CLUMBER STREET NG1 3GB - 30/32 JD SPORTS NOTTINGHAM - PRIME, FREEHOLD, RETAIL INVESTMENT - Green & Partners
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30/32 CLUMBER STREET NG1 3GB JD SPORTS NOTTINGHAM PRIME, FREEHOLD, RETAIL INVESTMENT
Investment Summary
- N
ottingham is the premier commercial and - L
et to the strong covenant of We are instructed to seek offers in excess of
administrative centre for the East Midlands. JD Sports Fashion Plc until March 2024 £3,830,000 (Three Million, Eight Hundred
(4.4 years unexpired).
- Prime location situated on the busiest and Thirty Thousand Pounds) Subject to
thoroughfare between intu’s Victoria - C
urrent rent of £255,000 per annum Contract and Exclusive of VAT, reflecting a Net
Shopping Centre and intu’s Broadmarsh exclusive (£170 Zone A). Initial Yield of 6.25% assuming graduated
Centre. purchasers costs of 6.53%
- M
arch 2019 rent review outstanding and
- C
lumber Street receives a footfall of circa reversionary.
20 million per annum.
- Freehold.
- S
ubstantial prominent well configured retail
unit comprising 5,812 sq ft (540.0 sq m).
30/32 CLUMBER STREET, NOTTINGHAM NG1 3GB 2
A1
CHESTER M6 A53 SKEGNES
A523 M1 MANSFIELD
A423 A534 NEWARK-ON-TRENT
Location STOKE-ON-TRENT A52
A385 A46
A515 NOTTINGHAM
NOTTINGHAM
DERBY
Nottingham is a major regional commercial and the administrative centre for the East Midlands.
SNOWDONIA
A453
Located 30 miles (48km) north of Leicester, 51 miles (82km) north east of Birmingham and 110
NATIONAL PARK
A50
BURTON EAST MIDLANDS
miles (177km) north of London. The city is situated at the intersection of the A60 and A52 giving a A515
UPON TRENT
A46 MELTON
MOWBRAY
direct link to the M1. M6
A38 M1
M54 M42
Nottingham Train Station provides regular services to London St Pancras (1 hour 40 minutes), M6 Toll
LEICESTER
Birmingham (1 hour 14 minutes) and Leicester (27 minutes). A49 WOLVERHAMTON
PETERBOROUGH
M69
M42 CORBY
A458
East Midlands Airport is located 13 miles (21km) to the south west of the city centre. BIRMINGHAM
M6
A1(M)
BIRMINGHAM
COVENTRY KETTERING A141
A14
KIDDERMINSTER RUGBY
A14
M42
A49 A46 A423 M54 A508
M5
Demographics
A14
A1
NORTHAMPTON A6
L
WORCESTER
NE
BEDFORD
The city offers a primary catchment population in the order of 905,000 persons and an estimated STRATFORD-UPON-AVON A5
AN
M40
M1
CH
A46 M11
shopping population of 572,000.
S
E’
A429
RG
EO
A1
HEREFORD MILTON A505
G
A44
ST
KEYNES
Nottingham has a relatively high proportion of young adults aged 15-24. In contrast, the retired M50
A6
A5
aged 65 and over are moderately under-represented. The high proportion of young A40
adults inA470
part A44 M40 LUTON
CHELTENHAM LONDON LUTON
reflects a sizeable local student population. The city is home to circa 62,000 students accross The
A40
BRECON BEACONS
GLOUCESTER A429 A41 A1 (M) A10
LONDON OXFORD
CARMARTHEN NATIONAL PARK
University of Nottingham and Nottingham Trent University, generating A48 A483 an estimated
A470
ecomonic M5 A40
AYLESBURY ST
ALBANS A414
impact across the UK of £1.1bn per annum. OXFORD
CIRENCESTER
PONYTPOOL
M40 M25
A465 HIGH M1
LLANELLI A420
WYCOMBE
NEATH A449
WATFORD
SWANSEA M48
NOTTINGHAM BENEFITS FROM THE LARGEST
PONTYPRIDD M4
SWINDON STRATFORD INTL
M4 SLOUGH
SWANSEA A343
ECONOMY IN THE EAST MIDLANDS M4 LONDON CITY
M4
BRIDGEND READING
CARDIFF HEATHROW
LONDON
WORTH £12.1 BILLION PA.
BRACKNELL
M5 A38 A322
BATH A350 M20
CARDIFF
BRISTOL A339 A33
BRISTOL CHANNEL WESTON-SUPER-MARE A36
M3
LONDON BIGGIN HILL
A343
A3
A37 M25
A338 BASINGSTOKE A24
ANDOVER FARNHAM GUILDFORD M23
1 OF 8 62,000
A39 A361 A303
M5 A36 GATWICK A22
MINEHEAD A303 M3 ALTON
GLASTONBURY A3 CRAWLEY
A31
EXMOOR A22
BRIDGE WATER A361 A26
NATIONAL PARK SALISBURY
THE NO.1 RETAIL
STUDENTS
A37
WINCHESTER A23
BARNSTAPLE
DESTINATION
DESIGNATED
PETERSFIELD A272 UCKFIELD
TAUNTON A350 A36 A272
in the
SOUTHAMPTON SOUTH DOWNS
A354
ACROSS TWO WELLINGTON YEOVIL
CORE CITIES
NATIONAL PARK
A338 SOUTHAMPTON LEWES
M27
East Midlands UNIVERSITIES NEW FOREST
NATIONAL PARK
A3 (M)
CHICHESTER
NEWHAVEN
SHOREHAM BRIGHTON
M5 BROCKENHURST PORTSMOUTH
A377 A354 NEWHAVEN
A338 PORTSMOUTH
£500 MILLION
A386
A30 BOURNEMOUTH
EXETER EXETER DORCHESTER POOLE
ISLE OF WIGHT ENGLISH CHANNEL
LAUNCESTON WEYMOUTH
A386 EXMOUTH
DARTMOOR A380
NATIONAL PARK
INVESTED TO EXTEND TRAM NETWORK A388 A38
TORQUAY
A385
NEWQUAY
PLYMOUTH
30/32 CLUMBER STREET, NOTTINGHAM NG1 3GB DARTMOUTH
3
PLYMOUTH
N 30/32 CLUMBER STREET, NOTTINGHAM NG1 3GB Goad Plan for indicative purposes only. Title plans are available on request. 4
Situation
The property occupies a 100% prime position on Clumber Street
which is Nottingham’s prime Retail pitch benefitting from
footfall in excess of 19.8 million people per annum. Clumber
Street is Nottingham’s principle connecting street linking
intu Victoria Centre to Bridlesmith Gate and intu Broadmarsh
respectively.
Retailing in Nottingham
Nottingham City centre is one of the UK’s foremost retail
destinations and ranks 6th on the PMA retail score.
The prime retailing pitch is considered to be focused on
Clumber Street (where the subject property is located) and
within the lower mall of intu’s Victoria Shopping Centre, which is
anchored by John Lewis and House of Fraser and includes other
well-known operators such as Urban Outfitters, Boots, Tesco,
TopShop/TopMan, WH Smith, Next.
Retailing is concentrated along a linear axis anchored by intu’s
Broadmarsh Shopping Centre in the South running along
the main thoroughfares of Lister Gate, Bridlesmith Gate and
Clumber Street, to the intu’s Victoria Shopping Centre in the
North.
Broadmarsh Redevelopment
On 5th January 2019, intu commenced development of their
Broadmarsh site, with practical completion estimated for
summer 2021. Since development started they have exchanged
lettings to The Light cinema and Hollywood Bowl as well as
a number of other leisure and food and beverage operators
currently in solicitor’s hands. intu Broadmarsh will anchor
the southern end of Nottingham, complimenting their second
scheme, intu Victoria Centre and will create an urban space for
leisure, F&B and every day retail. It is estimated that £255m will
be invested intu Broadmarsh over the course of the next 3 years
including £120m on the scheme development, £60m on the City
College Hub and £45m on the Broadmarsh car park, library, bus
station and public realm.
CGI of intu Broadmarsh
30/32 CLUMBER STREET, NOTTINGHAM NG1 3GB 5
Accommodation Covenant Income Tenure
The property comprises the following areas, measured on a net JD Group was established in 1981 with a single store in the Current annual income
Freehold.
internal area (NIA) basis. north west of England. The group now operate from 2,400 of just £255,000 per
stores across a number of trading fascia. For the year ending annum.
Floor Sq ft Sq M February 2019 the retailer recorded the following results:
GF Total 2,370 220.2
Company Fiscal D&B Sales Profit Tangible
ITZA 1,267 units Tenant Number Year ending Rating Turnover Before Taxes Net Worth
FF Sales 1,979 183.9
JD Sports Fashion Plc Ltd 01888425 2nd February 2019 5A1 £4,717,800,000 £339,900,000 £614,500,000
SF Ancillary 1,463 135.9
Total 5,812 540.0
Tenancy REVENUE GROWTH TO EBITDA (BEFORE
The entire property is secured to JD Sports Fashion Plc Ltd t/a £4.7 BILLION EXCEPTIONAL ITEMS)
ROSE 26.8% TO
6% GROWTH
£488M
JD Sports on a 10 year full repairing and insuring lease from A 49.2% INCREASE ON THE IN LIKE FOR LIKE SALES
25th March 2014 and expiring 24 March 2024 (4.4 years PREVIOUS YEAR (GLOBALLY)
unexpired). The rent review dated 25 March 2019 is outstanding
and the tenant did not exercise their break option in
March 2019.
30/32 CLUMBER STREET, NOTTINGHAM NG1 3GB 6
VAT EPC
The property has been elected An EPC is available on request.
for VAT and will be treated as
a TOGC.
Anti-Money Laundering
In order to comply with anti-money laundering legislation,
the preferred purchaser will be required to provide certain
identification documents. The required documents will be
confirmed to and requested from the successful purchaser
at the relevant time.
Proposal
We are instructed to seek offers in excess of £3,830,000
(Three Million, Eight Hundred and Thirty Thousand
Pounds) Subject to Contract and Exclusive of VAT,
reflecting a Net Initial Yield of 6.25% assuming graduated
purchasers costs of 6.53%
For further information or to arrange inspection please contact:
David Freeman
T: 020 7659 4830
david.freeman@greenpartners.co.uk
Ed Smith
T: 020 7659 4831
ed.smith@greenpartners.co.uk
Patrick Over
T: 020 7659 4832
patrick.over@greenpartners.co.uk 2 Gee’s Court
Freddie King St Christophers Place
T: 020 7659 4848 London W1U 1JA
freddie.king@greenpartners.co.uk T: +44 (0)20 7659 4848
Misrepresentation: Green & Partners LLP, these particulars do not constitute an offer or
contract. They are intended as a guide to prospective purchasers. All reasonable care has
been taken in the preparation of these particulars but their accuracy is not guaranteed. The
purchaser should satisfy himself and as to the correctness of these details. Neither the agents
nor the vendors or lessors are to be or become under any liability or claim in respect of these
particulars. These particulars are supplied on the understanding that all negotiations are
conducted through this office.
Design: Barbican Studio: www.barbicanstudio.com I +44 (0)20 7634 9573 I November 2019
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