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
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.
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
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.
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.
