Unit 2, Denbigh Retail Park Vale Street Denbigh Denbighshire LL16 3EA

Unit 2, Denbigh Retail Park
Vale Street
Denbigh
Denbighshire
LL16 3EA

New Freehold Retail Warehouse Investment

Let to Peacocks Stores Limited until October 2027 (subject to option)
Situated within a newly developed Retail Park anchored by Aldi and Home Bargains
Approximately 468.14 sq m (5,039 sq ft) with an additional 185.81 sq m (2,000 sq ft) mezzanine level
Extensive parking facilities and open A1 Retail planning consent

Lot
26
Auction
28th March 2018
Rent
£65,000 per Annum Exclusive
Status
Sold
Price
£745,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of an Investment Trust

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New Freehold Retail Warehouse Investment

Let to Peacocks Stores Limited until October 2027 (subject to option)
Situated within a newly developed Retail Park anchored by Aldi and Home Bargains
Approximately 468.14 sq m (5,039 sq ft) with an additional 185.81 sq m (2,000 sq ft) mezzanine level
Extensive parking facilities and open A1 Retail planning consent

Lot 26
Auction 28th March 2018
Rent £65,000 per Annum Exclusive
Status Sold
Price £745,000
Sector
Retail Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of an Investment Trust

Property Information

Location

Miles: 0.5 miles east of Denbigh town centre; 16 miles west of Mold; 24 miles north-west of Wrexham; 34 miles west of Chester
Roads: A543, A535
Rail: Prestatyn (London Euston 2 hrs 40 mins)
Air: Liverpool John Lennon

Situation

Denbigh is a historic market town regularly visited by tourists due to its famous 13th century castle, its proximity to the coast, and the Clwydian Range, an Area of Outstanding Natural Beauty. The town has a population of approximately 9,000, with a population in its primary retail catchment area of 28,742. Denbigh Retail Park is the town’s only out of town retail facility and is prominently situated half a mile east of the town centre, adjacent to a Lidl supermarket. Denbigh Retail Park was completed in October 2017 and is anchored by a bespoke Aldi supermarket and Home Bargains. Greenfingers Garden Centre is situated to the rear of the park, while Poundworld, Mencap and Vets4Pets have also agreed terms to take leases within the park.

Tenure

Freehold.

Location

Miles: 0.5 miles east of Denbigh town centre; 16 miles west of Mold; 24 miles north-west of Wrexham; 34 miles west of Chester
Roads: A543, A535
Rail: Prestatyn (London Euston 2 hrs 40 mins)
Air: Liverpool John Lennon

Situation

Tenure

Freehold.

Description

The property comprises a modern semi-detached retail warehouse unit benefiting from open A1 retail planning consent, use of the unallocated car parking throughout the
retail park (194 spaces in total), together with a 2,000 sq ft mezzanine with stair and lift access which is classified as

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Mezzanine	Retail Storage/ Ancillary	468.14 sq m 185.81 sq m	(5,039 sq ft) (2,000 sq ft)	PEACOCKS STORES LIMITED (1)	10 years from 02/10/2017 until 01/10/2027 on a full repairing and insuring lease (2)	£65,000	02/10/2022
Total		653.95 sq m	(7,039 sq ft)			£65,000 (3)

(1) For the year ending 25th February 2017, Peacocks Stores Limited reported a turnover of £382,318,000, pre-tax profits of £65,019,000 and a total net worth of £192,792,000 (Experian Group 26/02/2019).
(2) The lease provides for a tenant only option to determine on 02/10/2022, subject to 6 months’ prior written notice. The lease is full repairing and insuring by way of service charge.
(3) The tenant's rent free period will expire on 5th October 2018. The Seller has agreed to adjust the completion monies so that the property will effectively produce £65,000 p.a.x. from completion of the sale.