OMAHA THE PORTFOLIO A WELL LET, HIGH YIELDING R ETAIL WAR EHOUSE PORTFOLIO
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THE
OMAHA PORTFOLIO
A WE L L L E T, H I G H YI E L D I N G R E TAI L WAR E H O USE PO RT FO LIO
A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
EXECUTIVE SUMMARY 8
7
• The Omaha Portfolio comprises 9 well located, high yielding retail
warehouse assets totalling 473,303 sq ft, with 8 in England and 1 in
Scotland. 9
6
• All assets are dominant within their respective retail shopping 4 5
1 3
catchments.
2
• The portfolio is 97% occupied by tenants including Matalan, B&M,
TK Maxx, Wickes, B&Q, Hobbycraft, The Range, Dunelm,
Currys PC World, Pets at Home, Halfords and Pure Gym.
• The portfolio’s net rental income is currently £5,449,676 per annum, LONDON
equating to an average low base rent of £11.51 per sq ft.
1 Grantham
• 84% of the portfolio’s income is attributed to retailers with ‘Minimum’
2 Northampton
or ‘Lower than Average’ risk of business failure. 3 Boston
4 Chesterfield
• Weighted average unexpired lease term (WAULT) to expiry of 6.7 years
5 Skegness
and to earliest terminations of 5.9 years, providing an attractive income
6 Ashton-under-Lyne
profile (assuming the B&M lease is re-geared at Boston). 7 Blyth
8 Dumfries
• All assets are owned freehold / heritable title.
9 Dewsbury
• There are a number of active asset management initiatives.
THE OMAHA PORTFOLIO 2
A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
PORTFOLIO ANALYSIS
Top 9 tenants
15.7%
11.3%
9.6%
7.5%
6.1% 5.9%
4.2% 3.9% 3.6%
WAULT to lease expiry Portfolio occupancy by floor area
42%
21% 17% 20%
0-3 years 3-6 years 6-9 years 9+ years 3%
LET
WAULT to earliest termination VACANT
27% 30%
26% 97%
17%
0-3 years 3-6 years 6-9 years 9+ years
THE OMAHA PORTFOLIO 3
A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
PROPOSAL
We are instructed to seek offers in excess of £57,000,000 (Fifty Seven Million Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 8.95%, assuming full purchaser’s costs.
The quoting price reflects a low capital value of £120 per sq ft.
SPV
The properties are held within two Special Purpose Vehicles, domiciled in Jersey, established by the vendor and a sale of these companies is available.
PORTFOLIO ASSETS
AREA CURRENT RENT PA
TOWN SCHEME WAULT TO LEASE EXPIRY
(SQ FT) (PER ANNUM) (PER SQ FT)
GRANTHAM Grantham Retail Park 66,974 £542,672 £8.10 10.0 years
NORTHAMPTON Hobbycraft and Matalan 42,093 £673,964 £16.01 6.7 years
BOSTON Alban Retail Park 54,944 £592,984* £10.79 10.7 years**
CHESTERFIELD TK Maxx and Home Bargains 38,964 £446,250 £11.45 8.0 years
SKEGNESS Skegness Retail Park 57,579 £682,625 £11.86 6.6 years
MANCHESTER Ashton Retail Park (Ashton-under-Lyne) 33,883 £421,936 £12.45 5.1 years
BLYTH Blyth Valley Retail Park 53,661 £698,111* £13.01 5.2 years
DUMFRIES Peel Retail Park 85,442 £1,064,342* £12.46 4.7 years
DEWSBURY Wickes and B&M 39,763 £326,792 £8.22 3.4 years
TOTALS 473,303 £5,449,676 £11.51 6.7 years
*Vendor to provide a 2 year rent, business rates and service charge guarantee on vacant units.
**Assuming the B&M lease is re-geared.
THE OMAHA PORTFOLIO 4
A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
1
GRANTHAM
RETAIL PARK
GRANTHAM NG31 8HX
INVESTMENT SUMMARY
• Grantham is an affluent market town in Lincolnshire, circa 25
miles east of Nottingham, 36 miles north west of Peterborough
and 32 miles north east of Leicester.
• Prominently situated fronting North Parade (B1174) half a mile
north of the town centre.
• Large catchment population with 83,939 people living within the
scheme’s 20 minute drive time catchment.
• A terrace of 3 retail warehouse units totalling 66,974 sq ft.
• Let to Wickes, DFS and The Range.
• The Range benefits from 5 yearly fixed rental uplifts equal to
2.0% pa compounded.
• Passing rent of £542,672 pa, reflecting a low average rent of £8.10
per sq ft.
• WAULT of 10 years.
• Open A1 (Non-Food in respect of part only).
• Freehold.
THE OMAHA PORTFOLIO 5
G R A N T H A M R E TA I L PA R K G R A N T H A M N G 31 8 HX
B1
4
17
07
A6
NE
LA
ON
GO
LT
NE
BE
RB
MA NTHORPE ROAD
Y
RO
SUBJECT
AD
PROPERTY
A1
W
RRO BY L
HA
E
AN E
AN
A52 L
N
TO
B EL
A52
B117
BARRO
W BY ROAD
4
BARROWBY
AD
R OAD
SL
RO
07
A5 07 A6
N
A6
CO
2
Depot
BEA
A1
S ANKT AUGUS
NEW
TE
GA
BY
GRANTHAM
OW
B117
R
BAR
NE
4
E LA
IDG
STONE B R
TIN W
AD
RT RO AUGUSTIN RETAIL PARK
DYSA
AY
El Sub Sta
LOW ROAD DYSART ROAD
DYSART RETAIL PARK A5 2
A1
TRENT ROAD
LO
07
A6
ND
ON
Pond
ROAD
Grantham
LONDON ROAD CLUSTER END RO
A5 GE
2
Tra ck
B RID
A1
AD
TRENT
ED ROAD
OAD A5
Bd
SPRINGFI ELD R
B1174
2
y
LOCATION SITUATION
Grantham is an attractive market town in Grantham Retail Park is prominently located on
Lincolnshire, approximately 25 miles east of North Parade (B1174) half a mile north of the town
Nottingham, 36 miles north west of Peterborough centre.
and 32 miles north east of Leicester. The town
occupies a strategic position adjacent to the
intersection of the A1 and A52 dual carriageways.
Grantham railway station provides regular services to
London King’s Cross with a fastest journey time of
approximately 1 hour 10 minutes.
THE OMAHA PORTFOLIO 6
G R A N T H A M R E TA I L PA R K G R A N T H A M N G 31 8 HX
RETAIL WAREHOUSING PROVISION IN GRANTHAM DESCRIPTION
In addition to the subject property, Grantham has the following retail warehouse provision: The property comprises 3 retail warehouse units of steel portal
frame construction, arranged in a linear terrace. Both The Range
DYSART RETAIL PARK – 80,000 SQ FT
and Wickes have external garden centres located to the side of
Situated 1 mile south of the subject property is this open A1 (non-food) consented scheme let to TK Maxx, Currys PC World, Matalan and a
their units.
vacant 30,000 sq ft unit (previously occupied by Homebase). Rents £11.00 to £14.00 per sq ft. Owned by Colliers Capital.
There are approximately 252 customer car parking spaces to the
AUGUSTIN RETAIL PARK – 32,000 SQ FT
front of the units, providing a ratio of 1 : 266 sq ft.
Situated 1 mile south of the subject property is this open A1 (non-food) consented scheme let to Next, Pets at Home, Sports Direct, Home
Bargains and a vacant 5,059 sq ft unit (previously occupied by Poundworld). Owned by South Yorkshire Pension Fund. The site extends to approximately 5.5 acres (2.2 hectares).
London Road Cluster – 24,500 SQ FT
Half a mile south of the town centre is the open A1 (non-food) consented Discovery Retail Park (24,500 sq ft) let to Carpetright, Laura Ashley TENURE
and Poundstretcher. Rents £8.75 to £14.00 per sq ft. Owned by Custodian Capital. There are a number of solus units occupied by B&Q, M&S
Foodhall, Halfords, Dunelm and Aldi. Freehold.
ASSET MANAGEMENT
Opportunity to develop a new A3 pod unit.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
Rent review capped at 2.5% pac
A Wickes Building Supplies Ltd 26,674 08/01/2019 07/01/2027 - 08/01/2024 £220,000 £8.25 40% (shall not exceed £248,910 pa).
B DFS Trading Ltd 14,800 22/06/2015 21/06/2025 - 22/06/2020 £118,400 £8.00 22%
CDS (Superstores International) Ltd 5 yearly fixed rental uplifts equal to 2.0%
C 25,500 16/11/2015 15/11/2035 - 16/11/2020 £204,272 £8.01 38%
t/a The Range pac.
66,974 £542,672 £8.10
THE OMAHA PORTFOLIO 7
A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
2
HOBBYCRAFT
AND MATALAN
NORTHAMPTON NN5 5AF
INVESTMENT SUMMARY
• Northampton is located the East Midlands, 67 miles north west
of London.
• Situated in Northampton’s prime retail warehouse pitch on
Weedon Road.
• Large catchment population with 315,016 people living within the
scheme’s 20 minute drive time catchment.
• 2 retail warehouse units totalling 42,093 sq ft.
• Let to Matalan and Hobbycraft.
• Opportunity to re-gear the occupational leases past 2026.
• Passing rent of £673,964 per annum, reflecting an average rent of
£16.01 per sq ft.
• WAULT of 6.7 years.
• Open A1 (including food).
• Freehold.
THE OMAHA PORTFOLIO 8
H O B BYC R A F T & M ATA L A N N O RT H A M P TO N N N 5 5A F
ED
TCB
ACK ROAD
SM
A50 95
A4
E
28
Gas Gov Shelter
AN
SL
NT
BA
BA R R
HA
AD
RL
76.8m
RO
ES
N N ROAD
AI
TO
DO
EE M
NE
W
RO
SPENCER BRIDGE ROAD TERR CA
11
ROAD
DU
AD
WIL MINGTON
STO MP
E ET
N B
ROA LL
D
E
17
SQ
STR
’S
28
DREW
A4
D
OA
WEEDON ROAD
TOLLGATE WAY
SIXFIELDS RETAIL PARK A45
BR
ST AN
er
00
e lt
Sh
RO
0
M IL
SS
50
A4
TY
RO
LW
NE
T
AD
NORTHAMPTON
AY
ARKE
RO
ST
RIVERSIDE RETAIL PARK
AD
JA
N RD
WEE D O
HORSE M
M
TY
ES
NE
’R
A50 95
RO
00
ST PETER’S WAY
OA
AD
A45 RETAIL PARK
D
Northampton
A4500
b
S ta
SUBJECT A4500
A5076
Su
El
PROPERTY
A508
Industrial 50
A4
Estate 0
RING
ROAD
A5
12 3 3
A512
A5123
A5 0 8
ST JAMES’ RETAIL PARK
B RID
GE S
A5076
TREET
NENE VALLEY RETAIL PARK
TW
EE
D
TOWCESTER ROAD
RO
AD
A508
A5076
LOCATION SITUATION
3
12
A5
Northampton is the county town of The property is located in the town’s main retail
Northamptonshire. It is regarded as one of the UK’s warehouse pitch on the A4055 Weedon Road, 2 miles
premier distribution hubs, being strategically located east of the town centre.
67 miles north west of London, 45 miles south east
of Birmingham and 30 miles north east of Oxford.
The town has excellent communication links, located
4 miles east of Junctions 15, 15a and 16 of the M1
motorway. The M6, M45 and M40 are also easily
accessible from the town.
Northampton train station provides direct rail services
to both London and Birmingham, with fastest journey
times of 58 minutes and 60 minutes, respectively.
THE OMAHA PORTFOLIO 9
H O B BYC R A F T & M ATA L A N N O RT H A M P TO N N N 5 5A F
RETAIL WAREHOUSING PROVISION IN NORTHAMPTON DESCRIPTION
There are 2 main concentrations of retail warehousing in NENE VALLEY RETAIL PARK - 147,000 SQ FT The property comprises 2 adjoining retail warehouse units of steel
Northampton. Wickes and Halfords have solus units bordering Adjacent to St James’ Retail Park. Open A1 (including food) portal frame construction.
the subject property, whilst Sixfields Retail Park, Sainsbury’s and consented scheme let to Dunelm, Pets at Home, Currys PC
Customer access and egress is from Weedon Road and there
Lidl are within close proximity. World, ScS, Dreams, B&M, Carpetright, Tapi and Smyths Toys.
are approximately 145 spaces car parking spaces, providing a ratio
Rent £8.00 to £25.00 per sq ft. Owned by Landsec.
To the south of the town centre are St James’ Retail Park, Nene of 1 : 239 sq ft.
Valley Retail Park and St Peters’ Way Retail Park. Riverside Retail Park ST PETER’S WAY RETAIL PARK - 96,141 SQ FT
The site extends to approximately 2.3 acres (0.9 hectares).
is located on the eastern side of the town. We summarise these Hybrid town centre/retail warehouse scheme situated on the
retail parks below: south western edge of the town centre. Open A1 (non-food)
SIXFIELDS RETAIL PARK - 60,000 SQ FT
consented scheme let to Argos, Home Bargains, Iceland, Pure TENURE
Gym One Below and Card Factory with an Open A1 (non-food)
Open A1 (non-food) consented scheme let to M&S Foodhall,
planning consent. Rents circa £10.00 per sq ft. Owned by DTZ Freehold.
Next, Boots, Poundland and TUI. Rents £18.00 to £25.00 per sq ft.
Investors.
Owned by USS.
ST JAMES’ RETAIL PARK - 170,000 SQ FT
RIVERSIDE RETAIL PARK - 180,000 SQ FT ASSET MANAGEMENT
Situated 2 miles east of Northampton town centre, this restricted
Open A1 (non-food) consented scheme, a quarter of a mile
A1 non-food consented scheme is let to Homebase, Next, Boots, Opportunity to re-gear the existing occupational leases.
south of the town centre, let to DFS, DW Sports, The Range,
Sports Direct, Pets at Home, Currys PC World, Halfords and
Mothercare, AHF, Laura Ashley, HomeSense and a vacant former
others. Rents £18.50 to £35.00 per sq ft. Owned by M&G.
Toys ‘R’ Us unit. Rents £20.00 to £25.00 per sq ft. Owned by DTZ
Investors.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
A Matalan Retail Ltd 28,644 16/07/2012 28/09/2026 - 24/06/2021 £453,964 £15.85 67% Tenant mezzanine: 8,676 sq ft.
Tenant Mezzanine: 5,101 sq ft
1,702 sq ft first floor incl in GIA.
B Hobbycraft Trading Ltd 13,449 05/08/1996 29/09/2026 - 01/10/2021 £220,000 £16.36 33% Reversionary lease granted
26/07/2012 from 30/09/2016 to
29/09/2026.
42,093 £673,964 £16.01
THE OMAHA PORTFOLIO 10A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
3
ALBAN RETAIL PARK
BOSTON PE21 7NN
INVESTMENT SUMMARY
• Boston is an established commercial centre in Lincolnshire, 35 miles
south east of Lincoln.
• Prominently located on the A52, 2 miles south west of the town
centre, adjacent to a Tesco supermarket.
• Large catchment population with 84,087 people living within the
scheme’s 20 minute drive time catchment.
• 3 retail warehouse units totalling 54,944 sq ft.
• Let to Dunelm and B&M with 1 available unit.
• B&M are in discussions for a 15 year reversionary lease.
• Negotiations ongoing regarding the available unit.
• Passing rent of £592,984 per annum, reflecting an average rent of
£10.79 per sq ft. Includes a rental top up on the available unit of
£10.00 per sq ft.
• Open A1 (non-food in respect of part).
• Freehold.
THE OMAHA PORTFOLIO 11A L BA N R E TA I L PA R K B O S TO N P E 2 1 7 N N
TAT
6
A1
TE
De f
RS
BOSTON SHOPPING PARK
HA
LL
ROAD
D
Wa rd B dy
OA
R
Y
Dra in
SB
TA
IL
SP
WN
EY
ARGYLE ST FYDELL S T REET
ST
Alban Retail Park
A1137
3.4m BOSTON
Boston 6
AD A1
ORD RO
SLEAF
A5
2
2
A5
AY
MS W
QUEEN STREET RETAIL PARK ADA
AD JOHN
RO
A1
D
138
A1121 OR
BOARDSI AF
DES
SLE
VACANT
SK
IRB
Dra in
EC
A 16
k
ec K
B RO
o nd AD
m
H am
w
Ne
AD
EAD RO
SWINEH
A52
A 52
SPALD
SUBJECT
ING R
PROPERTY
ESS
2.7m
Pipeline
OAD
CD
7
39
B1
AD
RO
N
DO
N
LO
A 16
LOCATION SITUATION
Boston is an established commercial centre within Alban Retail Park is prominently located on the A52,
Lincolnshire, East Midlands. The town is approximately 2 miles south west of the town centre. The scheme
35 miles south east of Lincoln and 32 miles north is adjacent to a Tesco supermarket and within close
of Peterborough. The town is prominently located proximity to a 40,000 sq ft B&Q.
on the A52 and A16 trunk roads. The A16 is the main
arterial route through the town and provides access
to the East Midlands and south onto the A1.
Boston railway station provides direct access to
Grantham and Nottingham in 51 minutes and
1 hour 17 minutes respectively. Rail links to London
Euston (via Grantham) are at a journey time of
approximately 2 hours 22 minutes.
THE OMAHA PORTFOLIO 12A L BA N R E TA I L PA R K B O S TO N P E 2 1 7 N N
RETAIL WAREHOUSING PROVISION IN BOSTON DESCRIPTION
In additional to the subject property and the B&Q, there is a cluster of retail warehousing to the north The property comprises an ‘L’ shaped terrace of 3 retail warehouse units of steel portal frame
of the town centre, which includes solus units let to Wickes, Matalan, Currys PC World and 2 parks construction.
that are summarised below:
There are approximately 218 customer car parking spaces to the front of the units, providing a ratio of
BOSTON SHOPPING PARK – 110,000 SQ FT 1 : 252 sq ft.
Situated 2.5 miles north east of the subject property is this open A1 (including food) consented scheme
The site extends to approximately 4.8 acres (1.9 hectares).
let to TK Maxx, Iceland’s new concept Food Warehouse, Home Bargains, Sports Direct, Card Factory,
Buzz Bingo and vacant units. Rents £6.50 to £15.00 per sq ft. Owned by Hawkstone Developments.
QUEEN STREET RETAIL PARK – 25,000 SQ FT TENURE
Situated 1.5 miles north east of the subject property is this bulky goods consented scheme let to
Halfords, Pets at Home, Bensons for Beds and McDonald’s. Rents £11.00 to £13.50 per sq ft. Owned by Freehold.
Belgravia Investment.
ASSET MANAGEMENT
Complete 15 year reversionary lease to B&M.
Negotiations ongoing with a number of potential operators to take the 5,557 sq ft former Maplin unit.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
Rent review to lower of OMV
1 Dunelm (Soft Furnishings) Ltd 17,650 10/06/2019 09/06/2034 - 10/06/2024 £192,914 £10.93 33%
or 2.0% pac.
Live interest from national
2 Vacant 5,557 £55,570* £10.00 9%
occupiers.
In negotiations to re-gear a 15 year
3 B&M Retail Ltd 31,737 16/04/1991 23/06/2015 - - £344,500 £10.85 58%
lease.
54,944 £592,984 £10.79
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
THE OMAHA PORTFOLIO 13A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
4
TK MAXX AND
HOME BARGAINS
CHESTERFIELD S41 7RW
INVESTMENT SUMMARY
• Chesterfield is located in the East Midlands, circa 12 miles south
of Sheffield and 24 miles north of Derby.
• Adjacent to The Range, Ravenside and Spires Retail Parks are
both within close proximity.
• Large catchment population with 387,381 people living within
the scheme’s 20 minute drive time catchment.
• A circa 38,964 sq ft retail warehouse unit that has been
subdivided into 2 units.
• Let to TK Maxx and Home Bargains.
• Passing rent of £446,250 per annum, reflecting an average rent of
£11.45 per sq ft.
• WAULT of 8.0 years (4.6 years including break option).
• Open A1 (non-food).
• Freehold.
THE OMAHA PORTFOLIO 14T K M A X X & H O M E BA R G A I N S C H E S T E R F I E L D S 41 7 RW
Hotel
B6
D
HAW
05
1
ROA
Markham
Retail
HIP P E R S TR E E T S OUT H
KS L
1
Park
ELD
EY
2b
AV
2a
Y
EN
SHEFFI
NE
ER WA
OAD
El Sub Sta
W
BO
UE
LD
R
RO
ROTH
GTON
79.2m
AD
B6057
Hipper
R ive r
I MIN
FBs
W EST
BR
ASHGATE ROA
D
A61
ASHGATE B6
LO
05
ST
R
FB
OA 1
D
FB
SM
3
53
54
SM
SM
SM
SALTERGAT
B6
Chesterfield Skatepark
E
ST MARY’S GATE
WAY
CHESTERFIELD
9
A61
R
FB
ROTHE
D A 619
ROA
RAVENSIDE RETAIL PARK A632
HA
H HILL
BOYTHOR
ORT MA A63 Y DY
TSW
2 HAD H
ESS
R KHA ILL
OLD RD CHA M ROAD HAD 2
YH
ILL A63
9
A61
A61
ROAD PE
A617
SP I T
AL
1 51
LA
THE SPIRES RETAIL PARK
NE
A6
Observation
Tower
17
D
OA
SUBJECT
BY R
Spire Walk Business Park
Chesterfield
PROPERTY
D ER
Community
WA
HA
BOYTHOR
Fire Station
A6
SL
LTO
17
AN
N
42
D
RO
RO
1
A6
23
AD
PE ROAD
AD
A6
17
DERBY ROAD
15
ST AUGU
SL ANE STINE’S
ROAD
COTE HA
ROA D
W H IT E SLA
ND
RO
AD
LOCATION SITUATION
WALTON
A6
A 61
17
E
S L AN
WHITEC OT E
Chesterfield is located in the East Midlands The subject property is located just south of the
approximately 12 miles south of Sheffield and 24 town centre and is prominently located in the heart
miles north of Derby. The town is strategically of Chesterfield’s main retail warehouse pitch.
located 5 miles from Junction 29 of the M1
motorway, which links north to Yorkshire and south
towards Nottingham. The A619 provides access west
toward the Peak District.
Chesterfield railway station provides direct services
to London St Pancras with a journey time of 1 hour
50 minutes.
THE OMAHA PORTFOLIO 15T K M A X X & H O M E BA R G A I N S C H E S T E R F I E L D S 41 7 RW
RETAIL WAREHOUSING PROVISION IN CHESTERFIELD DESCRIPTION
Adjacent to the subject property, there is a circa 34,963 sq ft unit let to The Range. All the retail warehouse provision in The property comprises a retail warehouse unit of steel portal frame
Chesterfield is within a close cluster. The 3 schemes are: construction that has been subdivided into 2 units.
RAVENSIDE RETAIL PARK - 127,919 SQ FT There are approximately 162 customer car parking spaces to the front of the
To the north of the subject property is a circa 128,000 sq ft open A1 (non-food) retail park let to Next, Currys PC World, units, providing a ratio of 1 : 241 sq ft.
Debenhams, Pets at Home, B&M, Hobbycraft, Poundland, ScS, Bensons for Beds and Asda Living. Rents £17.00 to £27.50 per
The site extends to approximately 3.1 acres (1.3 hectares).
sq ft. Owned by Landsec.
MARKHAM RETAIL PARK - 20,082 SQ FT
To the north of the subject property, this bulky goods consented scheme let to ScS, Bensons for Beds and Jysk. Rents £15.00
TENURE
to £16.50 per sq ft. Owned by CBREGI.
Freehold.
THE SPIRES RETAIL PARK - 173,276 SQ FT
To the rear of the subject property is a circa 104,000 sq ft B&Q and smaller units. Go Outdoors and Xercise4Less.
Owned by Paloma Capital. ASSET MANAGEMENT
Opportunity to remove the TK Maxx tenant break option.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
A TJX UK t/a TK Maxx 25,587 19/11/2012 18/11/2027 19/11/2022 19/11/2022 £306,250 £11.97 69%
B TJ Morris Ltd t/a Home Bargains 13,377 30/04/2013 30/04/2028 - 30/04/2018 £140,000 £10.47 31%
38,964 £446,250 £11.45
THE OMAHA PORTFOLIO 16A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
5
SKEGNESS
RETAIL PARK
SKEGNESS PE25 5EP
INVESTMENT SUMMARY
• Skegness is a popular seaside town in Lincolnshire, 42 miles east of
Lincoln.
• Prominently situated just off the A52, half a mile west of the town
centre.
• Large catchment population with 37,739 people living within the
scheme’s 20 minute drive time catchment.
• 4 retail warehouse units and 1 restaurant totalling 57,579 sq ft.
• Let to B&Q, Currys PC World, Halfords, Poundstretcher and Pizza
Hut.
• Passing rent of £682,625 per annum, reflecting a low average rent of
£11.86 per sq ft.
• WAULT of 6.6 years (5.3 years including break options).
• Open A1 (Non-Food part only).
• Freehold.
THE OMAHA PORTFOLIO 17S K EG N E S S R E TA I L PA R K S K EG N E S S P E 25 5 E P
3.7m
A 52
R OAD
LE E T
WAI NF
A158
BURGH
ROA
D
A158
K
BAN
BU
RG
LINCOL
HR
AN
OA
ROM
D
ROA DN
A52
QUORA RETAIL PARK A1
58
LIN
CO
LN CA
ROA
Dra in
ST
D ra in
D L ET
ON
BL
SKEGNESS VD
SUBJECT
K
LIN
BAN
CO
PROPERTY
ADE
LN
AN
RO
D
ROM
D PAR
A
A52
L ightin g Tow
LEET ROAD
GRAN
WAINF
ers
LUM
LEY
ROA
2 D
A5
D
R OA
ET
LE
INF
Dra in
WA
LOCATION SITUATION
Skegness is a popular seaside town in Lincolnshire, Skegness Retail Park occupies 2 sites either side of
East Midlands. It is located approximately 39 miles Heath Road, just off Wainfleet Road (A52) and is half
south of Grimsby and 42 miles east and of Lincoln. a mile west of the town centre.
The A52 runs through the town centre, connecting
Skegness to Boston to the south and the A158
is accessed to the west of the town centre and
provides direct access to Lincoln and Grimsby.
THE OMAHA PORTFOLIO 18S K EG N E S S R E TA I L PA R K S K EG N E S S P E 25 5 E P
RETAIL WAREHOUSING DESCRIPTION TENURE
PROVISION IN SKEGNESS The property comprises 5 modern retail warehouse units of steel Freehold.
portal frame construction. The scheme is separated by Heath
Skegness Retail Park is one of 2 schemes in the town, with the
other park being located 1 mile to the north and is summarised
Road, which runs through the centre, with Halfords, B&Q and
Currys PC World on the west side and Pizza Hut and Carpetright
ASSET MANAGEMENT
below:
on the east side.
Opportunities to re-gear the Halfords lease and to remove the
QUORA RETAIL PARK – 63,500 SQ FT There are approximately 228 car parking spaces providing a ratio Currys PC World and Pizza Hut tenant break options.
Open A1 (including food) consented scheme let to Aldi, M&S
of 1 : 255 sq ft.
Foodhall, B&M and Jollyes. Rents £10.00 to £14.00 per sq ft.
Developed in 2017 and owned by the London Borough of The site extends to approximately 7.1 acres (2.9 hectares).
Newham.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
A B&Q plc 28,054 24/06/2000 23/06/2025 - 24/06/2020 £310,000 £11.05 46%
B Halfords Ltd 6,713 29/09/2001 28/09/2021 - - £86,125 £12.83 13% Tenant mezzanine 947 sq ft.
TBO 28/03/2023. 6 months notice
DSG Retail Ltd
C 10,383 28/03/2018 27/03/2028 28/03/2023 28/03/2023 £132,000 £12.71 19% required. Tenant mezzanine 1,476
t/a Currys PC World
sq ft.
D Poundstretcher Ltd 8,199 12/09/2005 11/09/2030 - 12/09/2020 £105,000 £12.81 15% Tenant mezzanine 163 sq ft.
TBO 25/03/2025. 6 months notice
required. Recently removed TBO
E Pizza Hut (UK) Ltd 4,230 25/03/2005 24/03/2030 25/03/2025 25/03/2020 £49,500 £11.70 7%
25/03/2020 for 9 months’ rent free
from 29/09/2019.
57,579 £682,625 £11.86
THE OMAHA PORTFOLIO 19A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
6
ASHTON
RETAIL PARK
ASHTON-UNDER-LYNE OL6 6DJ
INVESTMENT SUMMARY
• Ashton-under-Lyne is an attractive market town located
approximately 5 miles east of Manchester city centre.
• Ashton Retail Park is situated adjacent to the IKEA superstore and
opposite the Ashton-under-Lyne Tram stop.
• Large catchment population with 392,731 people living within the
scheme’s 20 minute drive time catchment.
• 7 retail warehouse units totalling 33,883 sq ft.
• Fully let to Pure Gym, Barnardo’s, Jollyes, Poundstretcher, Subway,
Quality Pet Care and National Tyre Service.
• Adjacent to a Buzz Bingo, a large IKEA and an Aldi.
• Passing rent of £421,936 per annum, reflecting an average rent of
£12.45 per sq ft.
• WAULT of 5.1 years (2.9 years including tenant break options).
• Predominantly Open A1 (Food and Non-Food) and D2 (Leisure) in
respect of part.
• Freehold.
THE OMAHA PORTFOLIO 20A S H TO N R E TA I L PA R K A S H TO N - U N D E R- LY N E O L 6 6 D J
NEWM
ARKET
RD
A 62
7
1 26
HENRIETTA
O LD
50
TR E E T
WINT ON S
STREET
HAM
5
YO R K S HIR
R
Depot
OAD
E S TR E E
SUBJECT
1
SP
ET
T
3 2
Ramp
RE
PROPERTY ES
ST
LE
Tks
Subway
D
OA
MP 6.25
YR
TURNER
A62
LE
El Sub Sta
SS
MO
FBs
7
War d
Ashton-under-Lyne Station
RD
A6 WELLINGTON R 70
14 A6043 OAD A6
A6 14 0 0
AD
N WAY
D SHELDO
A
Ashton-under-Lyne 67
RO
M60 LOR Metrolink Tram Stop
0
EY
OL D H A
SL
YOR K S HIR
A6
OS
140
110.4m
M
27
0
A6
1 08
MR
A67
E S TR E E
9
4
1
P
B6
CA
OA
Ashton Retail Park 98
T
VE
ESS
D
ND
ASHTON RADE STAM
PA RK PA
110
FORD
ISH
A62
ST EAST
U N D E R LY N E DE
108.0m
ARA
STR
7
140 KP
A6 PAR
EET
107.5m
A 6 35
107.3m
M60
B 6 17 0
E
AD
Bus Station
108.1m
CA
PAR
Ashton-under-lyne
K
VE
PAR
107.4m (Tram)
A635
ND
IS
LC
R OA D
D
H
N
OA
ING TO
WE LL
ST
R R
STE
AD
RE
HE
ET
LC
NC
RO
MA
RIVERS
D
OA
RT
SCENT R
PO
CK
I
J23
DE
2
STO
AD B64
K RO
KING
CRE
4 5
8
35 PAR
A6 SNIPE RETAIL PARK
STRE
17
os ts
As s
A60
h e to
AS
ET
1 0 to
SH
nH
CLO
E TO
99
ou
O
S
LOCATION SITUATION
Ashton-under-Lyne is an attractive market town Ashton Retail Park is situated adjacent to an IKEA
located approximately 5 miles east of Manchester and an Aldi and is prominently located on the
city centre, 16 miles south west of Huddersfield and intersection of the A6140 running east to west, and
28 miles west of Sheffield. The town is within close the A627 running north to south.
proximity to Junction 23 of the M60 motorway.
Ashton-under-Lyne is serviced by the Metrolink
Tram service and the station is situated directly
opposite Ashton Retail Park and provides a journey
time to Manchester Piccadilly of 35 minutes.
THE OMAHA PORTFOLIO 21A S H TO N R E TA I L PA R K A S H TO N - U N D E R- LY N E O L 6 6 D J
RETAIL WAREHOUSING PROVISION DESCRIPTION TENURE
IN ASHTON-UNDER-LYNE The property comprises 7 retail warehouse units of steel Freehold.
portal frame construction, arranged in a linear terrace and one
In addition to Ashton Retail Park and the IKEA superstore, there is
the Snipe Retail Park and a standalone B&M store both situated at
standalone unit. There is an additional unit at the end of the
terrace that is occupied by Buzz Bingo, but this falls outside of
ASSET MANAGEMENT
Junction 23 of the M60 motorway, 2.5 miles to the south west of
the ownership.
the subject property: Complete the 5 year reversionary lease to Jollyes.
There are approximately 185 customer car parking spaces within
SNIPE RETAIL PARK – 242,000 SQ FT Opportunity to remove the Quality Pet Care and Pure Gym
the site ownership, with approximately 41 of these spaces to the
Open A1 (non-food) consented scheme let to B&Q, Next, Currys tenant break options.
front of the Buzz Bingo unit. Based on the remaining 144 spaces, it
PC World, Dunelm, Halfords, Pets at Home, Home Bargains,
provides a ratio of 1 : 235 sq ft.
Carpetright, Wren, Harveys and McDonald’s. Rents £11.50 to £23.50
per sq ft. Owned by Orchard Street Investment Management.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
1 Buzz Group Ltd - - - - - £0 - - Outside of ownership.
Gala Bingo smoking shelter. Annual RPI linked
Buzz Group Ltd - 29/09/2009 28/09/2024 - 28/09/2020 £13,605 - 3%
rent reviews.
Leonard F Jollye (Brookmans Park)
2a 6,140 16/12/2010 15/12/2020 - 16/12/2015 £93,078 £15.16 22% In discussions for a 5 year lease extension.
Ltd t/a Jollyes
Stepped rent increases 01/2020 = £71,632 and
2b Pure Gym Ltd 7,886 20/01/2015 19/01/2030 20/01/2025 20/01/2020 £71,632 £8.26 17%
01/2025 = £78,795.
3a Poundstretcher Ltd 8,051 28/02/1997 27/02/2022 - 28/02/2017 £70,000 £8.69 17%
3b Barnardo’s 1,135 23/10/2014 22/10/2024 - 23/10/2019 £40,000 £35.24 9%
3c Subway Realty Ltd 1,752 25/11/2008 24/11/2023 - 25/11/2018 £34,780 £19.85 8%
4 Quality Pet Care Ltd 4,146 12/12/2017 11/12/2032 11/12/2022 12/12/2022 £59,841 £14.43 14% TBO’s years 5 and 10.
5 National Tyre Service Ltd 4,773 30/10/1996 29/10/2021 - - £39,000 £8.17 9%
33,883 £421,936 £12.45
THE OMAHA PORTFOLIO 22A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
7
BLYTH VALLEY
RETAIL PARK
BLYTH NE24 5TP
INVESTMENT SUMMARY
• Blyth is the largest town in Northumberland, circa 14 miles north of
Newcastle.
• Prominently situated fronting Cowpen Road (A189) adjacent to an Aldi
foodstore.
• Large catchment population with 354,285 people living within the
scheme’s 20 minute drive time catchment.
• 6 retail warehouse units & a drive-thru restaurant totalling 53,661 sq ft.
• Let to Homebase, Jollyes, Bensons for Beds, Carpetright, Storey
Carpets and KFC.
• Opportunity to develop an A3 pod unit.
• Passing rent of £698,111 per annum, reflecting an average rent of
£13.01 per sq ft.
• WAULT of 5.2 years.
• Predominantly Bulky Goods A1 (Non-Food) and Drive Thru Fast Food
in respect of part. A certificate of lawful use was obtained in July 2017
which states that the use of the premises for any retail use within A1
use class is lawful (excluding Homebase).
• Freehold.
THE OMAHA PORTFOLIO 23B LY T H VA L L E Y R E TA I L PA R K B LY T H N E 24 5 T P
Mast
(Telecommunication)
El Sub Sta
River Blyth
A189
A1147
OA D
TON R
C ONIS
3 31
B1
ESS
Tank
4
SUBJECT
Bentley Court
3 1
B13
River Blyth
PROPERTY
2
5
1
A 1 89
4 a nd 5
1
COWPEN
A 1 93 B13
2
CO
D
EN ROA
Blyth Valley
COWP
WPE
5a
Retail Park A193
N
COWPEN RO AD
ROA
A189
D
Blyth Valley
Retail Park BEBSIDE 93
A 19 3
A1
A19 3
T
EE
TR
TS
ON
FR
93
A1
A1 8
Gas Gov
B E E C HE
9
El
Sub Sta
R S TR E
6.5m
T E
D
A
RO
D
E N R OA
C OW P
M
SHA
20 4
A189
NEW
Shelter 5 to 8
LOCATION SITUATION
6
1 3 to 1
1 7 to 20
1 to 4
29 to 3 2 Edendale
ks Court
9 to 1 2
Th e Oa
21 to 24
1 26
26 to 37
Edendale
Court
Blyth is the largest town in Northumberland and Blyth Valley Retail Park is located 1.5 miles west of the
25 to 28
14 to 25 57
forms part of Newcastle’s commuter belt, being town centre, prominently positioned on Cowpen Road
14 miles north of the city, 4 miles north east of (A189). There is an Aldi foodstore adjacent to the park.
Cramlington and 10 miles south east of Morpeth.
Blyth is located 10 miles from the A1, which links north
to Scotland and south towards Newcastle and the
national motorway network beyond.
Newcastle train station provides direct rail services
to London and Edinburgh with a fastest journey
time of 2 hours 52 minutes and 1 hour 28 minutes,
respectively.
THE OMAHA PORTFOLIO 24B LY T H VA L L E Y R E TA I L PA R K B LY T H N E 24 5 T P
RETAIL WAREHOUSING DESCRIPTION ASSET MANAGEMENT
PROVISION IN BLYTH The property comprises 6 retail warehouse units of steel portal Carpetright have served notice to activate their tenant break
frame construction, arranged in 2 perpendicular terraces, together option in April 2020. There is demand from national retailers to
There is 1 other retail park located approximately half a mile to
with a drive-thru restaurant. take a circa 15,000 sq ft unit combining the existing Carpetright
the south east:
and Storey Carpets units.
Customer access and egress is from Cowpen Road and this is
ALBION RETAIL PARK - 35,868 SQ FT shared with the Aldi supermarket. There are approximately 274 Opportunity to develop a new A3 pod unit.
Open A1 retail park of 4 units occupied by B&M, Frank’s the
car parking spaces providing an excellent ratio of 1 : 196 sq ft.
Flooring Store and 2 vacant units (formerly Lidl and Brantano). Good levels of interest in the Homebase unit due to its
B&M pay a rent equating to £6.50 per sq ft on 16,000 sq ft. The site extends to approximately 5.36 acres (2 hectares). monopoly position in the town.
TENURE
Freehold.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT )
Leonard F Jollye (Brookmans Park)
1 6,023 25/03/2008 24/03/2023 - 25/03/2018 £84,098 £13.96 12%
Ltd t/a Jollyes
Steinhoff UK Group Properties Ltd
2 5,013 25/03/2007 24/03/2022 - - £67,500 £13.46 9%
t/a Bensons For Beds
Carpetright have served notice to
3 Carpetright plc 5,005 25/09/2007 24/09/2022 26/04/2020 - £50,625* £10.11 7%
action their 04/2020 TBO.
4&5 Storey Carpets Ltd 10,078 25/03/2007 24/03/2022 - - £130,988 £13.00 19%
Category 1 in CVA. Tenant
6 HHGL Ltd t/a Homebase 25,646 16/04/2007 15/04/2027 - 16/04/2022 £325,000 £12.67 47%
mezzanine 9,713 sq ft.
Kentucky Fried Chicken (Great Underlet to Alderforce North Ltd
7 1,896 18/05/2007 17/05/2032 - 18/05/2017 £39,900 £21.04 6%
Britain) Ltd on 29/04/2013.
Sub Station Northern Powergrid (Northeast) Ltd - 12/04/2007 11/04/2067 - - £0 - -
53,661 £698,111 £13.01
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
THE OMAHA PORTFOLIO 25A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
8
PEEL RETAIL PARK
DUMFRIES DG1 3PF
INVESTMENT SUMMARY
• Dumfries is located in South West Scotland, 33 miles north west of
Carlisle.
• Prominently situated fronting Lockerbie Road, adjacent to a Tesco
supermarket.
• Large catchment population with 57,347 people living within the
scheme’s 20 minute drive time catchment.
• The nearest retail centre is Carlisle, which is 33 miles away.
• 6 retail warehouse units totalling 85,442 sq ft.
• Let to Matalan, Pets at Home, Sports Direct, TK Maxx, B&M and
one vacant unit.
• Passing rent of £1,064,342 per annum, reflecting an average rent
of £12.46 per sq ft. Includes a rental top up on the vacant unit of
£11.00 per sq ft.
• WAULT of 4.7 years (4.3 years including break options) excluding
available unit.
• Live planning permission for an A3 pod unit and terms agreed with
Costa.
• Open Class 1 (Non-Food) Retail Use.
• Heritable title (the Scottish equivalent of English freehold).
THE OMAHA PORTFOLIO 26P E E L R E TA I L PA R K D U M F R I E S D G 1 3 P F
11
A7
15
5
10
16
5
A7
Playground
7
19
A7
1
A70
5
y
Bd
GL
3
a rd
W
5
t&
AS
8
s
C
on
AR
C
A7
Fountainbleu
GO
o
LY
C
5
LE
PL
5
2
WR
AC
A7
6
4
E 10
OA
1
A7
RD
D
1b
5
H
A709
RG
A75
1a
3
BU
8
CA
IN
1 RL
9
YL
ED
E
A709
3
3
4
CO
5
UR
1
A7
A7
01
LE
T
A7
DUMFRIES RETAIL PARK
6
RO
A7
AD Shelter
5
2
GLAS
AD
4
5
y
Bd
H RO
d
09
ar
W
GOW
1
A7
Shelter
UR G
dy
tB
ST
ns
Co
9
CUCKOO BRIDGE
INB
Co
A709
RETAIL PARK
ED
C
AR
OA D
7
RBIE R
LY
LE
CKE
GLA
Dumfries LO
SUBJECT
10
DR
A7
5
IV
SGO
E
PROPERTY
LO
WS
A780
R
H ST ANNAN ROAD
EB
A780
TR E
UC
8
LE
UR
VACANT
ST
ANN A
CC
ET
H N ROA
NS
BU L IS D
NG ANNAN ROA
y
Bd
E D
T
a rd
80 W A7 8 0
A7
W
HI
t&
TE 6
s
DUMFRIES A75
on
C
SA
o
C
ND
1
ef
S
D
S
1
1 7 80
ND
8
AD
LA
17 El Sub Sta
RO
17 6
SS
4
S
CA
A7
a in
M
Dr
OO
81
BR
16
RD
16 8
GLAS
16 6
CAST LE DOU
16 4
2
56
16
15 0
A7
6 15
15 8 1 7. 1 m
4
AD
BS
5
E
RO
3 Yarra
AV
Bank 16.2m
TIE
G
Tra ck
N CE
EAT
L OANIN
S TOOP
SA
16
LB EA
PL
m
DA
Ha rma rjoy
STOOP
LOCATION SITUATION
Dumfries is the commercial and administrative centre Peel Retail Park is prominently located on Lockerbie
of the Dumfries & Galloway council area in South Road (A709), 1 mile east of the town centre and
West Scotland. The town is located 79 miles south adjacent to a circa 65,000 sq ft Tesco supermarket.
west of Edinburgh, 77 miles south of Glasgow and 33
miles north west of Carlisle.
Dumfries train station provides direct rail services
to Carlisle and Glasgow with journey times of 39
minutes and 1 hour 44 minutes, respectively.
THE OMAHA PORTFOLIO 27P E E L R E TA I L PA R K D U M F R I E S D G 1 3 P F
RETAIL WAREHOUSING PROVISION IN DUMFRIES TENURE
The subject property is the only open class 1 (non-food) retail park in Dumfries. There are 2 other parks situated opposite each Heritable title.
other adjacent to the junction of the A75 and the A76 approximately 1 mile north west of the town centre:
CUCKOO RETAIL PARK – 128,400 SQ FT ASSET MANAGEMENT
Bulky goods consented park let to B&M, Homebase, Dunelm, Dreams, Laura Ashley, Poundstretcher and Storey Carpets.
Rents £8.90 to £18.50 per sq ft. Owned by NewRiver. Adjacent to a Tesco Extra. Discussions ongoing with a number of potential operators to take the 7,492 sq
ft, former Poundworld unit.
DUMFRIES RETAIL PARK – 85,600 SQ FT
Restricted A1 consented park let to Wickes, Currys PC World, Home Bargains, Harveys / Bensons for Beds, Carpetright, Opportunity to remove the TK Maxx tenant break option.
Carpet Ways and Greggs. Rents £9.15 to £13.00 per sq ft. Owned by Merseyside Pension Fund.
There is a potential development site at the entrance to the site that could be
sold off. Negotiations ongoing.
DESCRIPTION Live planning permission for an A3 pod unit and terms agreed with Costa.
The property comprises a single terrace of 7 retail warehouse units that are of steel portal frame construction.
Customer access and egress is from the A709 and this is shared with the Tesco supermarket. There are approximately 391 car
parking spaces providing an excellent ratio of 1 : 218 sq ft.
The site extends to approximately 8.63 acres (3.5 hectares).
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
1 Matalan Retail Ltd 35,158 16/09/2002 15/09/2022 - 16/09/2017 £376,830 £10.72 35% Tenant mezzanine 4,384 sq ft.
2 Vacant 7,492 - - - - £82,412* £11.00 8%
10% management fee cap on service
3 Pets at Home Ltd 7,549 31/03/2003 30/03/2028 - 31/03/2023 £117,000 £15.50 11%
charge.
4 SportsDirect.com Retail Ltd 10,016 25/02/2013 24/02/2023 - 25/02/2018 £175,000 £17.47 16% Tenant mezzanine 9,225 sq ft.
5&6 TJX UK t/a TK Maxx 17,640 16/09/2002 15/09/2027 15/09/2025 16/09/2022 £200,000 £11.34 19% Tenant mezzanine 6,764 sq ft.
7 Opus Homewares Ltd t/a B&M 7,587 31/03/2003 30/03/2028 - 31/03/2013 £113,100 £14.91 11% Guaranteed by B&M Retail Ltd.
85,442 £1,064,342 £12.46
*Vendor to provide a 2 year rent, business rates and service charge guarantee.
THE OMAHA PORTFOLIO 28A W E L L L E T, H I G H Y I E L D I N G R E TA I L WA R E H O U S E PORTFOLIO
9
WICKES AND B&M
DEWSBURY WF12 8AB
INVESTMENT SUMMARY
• Dewsbury is a market town in West Yorkshire, approximately 11
miles south west of Leeds.
• Situated to the south of the town centre, prominently positioned
in the town’s retail warehouse pitch.
• Large catchment population with 264,912 people living within the
scheme’s 20 minute drive time catchment.
• 2 retail warehouse units totalling 39,763 sq ft.
• Let to Wickes and B&M.
• Opportunity to re-gear the leases.
• Passing rent of £341,792 per annum, reflecting an average rent of
£8.60 per sq ft.
• WAULT of 3.4 years.
• Open A1 (Non-Food).
• Freehold.
THE OMAHA PORTFOLIO 29BRADFORD R
RO
HA
S
W I C K E S A N D B & M D E WS B U RY W F 1 2 8A B
ED
LIF
LE
AX
RO
53
AD
A6
A6
A652
38
HA
LI
FA
X
48
RO
AD AD
ESS
RO
DEWS DS
BU LEE
B61
RY
53
AD
17
RI
NG A6
54
RO
RO
G
RIN
AD
37.2m
RY
37.8m
Dewsbury
HE C
U
Car Park
SB
KM
W
OA D
DEWSBURY
DE
LINK R
ON
A6
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A V IL
LOCATION SITUATION
Dewsbury is an attractive market town in West The subject property is situated to the south of the
Yorkshire, approximately 11 miles south west of town centre, prominently located on the B6409,
Leeds, 11 miles south east of Bradford, 9 miles north which is just to the south of the A638, which runs
east of Huddersfield and 6 miles west of Wakefield. east to west through Dewsbury town centre.
The town occupies a strategic position where the M1
and M62 motorways meet. The closest motorway
links are Junction 40 of the M1 and Junction 27 of the
M62. The A638 passes through the town centre and
links the M1 and the M62.
Dewsbury railway station provides regular services
to Leeds with a journey time of 15 minutes and
connects with the local rail network.
THE OMAHA PORTFOLIO 30W I C K E S A N D B & M D E WS B U RY W F 1 2 8A B
RETAIL WAREHOUSING PROVISION DESCRIPTION TENURE
IN DEWSBURY The property comprises 2 retail warehouse units of steel portal Freehold.
frame construction.
All of the town’s retail warehousing provision is within close
proximity to the subject property and there are no vacancies. There are a total of approximately 101 customer car parking spaces ASSET MANAGEMENT
There are a number of solus units let to Sports Direct, B&Q, at the property. Approximately 49 are serving B&M and 52 are
Screwfix, Carpetright and Farmfoods and the following scheme: serving Wickes. Opportunity to re-gear the existing occupational leases.
RISHWORTH CENTRE AND RAILWAY STREET RETAIL The overall parking ratio is 1 : 394 sq ft.
PARK – 92,000 SQ FT
The site extends to approximately 2.2 acres (0.9 hectares).
This scheme has an open A1 (part-food) consent and is let to
Matalan, Halfords, Poundstretcher, Next, Pets at Home, Clarks and
Iceland. Rents £11.17 to £15.83. Owned by NewRiver.
TENANCY SCHEDULE
CURRENT RENT
GIA LEASE LEASE TENANT NEXT RENT % OF
UNIT TENANT COMMENT
(SQ FT) START EXPIRY BREAK REVIEW INCOME
(PER ANNUM) (PER SQ FT)
A Wickes Building Supplies Ltd 20,800 13/09/2017 12/09/2022 - - £176,792 £8.50 54%
B B&M Retail Ltd 18,963 10/03/2014 09/03/2024 - 09/05/2019 £150,000 £7.91 46%
39,763 £326,792 £8.22
THE OMAHA PORTFOLIO 31MILES MARTEN JACK LLOYD AVISON YOUNG T 020 7317 3777 T 020 7317 3796 22 Ganton Street M 07770 748 290 M 07747 883 231 London E miles.marten@avisonyoung.com E jack.lloyd@avisonyoung.com W1F 7FD MISREPRESENTATION NOTICE. Avison Young give notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not intended to constitute part of an offer or contract. 2. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement of representation or fact. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure show only certain parts of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore, no assumptions should be made in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. Where there is reference in the particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property, this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by an intending purchaser. 7. Descriptions of the property are inevitably subjective and the descriptions contained herein are given in good faith as an opinion and not by way of statement of fact. Plans are published for convenience of identification only and although believed to be correct, their accuracy is not guaranteed and they do not form part of any contract. January 2020. Designed and produced by Creativeworld. T: 01282 858200.
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