180/196 Allerton Road Liverpool Merseyside L18 5HU

180/196 Allerton Road
Liverpool
Merseyside
L18 5HU

Substantial Freehold Retail and Leisure Parade Investment

Substantial retail and leisure parade (circa 44,294 sq ft) currently arranged as 7 retail units, a retail warehouse, 2 public houses and a gym
Tenants include Subway, Betfred, Anytime Fitness and Hops Pub Company
On-site car parking for approximately 56 cars
Prominent corner position fronting Allerton Road in popular Liverpool suburb
Nearby occupiers include Iceland, Specsavers, Costa Coffee and Barclays Bank

Lot
19
Auction
24th October 2019
Rent
£405,415 per Annum Exclusive
Status
Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Major Fund Manager

Important Update

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Substantial Freehold Retail and Leisure Parade Investment

Substantial retail and leisure parade (circa 44,294 sq ft) currently arranged as 7 retail units, a retail warehouse, 2 public houses and a gym
Tenants include Subway, Betfred, Anytime Fitness and Hops Pub Company
On-site car parking for approximately 56 cars
Prominent corner position fronting Allerton Road in popular Liverpool suburb
Nearby occupiers include Iceland, Specsavers, Costa Coffee and Barclays Bank

Lot 19
Auction 24th October 2019
Rent £405,415 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Major Fund Manager

Property Information

Location

Miles: 4 miles south-east of Liverpool city centre
Roads: A562, M62 (Junction 4)
Rail: Mossley Hill
Air: Liverpool John Lennon Airport

Situation

Allerton is a popular commuter suburb some 3 miles south-east of Liverpool city centre. Allerton Road is a busy mixed use pitch which runs through the affluent suburbs of Mossley Hill and Woolton. The property occupies a prominent position on Allerton Road, close to the junction with the A562, the main arterial route to Liverpool city centre, with Mossley Hill Railway Station nearby. The property benefits from a separate entrance off Garthdale Road. Occupiers close by include Costa Coffee, Iceland, Specsavers and Barclays.

Tenure

Freehold.

Location

Miles: 4 miles south-east of Liverpool city centre
Roads: A562, M62 (Junction 4)
Rail: Mossley Hill
Air: Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey mixed use parade which is currently arranged as 7 retail units, two public houses with a gym located at first floor level. At the rear of the parade is a retail warehouse arranged over ground, first and second floors. Some units benefit from mezzanine levels. The property benefits from a large site area of approximately
1.1 acres (0.445 hectares) and parking for approximately 56 cars from two dedicated car parks located at either end of the parade.

VAT

VAT is applicable to this lot.

EPC

Available in the legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

EPC

Available in the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
180	Ground First	Retail	182.18 sq m 140.28 sq m	(1,961 sq ft) (1,510 sq ft)	ACCELERATE LEARNING CENTRES NW LIMITED	13 years and 5 months from 13/10/2014 until 14/03/202	£33,000	13/10/2019 & 15/03/2023
182	Ground	Retail	86.12 sq m	(927 sq ft)	DONE BROTHERS (CASH BETTING) LIMITED t/a Betfred (1)	10 years from 21/04/2015 until 21/04/2025 (2)	£28,500	21/04/2020
184	Ground Mezzanine	Retail	96.71 sq m 33.45 sq m	(1,041 sq ft) (360 sq ft)	VACANT POSSESSION
186	Ground	Retail	84.45 sq m	(909 sq ft)	TDK CONVENIENCE STORE LIMITED	5 years from 06/10/2017 until 05/10/2022	£28,500
188	Ground	Retail	111.48 sq m	(1,200 sq ft)	SUBWAY REALTY LIMITED (3)	10 years from 29/02/2016 until 28/02/2026 (4)	£26,000	01/03/2021
190	Ground	Retail	87.51 sq m	(942 sq ft)	MIDSHIRES CARE LIMITED t/a Helping Hands (5)	10 years from 15/01/2019 until 14/01/2029 (6)	£27,500 (6)	15/01/2024
192	Ground	Retail	78.41 sq m	(844 sq ft)	INDIVIDUAL - vacant (7)	10 years from 18/01/2018 (7)	£0 (7)
180-196	Ground/ First/ Second	Gym	696.87 sq m	(7,501 sq ft)	NORTH WEST LEISURE LIMITED t/a Anytime Fitness (8)	15 years from 16/03/2018 until 15/03/2033 (9)	£60,000 (9)	16/03/2023
Unit 1 194-196	Ground	Leisure	605.82 sq m	(6,521 sq ft)	HOPS PUB COMPANY LIMITED guaranteed by Town and City Pub Company Limited t/a The John Brodie (10)	25 years from 18/11/1997 until 17/11/2022	£72,000	17/11/2017 (outstanding)
Unit 2 194-196	Ground Mezzanine/ First	Leisure	263.94 sq m 177.91 sq m	(2,841 sq ft) (1,915 sq ft)	BERNHAM LIMITED t/a The Allerton Oak	15 years from 17/04/2018 until 16/04/2033 (11)	£55,000	17/04/2023
Unit 3 194-196	Ground First Second	Retail Retail Retail	563.92 sq m 110.00 sq m 795.99 sq m	(6,070 sq ft) (1,184 sq ft) (8,568 sq ft)	CHANDLERS (LIVERPOOL) LIMITED t/a Chandlers Superstore	10 years from 24/06/2017 until 23/06/2027	£60,000	24/06/2022
Roof Space 180/196	-	-	-	-	EE LIMITED	20 years from 24/03/2004 until 23/03/2024	£6,915	24/03/2019
Roof Space 180/196	-	-	-	-	TELEFONICA UK LIMITED	25 years from 30/05/2012 until 29/05/2037	£8,000
Total			4,193.55 sq m	(44,294 sq ft )			£405,415

(1) Betfred has been one of the most established and respected businesses within the North West and the gambling industry. Betfred is now one of the biggest and most well-known brands on the high street with over 1,600 shops (Source: www.betfred.com/about-us).
(2) The lease provides an option to determine on 21/04/2020.
(3) The Subway brand is the world's largest submarine sandwich chain with more than 44,000 locations around the world (Source: www.subway.com).
(4) The lease provides an option to determine on 28/02/2021.
(5) Helping Hands is a family-run home care provider with 30 years' experience and 100+ branches nationwide (Source: www.helpinghandshomecare.co.uk).
(6) The tenant is currently benefitting from a rent free period due to expire on 15/01/2020. The seller has agreed to adjust the completion monies so the unit will effectively produce £27,500 p.a.x from completion of sale. The lease provides an option to determine on 14/01/2024.
(7) The tenant is not in occupation of the unit and is not paying the contracted rent of £27,600 p.a.x. The lease provides a break option in year 5.
(8) Anytime Fitness opened its first club 16 years ago in Minnesota, USA and is now the world's largest health chain with over 4,500 clubs open in 33 countries and growing (Source: www.anytimefitness.co.uk/own-a-gym).
(9) The lease provides an option to determine on 16/03/2028. For the purpose of clarification, the current passing rent is £48,750 p.a.x.
The lease provides fixed rental increases to £52,500 p.a.x in year 3, £56,250 p.a.x in year 4 and £60,000 p.a.x in year 5. The vendor has agreed to adjust the completion monies so the sale will effectively produce £60,000 p.a.x from the completion of sale.
(10) Hops Pub Company Limited is part of Stonegate, which is the largest privately held managed pub operator in the UK with 660 pubs and bars (Source: www.stonegatepubs.com).
(11) The lease provides an option to determine on 17/04/2028.