UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY STOKE-ON-TRENT ST1 1NS - ON BEHALF OF THE JOINT LPA RECEIVERS - NovaLoca
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ON BEHALF OF THE JOINT LPA RECEIVERS UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY STOKE-ON-TRENT ST1 1NS
KEY FEATURES
Prominent High Street Retail Investment
Let to Max Spielmann, EE, Holland & Barrett and Sharps
Bedrooms
Producing £197,000 per annum : 4 year WAULT
Offers invited in excess of £1,600,000 : 11.6% NIY
LOCATION
Hanley is one of six major towns which together form the city of
Stoke-on-Trent, renowned as the home of the UK pottery industry.
This historic industrial town is the main commercial centre of the
city and home to the Intu Potteries Shopping Centre, Potteries
Museum & Art Gallery, Victoria Concert Hall and Regent Theatre.
The city is located between Birmingham and Manchester, linked
to Junctions 15 & 16 of the M6 Motorway by the A500, which Source: Bing Maps
connects to Hanley via the A50 (Potteries Way), A52 and A53. Upper Market Square is in the centre of Hanley's pedestrianised retail
area, situated close to the entrance to the Intu Potteries Shopping Centre.
Stoke Railway Station is a mainline station on the West Coast
Main Line, providing services to Manchester (40 minutes), Nearby occupiers include Marks & Spencer, Boots, Greggs, Costa Coffee,
Birmingham (50 minutes) and London Euston (1 hour 47 minutes). JD Sports, Poundland and several high street banks.
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
DESCRIPTION
The property comprises a parade of four high street retail units which form part of an island, positioned between Market Square, Upper
Market Square, Tontine Square and Fountain Square; which together form the centre of Hanley’s pedestrianised retail area.
The property is of brick construction set over two and three storeys with flat felted roofs and features a canopy above the shop fronts of Units
4, 6 and 8. Unit 10/12 has a rendered frontage and is split level internally, including a basement level.
The units are situated next to the entrance to the Intu Potteries Shopping Centre and opposite Marks & Spencer, Boots and Poundland.
Unit / Tenant Floor Space Sq M Sq Ft
Retail Sales 26.29 283
Unit 4
ITZA 25.08 270
Max
Storage/Ancillary 46.73 503
Spielmann
Sub-Total 73.02 786
Retail Sales 54.35 585
Unit 6 ITZA 43.66 470
EE Storage/Ancillary 78.13 841
Sub-Total 132.48 1,426
Retail Sales 80.08 862
Unit 8
ITZA 57.23 616
Holland &
Storage/Ancillary 93.46 1,006
Barrett
Sub-Total 173.54 1,868
Retail Sales 56.21 605
ITZA 52.49 565
Unit 10/12
Storage/Ancillary 78.04 840
Sharps
Basement 46.92 505
Sub-Total 134.25 1,950
Total NIA 513.29 6,030
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
TENURE
The property is held Freehold, comprising title numbers SF448227 (Units 4, 6 & 8) and SF522489 (Unit 10/12).
TENANCIES
Unit 4: let to Max Spielmann Limited on a 10 year FRI lease from 25 December 2014 at a current passing rent of £21,500 per annum. The lease
is subject to a Tenant’s Break Option on 25 December 2019.
Unit 6: let to T Mobile (UK) Retail Limited on a 15 year FRI lease from
02 February 2004 at a current passing rent of £65,000 per annum.
The Tenant’s Guarantor is EE Limited (formerly T Mobile (UK) Limited).
Unit 8: let to Holland & Barrett Retail Limited on a 10 year FRI lease
from 29 September 2011 at a current rent of £80,500 per annum.
Unit 10/12: let to Sharps Bedrooms Limited on a 5 year FRI lease from
17 August 2016 at a current passing rent of £30,000 per annum.
Summary
Total Rent £197,000 per annum
Avg. Unexpired Lease Term 3.95 years
Weighted Avg. Unexpired Lease Term 4.01 years
Unit Tenant Term (years) Lease Expiry (Break) Unexpired Term (years) Rent (per annum)
4 Max Spielmann Ltd 10 24/12/2024 (24/12/2019) 3.29 £21,500
6 T Mobile (UK) Retail Ltd, t/a EE 15 24/03/2019 2.53 £65,000
8 Holland & Barrett Retail Ltd 10 28/09/2021 5.05 £80,500
10/12 Sharps Bedrooms Ltd 5 16/08/2021 4.93 £30,000
TOTAL Avg. 3.95 years £197,000
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
COVENANT INFORMATION
Max Spielmann is the UK’s leading specialist photo service chain, with 340 stores providing a range of digital
and analogue printing, photo and video services. The company is part of the Timpson Group, which is the UK’s
leading retail service provider, employing over 3,400 people across 1,325 stores and over 100 franchises.
www.maxphoto.co.uk / www.timpson.co.uk
Max Spielmann Limited is UK registered (06776700) and as at 26 Sep-15 had an annual turnover of £15.486m,
tangible net worth of £8.275m and a Dun & Bradstreet financial risk assessment of 3A1.
T-Mobile is part of EE, which is the largest digital communications company in Britain with approximately 553 stores and over 31 million
connections across mobile, fixed and wholesale networks; and earlier this year became part of the BT Group, which is one of the world’s
leading communications services companies. www.ee.co.uk / www.btplc.com
EE Limited is UK registered (02382161) and as at 31 Dec-15 had an annual turnover of £6.311bn. The company has a Dun & Bradstreet
financial risk assessment of N1, indicating negative net worth but minimum risk of business failure.
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
COVENANT INFORMATION
Holland & Barrett is the UK's leading retailer of vitamins, minerals and herbal supplements, with over 620 stores and more than 145 years of
experience in the health supplement industry. www.hollandandbarrett.com
Holland & Barrett Retail Limited is UK registered (02758955) and as at
30 Sep-15 had an annual turnover of £424,662,000, tangible net worth
of £326,224,000 and a Dun & Bradstreet financial risk assessment of
5A1, indicating minimum risk of business failure.
Sharps is the UK’s leading fitted bedroom furniture and home office specialist, with 111 showrooms nationwide providing made to measure
fitted and sliding wardrobes, co-ordinating furniture and home office workspaces. www.sharps.co.uk
Sharps Bedrooms Limited is UK registered (07685430) and as at 27 Sep-15 had an annual turnover
of £75,553,000. The company has a Dun & Bradstreet financial risk assessment of N1, indicating
negative net worth but minimum risk of business failure.
ENERGY RATING
Unit Rating
4 97 (Band D)
6 78 (Band D)
8 110 (Band E)
10/12 108 (Band E)
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
PROPOSAL
Offers are invited in excess of £1,600,000, reflecting a net initial yield of 11.6% after purchaser’s costs of 6.14%.
The property may be available in two parts; being Units 4, 6 & 8 (Max Spielmann, EE, Holland & Barrett) and Unit 10/12 (Sharps) respectively.
Offers are invited on this basis also and the Receivers reserve the right to transact on whichever basis they consider appropriate.
VAT
The property is elected for VAT, although it may be possible to treat the transaction as a Transfer of a Going Concern (TOGC).
LEGAL COSTS
Each party will be expected to bear their own legal costs.
FURTHER INFORMATION
For further information, please go to
SUBJECT TO CONTRACT
http://uppermarketsquare-hanley.com/
or contact: Disclaimer
Colliers International gives notice that these particulars are set out as a general outline only for the guidance
of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given
Nick Hammond without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as
statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the
Colliers International correctness of each of them. No person in the employment of Colliers International has any authority to make
any representation or warranty whatsoever in relation to this property. 12/09/2016
Main: 0121 265 7500
Direct: 0121 265 7587 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is
a limited liability partnership registered in England and Wales with registered number OC385143. Our
nick.hammond@colliers.com registered office is at 50 George Street, London W1U 7GA.
UNITS 4, 6, 8 & 10/12 UPPER MARKET SQUARE, HANLEY, STOKE-ON-TRENT ST1 1NS
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