MECCA BINGO FOLJAMBE ROAD, CHESTERFIELD, S40 1NJ - WELL SECURED FREEHOLD LEISURE INVESTMENT OPPORTUNITY £3.645M REFLECTING AN ATTRACTIVE NET ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
MECCA BI NGO FOLJAMBE ROAD, CHESTERFIELD, S40 1NJ WELL SECURED FREEHOLD LEISURE INVESTMENT OPPORTUNITY £ 3 . 6 4 5 M R E F L E C T I N G A N AT T R AC T I V E N E T I N I T I A L Y I E L D O F 1 0 %
ME C CA B I N G O, F OLJAM B E R OAD, CH E ST E RFIE LD, S 40 1N J
INVESTMENT
SUMMARY
• Close to the town centre and
adjacent to a Lidl supermarket.
• The property was constructed in
1996 and comprises 35,481 sq ft.
• Site area of 3.320 acres
providing a low site coverage of
approximately 25%.
• Freehold.
• The property is let to Mecca CHATSWORTH RD A619
Bingos Ltd until September
2021.
• Current rent of £388,238 per
annum (£10.94 psf).
• Vendors seeking offers in excess
of £3.645m (Three Million
Six Hundred and Forty Five WHEATBRIDGE
RETAIL PARK
Thousand Pounds) subject to
contact and exclusive of VAT.
MATALAN
• Net initial yield of 10% after
allowing for adjusted purchaser’s
costs of 6.51%.
• Potential for alternative uses
subject to the relevant planning
consents.
• Car parking for approximately LIDL
225 vehicles
ME C CA B I N G O, F OLJAM B E R OAD, CH E ST E RFIE LD, S 40 1N J
B6
B6 0 5 7
LOCATION 05
1N
AD
EW
RO
BO
A61
LD CHESTERFIELD
ON
RO COLLEGE
GT
WE S
A
Chesterfield is a historic market town in Derbyshire. Situated within the East Midlands M1 D
MIN
ASHGATE
T ST
RO
BRI
AD
corridor on the A61, 12 miles (19 kilometres) south of Sheffield, 24 miles (39 kilometres north
REET
YSTRE
ER ET
of Derby) and 6 miles (10 kilometres) from junction 29 of the M1 motorway. EW
BR
SUBJECT PROPERTY CHESTERFIELD
RAIL STATION
S ALTERGATE
Chesterfield Station is situated on the Midland Mainline providing a direct service to London
AD
FOLJAMBE RO
St Pancras with a journey time of approximately 2 hours. East Midlands Airport is located 35
miles to the south and Manchester International Airport 45 miles to the west.
CHESTERFIELD
PARISH CHURCH
TE
’S GA
population ofA59148,000Harrogate
A65A59
Chesterfield has
A682 a Skipton living in aA515 mile radius and a resident population of AD VICAR LANE
York RO
B6543 S T MARY
190,000 people within a 15 minute drive time. Chesterfield benefits from lying on the edge of
Ilkley TH SHOPPING CENTRE
A614 OR
TSW
A61 ROTHER WAY
A61 A64 CHA A6 1 9 MCDONALD’S
the Peak District National Park, which
Otley attracts
A65 in excess of 10 Tadcaster
LEEDS &
million visitors each year.
A58
Clitheroe Keighley A650 BRADFORD
A1079 DUNELM
14 Bingley A19 Beverley CHESTERFIELD A61
13 9 MAR A63
Nelson Shipley
2
A59
Padiham 12
LEEDS Garforth Selby
A614 A165 KHAM
ROAD
2H
ADY
HILL
M65 10 Burnley BRADFORD M621 HULL
n 31
8
1 47 A1 38
6
7 Accrington 43
M62 ROMPA
Blackburn QUEENS
30 Halifax 26 27
30 M62
Castleford 37
RAVENSIDE
29 9 Batley PARK
41
31 32 36
RETAIL PARK
28
Darwen Rawtenstall BRIGHOUSE 25 DEWSBURY 33 34 GOOLE
BOYTHORPE
8 24 40
WAKEFIELD M18 A15
A 617
23
6 M62
Chorley M66
1 39
22
HEMSWORTH 6 THORNE Immingham
M61 BURY HUDDERSFIELD 38 SCUNTHORPE
7 2
21
5 1 M181 5 Grimsby
BOLTON
ROAD
20 38
6 3 19 M1 M180 2 M180 Cleethorpes
3
5 4
4 37 4 QUEENS PARK
3 M60
17 37 TOYS R US
Wigan 15 DONCASTER A46 SPORTS CENTRE
25
24
14
MANCHESTER 36 36
3 A16 B&Q
23
STOCKSBRIDGE A159 A15 A6
M62 1 3
35 17
A1(M) ALMA
22
11
6 ROTHERHAM LEISURE
9 1
M62 9 M60
34
34 A631 PARK
SHEFFIELD
33 32
5 34
GAINSBOROUGH Louth MCDONALD’S
20
M56 7
6
31 WORKSOP
MANCHESTER
A6
11 10 RETFORD
2 19 M1 A57 A156 A46
A61
30 A1 A158 A16
A34
BUXTON
M6
MACCLESFIELD LINCOLN
18
SITUATION
29
ER 17
A523 A53 A515
A6
MANSFIELD
MATLOCK
A15
NEWARK
CHESTERFIELD
CREWE LEEK 28
16
ON TRENT
A52 The subject property occupies a large site west of
A500
ANTWICH A38 27
STOKE-ON-TRENT A46
Chesterfield town centre. The property is situated adjacent
A52 ASHBOURNE
26
A1
A17 Boston to a Lidl Supermarket with a shared entrance from
NEWCASTLE UNDER LYME A52
Foljambe Street. Other retail warehouse occupiers within
15
A50
A52
A53 A34
UTTOXETER DERBY 25
NOTTINGHAM GRANTHAM
A52 A16
the vicinity include Wickes, Carpetright and Matalan.
A17
A50 A607
14
A51
EAST
24
A15 A151
The principal out of town retail park for Chesterfield is
STAFFORD A515 MIDLANDS Spalding King's
A38 A17
A17 Lynn situated close by on Ravenside Retail Park, where retailers
NEWPORT 13 23 A1
A47
include Next, B&M, Asda Living, Currys and Pets at Home..
M6 A42 M1 A607 A606
A5 A10
7 6 5 12 CANNOCK 11
22
Stamford Wisbech
A16
M54 11
2 M6(T) A47
ME C CA B I N G O, F OLJAM B E R OAD, CH E ST E RFIE LD, S 40 1N J
DESCRIPTION
The property comprises a purpose built flat floor bingo club of steel frame
construction with part brick and part profile metal clad elevations beneath a
pitched profile sheet roof. The property was constructed in 1996.
The principal entrance to the site is via a shared access road from Foljambe
Street. There is a large serviced car park surrounding the main building with
car parking provided for approximately 230 vehicles.
The main bingo hall is open plan with some raised seating areas, and a total
seating area of approximately 1,400 persons. The trading area is served by a
bar, food counter, trade kitchen and two sets of WC’s with a separate disabled
WC. The remainder of the ground floor comprises administrative offices and
stores. A smoking shelter was constructed approximately 5 years ago and
is accessed via the main bingo hall.
There are a number of mezzanine floors within the building, one housing the
plant room the other administrative offices, staff rooms and ancillary storage.
TENURE
Our client will be disposing of their Freehold interest.
ACCOMMODATION
The subject property has an area of 3.32 acres (1.34 hectares). Existing site
cover is approximately 25% as set out in the schedule below.
Description Sq m Sq ft
Ground Floor 2,874.99 30,946
1st Floor 421.36 4,535
Total 2,296.35 35,481
Site area of 3.320 acres providing a low site coverage of approximately 25%.
ME C CA B I N G O, F OLJAM B E R OAD, CH E ST E RFIE LD, S 40 1N J
COVENANT INFORMATION
Mecca Bingo Ltd – is a wholly owned subsidiary of the Rank Group who are a British gambling and
leisure company which incorporates the brands Mecca Bingo and Grosvenor Casinos. In the UK the
company operates 55 casinos, 98 bingo halls with over half a million customers each year together
with online gambling and betting. The Rank Group is listed on the London Stock Exchange and is a
constituent of the FTSE 250 index.
For the year ending 30th June 2015 Mecca Bingo Ltd reported a turnover of £208.32M and pre-tax
profits of £23.80M. For the same period the company reported a net worth of £457.54M.
PLANNING TENANCY
The property currently has The entire property is let to Mecca Bingo Ltd for a term expiring the
D2 use with potential for 28th September 2021 at a current rent of £388,238 per annum
alternative uses subject to (£10.94 psf). The lease is held on Full Repairing and Insuring terms,
the relevant planning but subject to a Schedule of Condition which can be provided upon
consents. request.
The tenant has an option to renew at the end of the lease at market
rent.
ME C CA B I N G O, F OLJAM B E R OAD, CH E ST E RFIE LD, S 40 1N J
EPC PROPOSAL
The property has an EPC rating of F with a The Vendors are seeking offers in excess
score of 138. of £3.645m (Three Million Six Hundred
and Forty Five Thousand Pounds) for
the benefit of their freehold interest,
VAT subject to contact and exclusive of VAT.
VAT will be applicable on the sale of the A purchase at this level will reflect a Net
property. Initial Yield of 10% after allowing for
adjusted purchasers costs of 6.51%
FURTHER INFORMATION
Should you wish to view the property or require any further information please contact the
agents:
Jamie Baruch Stephen Raingold
Tydus Real Estate Lewis & Partners
DD: 020 3903 7310 DD: 0207 580 4333
Mob: 07889 085 112 Mob: 07775 647 499
jamiebaruch@tydusre.com stephenraingold@lewisandpartners.com
Will Elphinstone Joseph Rantor
Tydus Real Estate Lewis & Partners
DD: 020 3904 3573 DD: 0207 580 4333
Mob: 07876 131 346 Mob: 07976 599 374
willelphinstone@tydusre.com josephrantor@lewisandpartners.com
MISREPRESENTATION ACT 1967. Tydus Real Estate for themselves and for the vendors or lessors of the property whose agents they are give notice that: (i) these
particulars are given without responsibility of Tydus Real Estate or the vendors or lessors as a general outline only for the guidance of prospective purchasers or
tenants, and do not constitute the whole or any part of an offer or contract; (ii) Tydus Real Estate cannot guarantee the accuracy of any descriptions, dimensions,
references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not
rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) no employ-
ee of Tydus Real Estate (and their joint agents where applicable) has any authority to make or give any representation or warranty or enter into any contract
whatsoever in relation to the property; (iv) VAT may be payable on purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or
lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) except in respect of death or person-
al injury caused by the negligence of Tydus Real Estate, its employees or servants, Tydus Real Estate will not be liable, whether in negligence or otherwise howso-
ever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently. 07/2017.
Designed and produced by Creativeworld Tel: 01282 858200.
You can also read
