is a concrete surfaced service yard and outdoor
and 31% in socio group 1 to 3 (UK – 44%). Whilst Tata Steel’s future in and incorporating a Tenant’s Option to Break at the tenth year, subject to
projects centre, set within a secure compound and accessed off Courier
Corby remains in the balance, it has diversified its employment base with a two year rental penalty.
Rd. To the front of the unit is an extensive car-park and customer
other key employers including Avon Cosmetics, Joules, Roquette and
entrance lobby, separately accessed off Courier Road. It will have parking
Weetabix. The town’s strong road links have also attracted a number of
spaces for 77 vehicles; will be laid to tarmac and concrete block with EPC
logistics operators including Argos, Ceva and Norbert Dentressangle. An EPC will be provided following Practical Completion. The property
covered trolley and cycle bays. Practical Completion is scheduled for
15th August 2016 and the store opening for 5th October 2016. has been designed to satisfy BREAM ‘Very Good’.
NB The property will be measured following Practical Completion of the building contract. VAT The property will be elected for VAT.
*The trading mezzanine and ancillary accommodation is to be regarded as Tenant’s fit-out works and is to be disregarded at rent review or lease renewalSweet Briar Park, Hellesdon Road, Norwich, NR6 5AP
NORWICH REE A303
AIRPORT A36 ANDOVER
A629 PHA
MR
A58 A1067 OAD
A338 A34
A303
NORTH
ROYAL NORWICH A36
GRANTHAM
DR
AYLS
GOLF CLUB J9
AY
GATE
LOW
A52 ROA D BURTON
TO
A148 A140 SALISBURY
DARY WINCHESTER
HAM
N
Y
WA BOUN
ROA
WINDINA17
HIG
G ROA
OCK A1 EET
MU
D OA
H
STR
ROA
ORAN
D
RD
R
D
LCT
KING’S LYNN DE NORWICH M3 ST
WA
D
A47
UR
URE
GE ST
STON
A47 A350 NORWICH DH
LYN
HALL ROAD
A134 A1065 RIVER MUDE
5)
YL
T A354 DRAY
ROAD
TREE A140 A146 J4
(A3
ANE
DS PETERBOROUGH T ON M27
J3 M27
RIVER AVON
CH BYP
ASS
OA A11
FAI
BR
ROA A1024 CHUR HIGHCLIFFE
R
D RIST
RM
SWEET BRIA
A1(M) THETFORD SOUTHAMPTON H (A337
T A143 5) C
KING STREEA1066 )
ILE
HELLESDON HALL ROAD A35 (A3 HIGH
CLIFF
A1067
R
E RD
D
A12
OAD
RINGWOOD A31
CHAR
A14
AY
CHRISTCHURCH PUREW RD
THE RUNW
A140 ELL CR
NE
A337
NR
ORD
WLAN D S
SD O O
LES STR
HELLE A350 ERF
D
SS RD
A11 BURY ST A134 H ST A14 A1024 SOM
UR R
SLOUGHBOTTOM
COW GREEN
COMMERC
NEW FOREST
PARKA338
RD
A1 HALIFAX EDMUNDS A140 A31 PUREWELL
C
HIG
EET
STO
CHUR
NE A341 AY
LE ST
J9 IPSWICH DW
HS
A35
A3049 CAST MU LAN
T
A337 HEIGHA DEF VIL
STA
IAL STREE
A131
ANE
A35 OR
M1 RIVER WENSUM M40 CHRISTCHURCH IP DL HA
NP
A338 CHRISTCHURCH DE
MS
BURE L
A629 M11 POOLE RE AN
REET
COLCHESTER RO A D ET
T
A12 BOURNEMOUTH
WORKS
E
A1(M) A1074
E
FO
N
R
T
A130
WATE
NELSON ST
DEREHAM R
RY LA
UN OAD
TAIN FOR
MUDE D
RIVER STOUR
STR J21 STREET
BER
E J23 N
M25HORTOJ27 A1024
HALIFAX
A1074
T
EET
CH S
J28
R
CHU
Location Accommodation
The historic city of Norwich is the principal commercial and junction of Hellesdon Hall Road and Sweet Briar Road, the property
is within one of Norwich’s key out-of-town retail and trade clusters. Floor/Unit Sq M GIA Sq ft GIA
administrative centre for Norfolk and East Anglia. It lies 118 miles
northeast of London, 64 miles east of Cambridge and 45 miles north Immediately to the north is the Sweet Briar Retail Park whose tenants Ground Floor Trading 2,323 25,000
of Ipswich. In addition to being a retail and services hub for a large include M&S, Costa, PC World, Jolleys and Carpetright. In addition,
IKEA recently opened a 20,000 sqft unit as their first ‘Order & Collection TOTAL 2,323 25,000
catchment area, Norwich is a key university city with some 30,000
students. It has also grown into a centre of excellence for research and Point’ in the UK. Other occupiers within a two mile radius include Asda,
B&Q, McDonalds, Howdens and Virgin Active, as well as a large number Total site area is approximately 2.53 acres (1.02 hectares) with site
advanced engineering, as well as having a diverse manufacturing base.
of trade and car showroom operators. coverage of 23%.
The city benefits from excellent road and rail communications. The
A11 provides dual carriageway links to the M11 and national motorway The site comprises the initial phase of Sweet Briar Park, a multi-use NB The property will be measured following Practical Completion of the
network at Cambridge, whilst the A140 eventually links to the A12 trunk building contract.
development of 22 acres being promoted by Dencora Developments.
road to London at Ipswich. Frequent rail services to London Liverpool To the east is the extensive Sweet Briar Road Industrial Estate and to
St have a fastest journey time of 1 hour 40 minutes. In addition, the south the 114 acres Briar Chemicals plant.
Tenure Freehold
Norwich International Airport is c. 2miles to the north of the property.
Description Planning
Catchment and Demographics The development will comprise a Wickes retail warehouse in their new The property has consent for “the sale of DIY, home improvement and
As the dominant commercial centre within Norfolk and East Anglia, trading format and will be accessed via an estate road to be constructed building materials/items and as a showroom for the sale of kitchens
Norwich has an estimated resident population of 135,000 (2015) with by Dencora. The unit is being built and will be of steel portal frame and bathrooms”.
c. 382,000 in the ‘Greater Norwich’ area (2011 – census). The catchment construction with a profiled metal cladding roof and external elevations.
area population is relatively affluent (56% - ABC1’s) and young, with an The unit will have a minimum eaves height to underside of haunch of Tenancy
average age of 37. 7m with external brickwork to 2.55m and internal block walls to a height Wickes Building Supplies Ltd will take a 15 year leaseback on the
The total catchment population is estimated at 1.1million and the of 3.2m. In addition to general trading, the accommodation will provide property, following Practical Completion of building works at an initial
city was ranked 10th in the UK’s retail centres. It is a popular tourist ‘Click & Collect’, bathroom and kitchen display areas, as well as ancillary rental of £357,750 pa. The lease will be in the Vendor’s standard format
destination with visitor numbers estimated at 5 million pa and total staff facilities.
on FRI terms with 5 yearly, upwards only rent reviews to Market Value
annual retail spend of c. £2.2bn (CACI 2011). The ‘City Deal’ for A concrete surfaced service yard and outdoor projects centre will and incorporating a Tenant’s Option to Break at the tenth year, subject
Greater Norwich is targeting significant investment in infrastructure, be constructed to the side and rear of the unit, set within a secure to a two year rental penalty.
including highways and promoting the construction of 37,000 new compound and accessed off the service road being constructed by
homes by 2026. Dencora. To the front of the unit will be a separately accessed extensive
car-park leading to the customer entrance lobby. The car-park will have
EPC
Situation parking spaces for 82 vehicles, which will be laid to tarmac and block An EPC will be provided following Practical Completion.
The property is situated approximately 2 miles to the north west of paving with covered trolley and cycle bays. The property has been designed to satisfy BREAM ‘Very Good’.
the city centre and has a prominent frontage to the A140, which serves Practical Completion is scheduled for 26th September 2016 and the store
as the Outer Ring Road for Norwich. Occupying a corner site at the opening for 12th October 2016. VAT The property will be elected for VAT.Unit 25 Castlefields Industrial Estate, Wylds Road, Bridgwater, TA6 4DH
M5
A303
A38 A36 ANDOVER
A629 A37
A58 A338 A34
A303
A36
NORTH
CHEDDAR
J9
SALISBURY BURTON
GATE
RIVER PARRETT WINCHESTER
AY A38
WINDING R
OAD EET D
MU
STR WESTERN WAY TR
ORAN
M3 RS
LCT
DE J23
AD
WA HU
STON
BRIDGWATER A350
URE
S RO
A361 D
GE ST
A39 A38 LYN
CHIL
RIVER MUDE
5)
HALL ROAD
YL
LD
Y
WY THA354
WA
J4
A37 A39 (A3
ANE
T PASS
TON
J3 RIVER AVON
TREE ED M27 RCH BY
ERG
DS M27
FAI
R OVE
OA
SYM TCHU HIGHCLIFFE
STREE
IS
RM
MB
R ON R
ROAD
SOUTHAMPTON H (A337
B SW 5) C )
ILE
HO
A303 A A35 (A3 HIGH
KING STREET CLIFF
T
R
E RD
D
AD
BRISTOL
Y
J25
RINGWOOD TH RO A31
EAS T QUAY
AY
CHRISTCHURCH PUREW RD
PARKWAY
THE RUNW
CHAR
BA ELL CR
NE
A337
ORD
COLLEGE WAY
WLAN D S
A358 A37 O
YEOVIL A350 ERF
D
LES STR
SS RD
SOM
UR R
A338 NEW FOREST
RD
HA303
ST
COW GREEN
THE CLINK PUREWELL
COMMERC
A31
HIG
STO
HALIFAX A341 Y
C
LE ST WA
EET
A361
CHUR
HS
A35
CAST
J27 MU D
A3049 LAN
T
DEF VIL
STA
A337
ANE
A35 OR HA
WE
L
IAL STREE
A30 EE T A338 L CHRISTCHURCH IP DL
NP
E
BURE L
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Location Accommodation
Bridgwater is an historic and established commercial centre located Should this project proceed then it will be the largest construction project Floor/Unit Sq M GIA Sq ft GIA
approximately 38 miles southwest of Bristol and 44 miles north of Exeter. in Europe. It will bring significant and long lasting economic benefits to
Taunton lies some 12 miles to the south and Weston-Super-Mare, 22 miles Bridgwater and the surrounding area. Further benefits will be derived from Ground Floor Trading 2,376 25,574
to the north. London is approximately 154 miles to the east. the construction of the infrastructure and support services associated with 1st Floor Ancillary 78 838
The town benefits from excellent transport connections throughout the project. Construction of the power station is expected to take 10 years
TOTAL 2,454 26,412
the region, being immediately served by junctions 23 and 24 of the M5 at a cost of £18 billion creating some 25,000
Motorway. The A39 and A361 trunk roads provide immediate access to an Total site area is approximately 2.07 acres (0.84 hectares) with site
extensive hinterland of north Devon and Somerset. Bridgwater has good Situation coverage of 28%.
rail connections via frequent services to Taunton or Bristol Temple Meads, The property occupies a prominent site at the junction of Wylds Road and
providing access to the National Railway Network. The fastest journey time
to London is approximately 2 hours 35 minutes. The town also retains an
The Drove, approximately 1 mile north of Bridgwater town centre. The site Tenure Freehold
is an established out of town retail and trade location laying approximately
operational port facility. 0.25 miles north of the Bridgwater and Clink Retail Parks. The tenants there
include Lidl, Next, Argos, Halfords and Pets At Home. Sainsburys and Asda
Planning
Catchment and Demographics are both within half a mile of the property. Trade occupiers within the The property shall be used “for the sale of DIY products and garden
Bridgwater lies at the heart of Sedgemoor District Council which has a immediate area include City Electrical Factors, Jewson and Screwfix. products and for no other retail purposes (including any other purposes in
resident population of approximately 119,000. This is boosted by some Class A1)”.
620,000 staying visitors during the holiday season (2015–Sedgemoor Description
DC). Sedgemoor’s resident population is projected to increase by 22% The property comprises a comprehensively refurbished and remodelled
Tenancy
to 144,700 by 2039. Bridgwater’s resident population is estimated at Wickes Building Supplies Ltd will take a 15 year leaseback on the
retail warehouse unit. Works included the recladding of the principal
44,000 (2016–Sedgemoor DC estimate) and has an immediate catchment property at an initial rental of £281,250 pa. The lease will be in the Vendor’s
elevations and reroofing of the property with an insulated profiled steel
population of approximately 76,600 (2016 projection – Experian). standard format on FRI terms with 5 yearly, upwards only rent reviews to
panelling system. Internally, the unit has a height to underside of haunch
Whilst the resident population for Bridgwater and the immediate area is Market Value.and incorporating a Tenant’s Option to Break at the tenth
of 4.6m with internal block work to a height of 2.27m. Ground and first
more mature than the national average, the town has a broad economic year, subject to a two year rental penalty.
floor staff amenities, canteen and administrative offices have also been
employment base. The town has an established logistics presence with constructed. Practical Completion was achieved in February 2016 with the
occupiers such as Morrisons, Asda and the NHS all being attracted by store opening for trade in April. It now constitutes the only operational EPC
the proximity of the M5 Motorway. There is a broad manufacturing dedicated DIY retail warehouse within the town. The property has been rated (B-31). A copy of the Energy Performance
base with occupiers including Refresco Gerber UK Ltd and Elecsis Externally, the property benefits from extensive asphalt and concrete car Certificate is available upon request.
Swichgear Ltd. jobs during that period. parking for a total of 95 vehicles (1 per 278 sq ft GIA). In addition, there
EDF are expected to make a final decision on the proposed construction are a secure outdoor project centre and a delivery compound which are VAT
of the Hinkley Point Nuclear Reactor in September 2016. accessed separately. Both are gated and have 4m high security fences. The property will be elected for VAT.You can also read
