DFS SWANSEA NEATH ROAD, MORRISTON, SA6 8ER - LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY - Allsop
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DFS SWANSEA NEATH ROAD, MORRISTON, SA6 8ER LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY
INVESTMENT CONSIDERATIONS
n Freehold n Current rent of £561,249 per annum n Offers sought in excess of £5,850,000 (Five Million
n Prominently located close to Junction 45 of the M4 n Unexpired lease term of over 12.9 years Eight Hundred and Fifty Thousand Pounds) subject
to contract and exclusive of VAT. This reflects an
n Purpose built unit comprising 22,803 sq ft n The only DFS Store serving West Wales
attractive net initial yield of 9.00%, after allowing for
n Let to the D&B rated 5A1 covenant of DFS Trading Limited with the nearest store being located in Cardiff
purchaser’s costs of 6.63%.
DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY
Swansea Marina
A438
Cardigan
M4
Jct. 47 A487 A470
LOCATION A483
A48 Pembrokeshire
Coast
The city of Swansea is the second largest city in Wales National Park A438
and is located on the northern shores of the Bristol Clase
M4 A40 Brecon A479
Channel. Swansea is located approximately 66km (41 Morriston St Davids
A40 A40 A465
al Park
LLANSAMLET
miles) north west of Cardiff, 103 km (64 miles) west of Llanbody
Brecon Beacons Nation
A40
Camathen
Newport and 129 km (80 miles) west across the River A40
A483 Abergavenny
067
Severn from Bristol. A40
A4
A48
A465
3
A477 A470
60
Swansea has good road and rail communications with Ferryside
B4
Winch Wen Merthyr
B44 89
Plasmarl
the M4 motorway passing 4 miles (6.5km) to the north, Tydfil
NANTONGWAY
Penlan
providing access to Cardiff, Bristol and London to the M4 A465 A449
7
Llanelli
21
Tenby
A4
Liberty Stadium
east and Llanelli to the west. Bon-y-maen
Pembroke
Dock Gorseinon
Neath
Manselton SWANSEA
Swansea railway station provides regular and direct 20 mins 30 mins 40 mins 1 hour
Cwmbwria Llangenneth Pontypridd
services to Cardiff, Newport and Bristol with fastest
B4603
Port Talbot
A4 The Mumbles A470 Caerphilly
8
journey times of 52 minutes, 75 minutes and 95 minutes 3
respectively. The railway station provides regular direct M4 A48 A48(M)
services to London Paddington with a fastest journey CARDIFF P
SWANSEA St Thomas A4232
time of approximately 3 hours 5 minutes. Port Tennant
Penarth
SWANSEA M
A483 Cardiff
A41
18 Barry
67
Weston-super-Mare
A40
DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY
DFS NEATH R OAD, MORR ISTON, SWANSE A, SA6 8ER
11
35
15
17
19
22
25
47
65
71
55
SITUATION ACCOMMODATION
63
The property is prominently situated on the western side of Neath Road Description Sq M Sq Ft
57
(A4067), approximately 0.6 miles south of the M4 (junction 45) and
Retail Unit 2,118.47 22,803
Playground
approximately 5.5 miles north of Swansea city centre. The A4067 is the
principle access from Swansea City Centre to the M4 Motorway and the
store’s location less than one mile from the M4 provides the store with DESCRIPTION
excellent access to the wider region.
The property comprises a modern style detached retail warehouse of portal
frame construction. Internally the property has been fitted out as a furniture
CATCHMENT AND DEMOGRAPHICS showroom with suspended ceilings, lined walls and predominantly carpet tile
The primary retail catchment area for Swansea is 553,000 with an estimated floor coverings to public areas.
shopping population of 273,000 (PROMIS). The retail store has three loading bays to the rear of the warehouse
There were 4.56 million visitors to Swansea in 2015 (Source: Swansea and includes approximately 87 car parking spaces and a service yard for
City Council), with an estimated expenditure of around £400 million. It is deliveries.
34
11.3m estimated that around 5,700 jobs are supported by tourism in Swansea. The property has a site area of approximately 0.73 acres (0.3 hectares).
22
Salem
Gospel Hall
67
A 40
2
Ivy Cottages
© Crown Copyright, ES 100004106. For identification purposes only.
1
45
DFS SWANSEA LONG INCOME RETAIL WAREHOUSE INVESTMENT OPPORTUNITY
TENANCY COVENANT PLANNING
The property is let to DFS Trading Limited for Since opening its first store in 1969, DFS has grown DFS Trading Limited - Dun & Bradstreet 5A1 The unit has planning permission
a term of 25 years from 24 March 2005 to and to 105 stores in the UK, Republic of Ireland and the for the sale of bulky goods.
including 23 March 2030. The rent is £561,249 Netherlands. 01 August 2015 02 August 2014 27 July 2013
per annum, reflecting £24.61 per sq ft. (£000’s) (£000’s) (£000’s)
DFS Trading Limited (Company Number: 01735950) TENURE
There are further open market reviews on 24th is a wholly owned subsidiary of DFS Furniture Company Turnover £729,900 £690,000 £670,800
March 2020 and five yearly thereafter. Ltd which itself is a wholly owned subsidiary of Freehold.
Pre-Tax Profit £65,700 £64,200 £70,600
DFS Furniture plc.
Total Net Worth £45,300 £66,000 £49,100
DFS Furniture plc announced for the 26 weeks ended
28 January 2017 the following results: group revenue
increased 6.8% to £379.9m, EBITDA increased 4.5%
to £32.4m and profit before tax increased by 3.1% to
£16.7m.
EPC PRICING
Available upon request.
We are instructed to seek offers in excess of £5,850,000 (Five Million Eight Hundred and Fifty Thousand
VAT
The property is elected for VAT, it is assumed the transaction
Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 9.00%,
will be treated as a Transfer of a Going Concern (TOGC). after allowing for purchaser’s costs of 6.63%.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dale Johnstone Lottie Hayward Paddy Hales Marcus De Minckwitz
020 7543 6796 020 7543 6750 0117 9102 203 020 7409 8755
dale.johnstone@allsop.co.uk lottie.hayward@allsop.co.uk www.allsop.co.uk PHales@savills.com MDeMinckwitz@savills.com www.savills.com
Misrepresentation Act: 1. Allsop LLP and Savills on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Savills 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 instructing party does not make or give, and neither Allsop or Savills nor any of their 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 instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party 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: Command D - www.commandHQ.co.uk 04.17
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