DIDSBURY 651-653B WILMSLOW ROAD MANCHESTER M20 6QZ - FULLY LET RETAIL & LEISURE PARADE INVESTMENT - Allsop
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651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
FULLY LET RETAIL & LEISURE PARADE INVESTMENT
UNEXPIRED LEASE TERM 0F 12.1 YEARS, 15.7 YEARS TO EXPIRY
651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
INVESTMENT CONSIDERATIONS PROPOSAL
■ Didsbury is an affluent and highly ■ Tesco and Stonegate Pub Company ■ Freehold ■ We are instructed to seek offers in
desirable suburb of Manchester t/a Slug and Lettuce have been ■ Car parking to the rear of the site excess of £5,500,000 (Five Million,
■ Popular retail and leisure parade in occupation since 1998 let on a management agreement, Five hundred Thousand Pounds)
in the heart of Didsbury Village ■ Attractive AWULT of 12.1 years terminable by either party on subject to contract and exclusive of
to break, 15.7 years to expiry 3 months’ notice VAT. This equates to an attractive
■ Fully let to 5 tenants including net initial yield of 7.21% assuming
a mix of national and independent ■ Total passing rent of £422,750 ■ Total site area of 1.04 acres purchaser’s costs of 6.61%
operators benefiting from a diverse per annum reflecting £25 psf ■ Strong residential values, potential
income stream ■ Total floor area of 16,977 sq ft to convert the upper parts subject
arranged over ground and first floor to planning
651-653B WILMSLOW ROAD
DIDSBURY
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LOCATION
Didsbury is an attractive suburb of Manchester located approximately 4.5 miles south of Manchester’s city centre along the River Mersey. Manchester
is the principle administrative and commercial capital of the North West of England and the largest financial and business centre outside of London.
ROAD RAIL TRAM AIR
Didsbury benefits from excellent road East Didsbury and Burnage Stations are Manchester MetroLink System provides Manchester Airport is located 8 miles to the
communications with the A23 to the east nearby to the subject property and provide light rail communications across the Greater south of Manchester City centre providing
providing access into Central Manchester local and Northern Line services. Manchester Manchester conurbation with the subject international flights worldwide. The airport
to the north and connections to the M60 benefits from two mainline stations in the city property benefitting from services through benefits from a direct rail link to the city
and M56 respectively to the south. centre providing intercity services throughout East Didsbury approximately 0.2 miles to centre with a journey time of 15 minutes.
the UK including direct regular services to the south east.
London with a fastest journey time under
two hours.
651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
Didsbury is one of Manchester’s
most affluent areas and one of
the most sought after locations
WILMSL
OW ROA
D
© Crown Copyright, ES 100004106. For identification purposes only.
SITUATION DEMOGRAPHICS RESIDENTIAL IN DIDSBURY
The property is well- Didsbury is one of Manchester’s Didsbury Village has a range of There’s a variety of house types on
positioned along Wilmslow most affluent areas and one high street stores as well as a offer, from studio apartments to large
Road, the main retail of the most sought after range of independent boutiques family homes.
thoroughfare between locations. The suburb has a and designer stores. There A one-bedroom apartment in Didsbury
Didsbury and Withington. population of around 50,000 is also a selection of beauty averages around £700 per month and a
The pitch provides a and a median age of 31. salons, restaurants and banks. two-bedroom home achieves in the region
mix of traditional retail, Didsbury is split into three Didsbury has a thriving of £850. Family homes can market for
convenience store, areas, East Didsbury, known community with various events anywhere between £1,000 and £2,000
restaurant and leisure for excellent schools and a taking place throughout per month.
occupiers including predominately residential area. the year, including Didsbury Its desirability is reflected in its property
Domino’s, Aldi, Slug and West Didsbury is home to a Arts Festival, Didsbury Beer prices which average around £140,000
Lettuce and Costa Coffee. selection of restaurants and Festival, Didsbury Festival for a one bed flat, £300,000 for a semi-
Didsbury Village, the centre and West Fest. The title detached and seven figures for a large
of the town, which offers a comprises a large site area detached house.
vibrant community. of 1.04 acres. created on
Misrepresentation Act: 1. Allsop LLP on their own behalf and on behalf of the instructing party, whose agents Allsop are, gives notice tha
651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
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DESCRIPTION
EY
5 WIL
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PE V
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T The property comprises a fully let retail
B509
and leisure parade of 5 properties
arranged over ground and first floors.
651a – 653 Wilmslow Road provide
ELM GRO a parade and 651 Wilmslow Road
VE
is a standalone building the other side
YORK
ST of the access to the car parking.
Car parking is provided to the rear of
the site providing 59 car parking spaces.
The title comprises a large site area of
1.04 acres.
L ANE
SO NG E
UT GRA
H
RO
A
TENURE
Plotted Scale -D1:1,250
Freehold.
at: (a) these particulars do not
651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
TENANCY
A measured survey has been undertaken by Luis and Bell, a copy is available in the data room.
Demise Tenant Sq Ft Sq M Lease Start Lease Expiry Review Break Rent (£ pa) Rent (£ psf) Comments
Ground 2,336 217
Unit A
Orijen Limited t/a Croma Didsbury First 1,259 117 11/05/1998 10/05/2023 10/05/2018 £79,750 £22.17
No. 651a
Total 3,597 334
Ground 2,239 208
Unit B - Camerons Brewery Limited t/a Head of
First 409 38 29/11/2017 28/11/2037 29/11/2022 29/11/2027 £70,000 £26.44
No. 653 Steam Didsbury
Total 2,648 246
Ground 3,358 312
Unit C -
Tesco Stores Limited First 344 32 26/05/1998 25/05/2033 26/05/2023 £92,000 £24.85
No. 653a
Total 3,703 344
Ground 2,357 219
Unit D - Northern Restaurants Limited
La Cantina Didsbury Limited t/a The Mad Giant First 646 60 04/11/2016 03/11/2036 04/11/2021 04/11/2031 £75,000 £24.97
No. 653b is guarantor
Total 3,003 279
Ground 2,551 237
Unit E - Stonegate Pub Company Limited
First 1,475 137 10/07/1998 09/07/2048 10/07/2023 £90,000 £22.36
No. 651 t/a Slug and Lettuce
Total 4026 374
Car Park Car Parks Limited 05/06/2009 £16,000 Let on a management agreement, the
SIP rent calculated as income less 35%
management fee. Termination by either
party subject to 3 months’ notice.
Total 16,977 1,577 £422,750
651-653B WILMSLOW ROAD
DIDSBURY
MANCHESTER M20 6QZ
COVENANT
Tesco Stores Limited 00519500 Stonegate Pub Company Limited FC029833 Camerons Brewery Limited
t/a The Slug & Lettuce t/a The Head of Steam
Tesco Stores Ltd is a wholly owned subsidiary of Tesco Plc, the Stonegate group is the largest pub company in the UK with a vast Cameron’s Brewery is a pub company originally founded in 1852
UK’s leading food store retailer. Since opening its first store in East portfolio of over 4,500 sites which range from Leased & Tenanted based in Hartlepool. It has been a family business since 2002 and
London in 1919, Tesco has just under 7,000 stores worldwide and to Managed properties. They operate a range of commercial provides a range of services including contract brewing, branded
employs more than 500,000 staff. It is one of the world’s top 10 properties that include a portfolio of free of tie assets including products and a portfolio of Managed as well as Leased and
retailers and a FTSE 100 company. bars, pubs and food led destinations. Tenanted pubs.
24 February 23 February 29 February 30 September 29 September 27 September 29 April 05 May 03 May
2018 2019 2020 2018 2019 2020 2018 2019 2020
Turnover £41,367,000,000 £42,219,000,000 £42,951,000,000 Turnover £774,390,000 £852,791,000 £707,000 Turnover £74,034,619 £84,106,239 £73,199,156
Pre-Tax Profit £417,000,000 £737,000,000 £1,151,000,000 Pre-Tax Profit £-4,481,000 £-24,620,000 £-746,000 Pre-Tax Profit £1,178,219 £397,271 £-3,683,367
Total Net Worth £4,071,000,000 £5,167,000,000 £4,817,000,000 Total Net Worth £-122,975,000 £-152,713,000 £194,000 Total Net Worth £10,381,624 £11,025,452 £7,395,726
Orijen Limited t/a Croma La Cantina Didsbury Limited t/a The Mad Giant
Croma was set up in Manchester in 2020 and won ‘Newcomer of Restaurateur Steve Piling has converted his Didsbury tapas bar, La venues including Mr Thomas’s and Sam’s Chop Houses, Damson,
the Year’. In the following years they have set up Chortan in 2005, Cantina into The Mad Giant, Didsbury Village’s first food and drink The Red Lion Stockport, La Cantina, Roost, Liquorice (now Vesper),
Prestwick in 2008 and Didsbury in 2012. hall with a range of different cuisines from various food outlets. The Lost In Tokyo, Guilty by Association, The Dockyard, Gasworks, The
Restaurant opened on 4th December 2019, as well as Stockport Moor Top pub, and Blackshaw’s Kitchen Stockport.
Produce Hall and The Mad Giant, Pilling is best known for creating
EPC ANTI-MONEY-LAUNDERING
Available in data room. A successful bidder will be required to provide information to
satisfy the AML requirements when Heads of Terms are agreed.
VAT
The property has been elected for VAT
DATAROOM
and we would expect the transaction to be For access to the Allsop dataroom please use the following link:
treated as a Transfer of a Going Concern. https://datarooms.allsop.co.uk/register/WilmslowRoadDidsbury
PROPOSAL
Offers sought in excess of £5,500,000 (Five Million and Five Hundred
Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this
level reflects a net initial yield of 7.21% assuming purchaser’s costs of 6.61%
For further information or to make arrangements for viewing please contact:
Jeremy Hodgson Lottie Hayward Freddie Foley
07850 976 116 07817 549 237 07765 982 637
jeremy.hodgson@allsop.co.uk lottie.hayward@allsop.co.uk freddie.foley@allsop.co.uk 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 06.21
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