NCP Car Park Southport Train Station
Southport
Merseyside
PR9 0TJ

Town Centre Surface Car Park Investment with Annual 3% Rental Increases

  • Let to National Car Parks Limited until 2037 (No Breaks) on a FR&I lease
  • Fixed Annualised rent increase by 3% per annum (rising to 152,447 in 2026)
  • March 2020 rent paid in full
  • Adjacent to Southport Railway Station
  • Comprising 419 car parking spaces,
  • on 2.65 acres
  • Development Potential (right to develop in the Headlease, for any viable commercial use at any time) (1)
  • Lot
    9
  • Auction
    09/Jul/2020
  • Rent
    £127,672 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,700,000 - £1,750,000
  • Sector
    Car Park
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • NCP Car Park Southport Train Station<br>Southport<br>Merseyside<br>PR9 0TJ
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
16 miles north of Liverpool
34 miles north-west of Manchester
42 miles south of Lancaster
Roads
A565, A570, M6, M58
Rail
Southport Railway Station
Air
Liverpool John Lennon Airport
Situation

The coastal resort of Southport with a population of 91,000 is 16 miles north of Liverpool and 34 miles west of Manchester. The Town is at the junction of the A565 & A570 which provides direct links to the M6 Motorway. The property is well located in the town centre adjacent Southport Railway Station on London Street 300 metres from its junction with Lord Street (A565). Occupiers nearby include Asda Superstore, C12 Shopping Park and Marble Place Shopping Centre.

Tenure

Long Leasehold. Held from RT Group Developments Ltd, for 99 years from 14th February 1973 at a ground rent of 170,000 per annum reviewed seven yearly. Under the terms of the occupational lease, the tenant (NCP) pays the vendors ground rent and associated costs.

Description

The property comprises a surface car park with 419 car parking spaces.

VAT

VAT is applicable to this lot.

Planning

The Headlease (Clause 6) provides the site can be developed for any viable commercial use.....at any time during the term. Therefore the site may benefit from future redevelopment, subject to all necessary consents and permissions. Interested Parties are referred to the Headlease within the legal pack & Sefton Metropolitan Borough Council (www.sefton.gov.uk)

Completion Period

Six Week Completion

EPC

see legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorSite Area TenantTermRent p.a.xReviews
Ground
Surfaced Car
Park
1.07 Hectares
(2.65 Acres)
National Car Parks
Limited t/a NCP (2)
34 years and 11 months from
29/06/2002 until 2037 on a full
repairing and insuring lease (3)
£127,672Annual 3% increases
Total
263.55 sq m
  £127,672 (4) 

(2) NCP is the UKs most recognised car park operator with 500 sites providing 150,000 car parking the UK. "NCP have more car parks than anyone else and are socially and ethically responsible. In 2010 we secured 100% of our electricity from green source. Since August 2017, were owned by Park24, a listed Japanese company, and Development Bank of Japan (DBJ). Park24 is the majority owner based in Tokyo and is a major parking operator with 1,043,570 spaces in over 19,000 sites, across 8 countries. DBJ,
co-investor alongside Park24 and a Japanese government-owned financial institution, is a sophisticated private equity investor who also has a strong track record in infrastructure finance." (Source: www.ncp.co.uk) For the period ended 30th September 2018 National Car Parks Limited reported 62,940 customer visits, average number of employees of 1,181 and a Total Turnover of 326,490,000, EBITDAE excluding provision of movements of 25,101,000 and Total Shareholders Funds of 139,922,000.
Park 24 Co. Ltd, the Companys ultimate parent Company has confirmed that it will continue to provide financial support...
(Source: www.beta.companieshouse.gov.uk - 9/06/2020) (see www.park24.co.jp & www.dbj.jp). For further financial information please contact the Auctioneers. (Peter Mayo)
(3) The tenant has an option to extend the lease for a further 20 years
(4) Occupational rent rising from 123,954 per annum on the 29/06/2020 to 127,672 per annum. In addition, NCP pays the Vendors ground rent and all associated costs.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    26.06.20
    File Size
    41 MB
    Login to View
  • Catalogue Page
    Updated Date
    22.06.20
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    22.06.20
    File Size
    857 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter CunliffePeter Cunliffe +44 (0)20 7034 4852 +44 (0)7836 742834peter.cunliffe@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Squire Patton Boggs (UK) LLP Rutland House
148 Edmund Street
Birmingham
B3 2JR
Bhakti Solanki 0121 222 3037bhakti.solanki@squirepb.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now