The Forum
Market Hall Street
Cannock
Staffordshire
WS11 1EB

Town Centre Retail Investment

  • Substantial shopping centre currently comprising 10 retail units totalling 29,805 sq ft
  • Tenants include Clarks, Dorothy Perkins, Clintons and Shoe Zone
  • Well located on the pedestrianised Market Hall Street
  • Nearby occupiers include Boots, H Samuel, Costa and JD Sports
  • Lot
    64
  • Auction
    24/May/2018
  • Rent
    £290,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    Shopping Centre
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a Major Fund Manager
  • The Forum<br>Market Hall Street<br>Cannock<br>Staffordshire<br>WS11 1EB
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  • Photos
  • Map

Property Information

Location
Miles
10 miles south of Stafford
16 miles north of Birmingham
33 miles south-west of Derby
Roads
A34, A5, M6 Toll (Junction 11)
Rail
Cannock Rail
Air
Birmingham International Airport
Situation

Cannock is a popular market town and one of Staffordshire’s principal commercial centres. The centre is located off the pedestrianised Market Hall Street, diagonally opposite the Cannock Shopping Centre, forming part of the principal retailing area. The property benefits from being within close proximity of Market Hall multi storey car park and Cannock’s main bus station and rail station. The Cannock Shopping Centre houses retailers including Costa Coffee, JD Sports and Poundland. Other nearby occupiers include Boots, H Samuel and Card Factory.

Tenure

Long Leasehold. Long Leasehold. Held by Cannock Chase District Council for a term of 125 years from 28/03/1974 until 28/03/2099 and extended for a further term from 29/03/2099 until and including 31/12/2112 at a peppercorn rent.

Description

The property comprises a shopping centre currently providing 10 retail units on the ground floor with first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReview/
(Reversion)
1AGround
First
Retail
Ancillary
129.32 sq m
67.82 sq m
(1,392 sq ft)
(730 sq ft)
SHOE ZONE LIMITED
t/a Shoe Zone (1)
10 years from
17/07/2009
£52,50017/07/2014
(16/07/2019)
1B/1CGround
First
Retail
Ancillary
105.17 sq m
100.71 sq m
(1,132 sq ft)
(1,084 sq ft)
ANGELPACE LTD
t/a ClarksShoes
15 years less
3 days from
11/12/2002
£54,500Holding Over (2)
2/3Ground
First
Retail
Ancillary
169.83 sq m
90.39 sq m

(1,828 sq ft)
(973 sq ft)

A G RETAIL CARDS
LIMITED t/a Clintons (3)
Approximately
5 years and 6
months from
29/08/2012
£45,000Holding Over (2)
4Ground
First
Retail
Ancillary
566.34 sq m
305.56 sq m
(6,096 sq ft)
(3,289 sq ft)
VACANT
POSSESSION
---
5AGround
First
Retail
Ancillary
189.71 sq m
115.11 sq m
(2,042 sq ft)
(1,239 sq ft)
BONMARCHE
LIMITED
(4) t/a Bonmarché
Approximately
6 years and 4
months from
22/11/2011
£52,500Holding Over (2)
5BGround
First
Retail
Ancillary
86.59 sq m
110.09 sq m
(932 sq ft)
(1,185 sq ft)
VACANT
POSSESSION
---
6Ground
First
Retail
Ancillary
75.81 sq m
33.72 sq m
(816 sq ft)
(363 sq ft)
WARREN JAMES
(JEWELLERS)
LIMITED (5)
t/a
Warren James
15 years from
30/09/2004
£25,500(29/09/2019)
6AGround
First
Retail
Ancillary
48.40 sq m
(521 sq ft)
VACANT
POSSESSION
---
7Ground
First
Retail
Ancillary
67.26 sq m
40.88 sq m
(724 sq ft)
(440 sq ft)
TCCT RETAIL
LIMITED guaranteed
by Thomas Cook Group UK
Limited (6)
t/a Thomas Cook
5 years from
16/02/2015 (7)
£20,000(16/02/2020)
8Ground
First
Retail
Ancillary
245.17 sq m
221.11 sq m
(2,639 sq ft)
(2,380 sq ft)
BURTON/DOROTHY
PERKINS
PROPERTIES LIMITED
(8)
t/a Dorothy Perkins
5 years from
29/09/2014 (9)
£40,000(29/09/2019)
Total
2,768.99 sq m
(29,805 sq ft)
  £290,000 

(1) For the year ending 1st October 2016, Shoe Zone Retail Limited (formerly Shoe Zone Limited) reported a turnover of £159,834,000, pretax profits of £10,410,000 and a total net worth of £30,145,000 (Source: Experian Group 24/04/2018). Shoe Zone operate from a portfolio of over 500 stores and employ approximately 3,750 employees across the UK and the Republic of Ireland (Source: shoezone.com 24/04/2018).
(2) The Vendor is in discussions with the tenant with regards to agreeing a new lease.
(3) Clintons was founded in 1968 and is a leading retailer of greeting cards, gifts and wrap. There are currently circa 360 stores all over the UK (Source: Clintonsretail.com 24/04/2018).
(4) For the year ending 1st March 2017, Bonmarché Limited reported a turnover of £190,068,000, pre-tax profits of £ 5,719,000 and a total net worth of £30,077,000 (Source: Experian Group 24/04//2018). Established in 1982, the Bonmarché business has more than 30 years of experience, operating out of 300+ stores across the UK (Source: Bonmarcheplc.com 24/04/2018).
(5) For the year ending 31st March 2017, Warren James (Jewellers) Limited reported a turnover of £117,201,000, pre-tax profits of £42,689,000 and a total net worth of £93,036,000 (Source: Experian Group 24/04/2018). Warren James is the UK’s largest independently owned jewellery chain with 225 shops (Source: warrenjames.co.uk 24/04/2018).
(6) For the year ending 30th September 2016, Thomas Cook Group UK Limited reported pre-tax profits of £200,000 and a total net worth of £893,200,000 (Source: Experian Group 24/04/2018). Founded 176 years ago, the Thomas Cook Group is the oldest and best known name in leisure travel with 22,000 employees worldwide (Source: thomascookgroup.com 24/04/2018).
(7) A tenant option to determine in February 2018 was NOT EXERCISED by the tenant.
(8) Dorothy Perkins and Burton form part of the Arcadia Group Ltd. Established more than 95 years ago, Dorothy Perkins now has around 400 UK stores and a growing global presence (Source: dorothyperkins.com 24/04/2018). Burton are one of the UK’s largest men's fashion retailers with over 400 stores in the UK and Ireland (Source: burton.co.uk 24/04/2018).
(9) A tenant option to determine in September 2017 was NOT EXERCISED by the tenant

Property Documents

  • Site Plan
    Updated Date
    02.05.18
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    02.05.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regents Street
London
W1B 2AD
Joseph Holder 0207 355 6112jholder@hamlins.co.uk

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