Argos, Back Lane, Newtown, SY16 2NH Well Let Retail Investment - Realla
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Argos, Back Lane, Newtown, SY16 2NH Well Let Retail Investment
Argos, Back Lane, Newtown Executive Summary – Modern purpose built retail unit – Busy market town – Prominent position immediately opposite the bus terminal and the town’s main car park – Let to Argos Ltd by way of a 20 year lease expiring 16 July 2020 – Rent passing £98,500 per annum – 9,843 sq ft – Open A1 planning consent – Offers sought in excess of £925,000 (Nine Hundred and Twenty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10%, after allowing for purchasers costs.
A495
Argos, Back Lane, Newtown
A41
A49
A515
Location A5
A53
A483 M6
Shrewsbury A41
A458
A458
M54
A458
A442
A470
A453
Newtown is the largest
A483
Newtown
town in the county of A470
A442
A458
A449
Birmingham
Powys, Wales. A456
A44
A40
Kidderminster
A483
It is a busy market town and lies approximately 33 A470 dR
d A448
Milfor
miles south west of Shrewsbury, 43 miles east of C am
A456
bria M40
Aberystwyth and 52 miles north west of Hereford. nW
ay
The town has a resident population of 11,357 A44
A49 A449
persons (2011 census).
A449 M5
Bro
Ca
The town is served by the A483, which connects A44
A44
Worcester
Argos,
m
A422
br
St
A483 A46
Chester and Wrexham in the north with Swansea
ad
Cam
ian
A470 y
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in the south.
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Newtown
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There is a bus terminal adjacent to the town’s A49 ar
ck
A438
St P
Way
main surface car park, immediately opposite the gh
Lan
Hi A449
Argos Unit in the centre of the town. In addition, Hereford
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t
A438 Sh
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Newtown Railway Station lies on the Shrewsbury or
tb 3
ke
d A48
rid
to Aberystwyth line and, via Shrewsbury, connects Pool R
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ar
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t
directly with Birmingham New Street. Ne
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Due to the towns location, in the very heart of mid St
Wales, it benefits from a captive catchment with
the nearest alternative retail offer approximately
30 minutes’ drive to the north, in Welshpool.
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Argos, Back Lane, Newtown
Situation
The property occupies a prominent
position adjacent to the Bear Lanes
Shopping Centre.
It is situated on the corner of Back Lane and
Wesley Street, within a 2 minutes’ walk of
Broad Street and High Street.
The town’s bus terminal and main surface car
park lie immediately opposite the property and
are accessed via Back Lane.
The town centre is anchored by the Bear Lanes
Shopping Centre which is home to a variety of
national and regional occupiers. Nearby retailers
include New Look, Topshop, Carphone Warehouse,
Clarks, WH Smith, Lloyds, Natwest, Boots and
HSBC.
N
Argos, Back Lane, Newtown
Description and Accommodation
Description Accommodation
The property comprises a modern purpose built We have measured the property in accordance
ground floor retail unit providing retail sales with the RICS Code of Measuring Practice
accommodation with ancillary storage and staff (6th Edition) and can confirm that it has an
accommodation. approximate Gross Internal Area of 9,843 sq ft
(914.45 m²).
To the rear of the property is a small loading yard
which incorporates approximately 6 staff car
parking spaces.
ne
Back La
Goods in
Parking
Gross Internal Area
9,843 sq ft (914.45 m²)
Parking
Parking
Parking
Parking
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ai
n
En
Parking
tr
an
c e
Argos, Back Lane, Newtown
Tenancy and Covenant
Tenancy Covenant
The property was let upon practical completion to Argos are one of the UK’s leading retailers. For the last three accounting periods Argos Ltd have filled the following:
Argos Ltd by way of a 20 year lease from 17 July
2000, expiring 16 July 2020. Specialising in catalogue and online retail, they offer Year ending 28/02/2015 01/03/2014 02/03/2013
in excess of 50,000 products through various retail £’000’s £’000’s £’000’s
The passing rent is £98,500 per annum, reflecting channels including the Argos website, mobile app
£10.05 per sq ft. and its 750 store network. Turnover 3,919,176 3,872,446 3,752,634
On average the company processes approximately Pre-Tax Profits 97,146 43,992 75,462
120 million customer transactions per year through
its stores, and over 9 million website and app visits. Shareholders Funds 1,423,179 1,362,042 1,389,389
Argos, Back Lane, Newtown Planning, Tenure, Vat and EPC Planning The property benefits from Open A1 planning consent. Tenure Freehold. VAT The property has been elected for VAT. As such VAT will be payable on the purchase price unless the sale can be treated as a Transfer of a Going Concern. EPC A copy of the EPC report is available upon request.
Argos, Back Lane, Newtown Proposal Offers are sought in excess of £925,000 (Nine Hundred and Twenty Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 10%, after allowing for purchasers costs. Further Information For further information please contact: Martin Hamer Alun Jones 0161 833 9991 0161 833 9991 07792 00 44 67 07710 08 17 96 martin@edwardsandco.com alun@edwardsandco.com MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Edwards & Co nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents ad prices quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Designed by Studio eNaR – studioenar.co.uk
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