abbey walk retail park | selby...market cross shopping centre abbey walk retail park selby yo8 4dz...

Whitmarsh

Holt

Young

PRIME OPEN A1 (INCLUDING FOOD) TOWN CENTRE RETAIL PARK

ENTER

ABBEY WALKRETAIL PARK | SELBY

YO8 4DZ

DRAFT

INVESTMENT SUMMARY

• Selby is a North Yorkshire town situated some 12 miles south of York and 20 miles east of Leeds.

• Increasingly affluent commuter town with strong demographics.

• The subject property is the dominant town centre retail park anchored by Sainsbury’s and Wilko with an abundance of car parking (1:254 sq ft).

• Let to Sainsbury’s (51%), Wilko (14%), M&Co (14%) and Peacocks (8%).

• The scheme totals approximately 74,431 sq ft.

• Town centre site of approximately 6.6 acres provides a low site cover of 20%.

• Open A1 consent including food.

• The park is well let with an average weighted unexpired term to breaks of 6.6 years and 8.2 years to lease expiry.

• 97% let to D&B 5A1 covenants.

• The passing rent of £967,500 per annum reflects a modest £13.00 psf overall providing strong rental growth potential with a conservative Day 1 ERV of £1,080,822 per annum (£14.50 psf).

• Potential to add value through pro-active management.

• We are seeking offers of £14,630,000 reflecting an initial yield of 6.25%, a reversionary yield of 7% and an equivalent yield of 6.86% allowing for acquisition costs of 5.8%.

ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ

InvestmentConsiderations

Aerial

Location, Demographics& Situation

Description & Accommodation

Retailing

Income, Tenancy & Tenure

Covenant & Further Information


DRAFT

MARKET CROSS SHOPPING CENTRE

ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ



Aerial



Retailing


Covenant & Further InformationABBEY WALK

RETAIL PARK

FINKLE ST

GO

WTH

ORPE

DRAFT


© Crown Copyright 2008. All rights reserved. Licence number 100020449. Plotted Scale - 1:10000

SELBY

SELBY

GOWTHORPE

BRO

OK

STRE

ET

A19

A1041

BON

GATE

COURTNEY’S

WESTBO

URN

E RD

FERNDALE RD

WESTBO

URN

E GR

CRO

FTWAYBRIDLEW

ALK

ARM

OU

RY RD

UNION LN

PORTHOLME RD

PORT HOLME D

R

JAM

ES S

T BACK P

ARK ST

BACK

ST

BAINBRIDGE D

R

FINK

LE

ST

MONK LN

FLAXLEY RD

CHARLES ST

HAIG STMIRKHILL RD

JOHNSON ST

WHITE ST

BULLER ST

KITCHENER ST

HIGH MEA

DOW

CO CKRET RD

KIRBY AVE

HO

LME

LN

MILLGATE

VIVARS WY

FOSTERG

ATE

D’A

RCY

RD

PETRE AVE

VOLTA

ST

BANK RDBRID

GES CT

ABBOT’S RD

CAN

AL

RD

OUSEGATE

THE MO

UNT

BAFFAM L N

FERNDALE RD

PARKWAY

D ANESCROFT

MYRTLE AVE

SuperdrugSpecsaversCard Factory

3 LAKESRETAIL PARKHomebaseArgos, AldiBrantanoHalfordsFrankie & Benny’sMcDonalds

ABBEY WALKRETAIL PARKSainsburysWilkosPeacocksM&Co

WHSmith, O2, Boots,HSBC, Clarks

MARKET CROSSSHOPPING CENTREMorrisonsHome BargainsThomas CookBoots, GreggsHolland & Barrett

LOCATION

Selby is a historic market town in North Yorkshire, home to the famous Abbey founded in 1069. It is 19.5 km (12 miles) south of York and 32km (20 miles) east of Leeds. The property is situated within Selby town centre and provides the dominant retail offering and car park.

Selby train station has a direct rail service to London Kings Cross with an approximate journey time of 2 hours 6 minutes. The nearest airport is Leeds/Bradford 51km (32 miles) to the east.

Selby has a district population of approximately 83,500 (2011) with recent residential expansion for the area as a commuter town for York and Leeds.

DEMOGRAPHICS

The Selby Catchment ACORN profile is significantly (x2) more affluent than the GB average with a high representation of “flourishing families” resident in the area. Employment in the Selby district is concentrated on, retail trade, food and drink manufacturing, tourism and business support services with 71% (2011 census) of the population being economically active. Selby has become an increasingly important commuter town serving both Leeds and York with plans approved for two major residential schemes at Olympia Park and Selby Marina, creating over 1000 new homes. As a consequence the local population is predicted to increase by 35% in the next 15 years and Total Available Comparison Goods spend, which is currently estimated to be £291.9 million, is projected to increase by 181% to £821.94 million by 2027.

SITUATION

The property is situated in Selby Town Centre adjacent to Gowthorpe, the town’s historic high street and prime retail pitch. The property can be accessed via Scott Road to the west, Millgate to the north east and Gowthorpe via a walkway from the south. Abbey Walk forms an integral part of the town centre’s retailing provision and provides the town’s principle car parking provision. As a consequence footfall through the Retail Park is strong. The scheme provides the best configured retail units in Selby with modern rectangular floor plates, opposed to the non-uniform, historically configured retail units on Gowthorpe Road and Finkle Street.

TEESSIDE

LEEDS &BRADFORD

MANCHESTERLIVERPOOL

EASTMIDLANDS

2110

11

25

24

23

22

26

28

29

27

3

1

30

3433 32

31

34

36

35

34

36

37

38

37

38

4

15

23

4

5

47

30

31 3233 34

36

24

25

26

1

27

41

40

39

38

37

23

17

3

2

1

20

21

22

19

31

15

43

5

21

20

54 7

119

25

2423

22

14

12

11 10

56

7

12

98

5

10

16

65

2

543

17

34

16

17

18

19

11

12

13

14

15

3

12

6745

1 32

31

6

8

6

930

27

1312

14

10

78

43

35

33

34

38

37

36

56

57

6

12

7

9

6

2

14

2

4

3

1

2928

43

M1M6

M42M54

M6

M1M53M56

M56

M67

M58

M61

M63M62M62

M62M6

M66

M65

M1

M62

M62

A1(M)

M621

M180

M181

M55

M6

M6

M18

M180

A1(M)

S

S

S

S

SS

S

S

S

S

SS

S

S

A1122

A56

A18A1084

A149

A153

A151

A612

1

A447

A616

A519

A488

A495

A528

A525

A5104

A548

A543

A548

A4212

A6

A6

A593

A684

A6108

A19

A57

A624

A621

A163

A683

A167A168

A684

A169

A164

A1033

A1031

A631

A157

A52

A54

A161

A620

A525

A470

A34

A518

A41

A49

A5

A458

A442

A442

A5

A49

A53

A50

A38

A444

A515

A516

A52

A52

A51

A525

A49

A53A41

A515

A527

A523

A50

A518A51

A53

A54

A50

A530

A533

A534

A52

A6

A38

A6A500A534

A41

A51

A495

A49

A556

A537

A623

A619

A61A537 A619

A458

A483

A470

A60

A6

A55

A629

A628

A62

A58

A646A59

A570

A59

A565

A58A58

A57

A57

A66

A172

A19

A590

A591

A685A595

A590

A6068

A65

A683

A65

A682

A171

A170

A63

A614

A165

A1079

(A163)

A166

(A166)

A165

A64

A164

A1035

A614

A165A614

A160A15

A63

A19

A645

A1041

A159

A15

A631

A46

A46

A16A5

2

A158

A1121

A52

A16

A17

A617

A6097

A46

A52

A607

A52

A606

A1

A631

A156 A158

A16

A607

A614

A170

A1

A168

A19

A59

A64

A61

A59

A59A61

A585

A59

A635

A15

A616

A61 A638

A57

A57

A1

A1A63

A650

A1

A15

A50

A6

A46

A607

A453

A606

A17

A65

A58

A41

A483

A494

A5

A55

A670

A17

A47

A17

A151

A1139

A47

A16

A47

A43

A606

A148

A10

A1101

A47

A1122

A16

A600

3

A46

A42

A458

A5

A494

A5

A470

Brough

Ambleside ScotchCorner

KirkbyLonsdale

Coniston

Sedbergh

Hawes

Queensferry

Connah'sQuay

Caistor

Betws-y-coed

Ffestiniog

Llanrwst

Llanfairfechan

Bala

Mallwyd

Machynlleth

Windermere

Egremont

Richmond

Stokesley

Catterick

Scalby

Settle

Millom

Grange-over-Sands

CarnforthBolton le Sands

Market Weighton

Easingwold

Aldwark

Leyburn

Pickering

Malton

Filey

Withernsea

Drif�eld

Garstang

KirkhamWarton

Hunstanton

Skegness

Sleaford

HolbeachBourne

Brigg

Mablethorpe

Coningsby

Oakham

UppinghamOadby

Barton-upon-

Humber

Hessle

Horncastle

Ollerton

Alfreton

Stapleford

Holywell

Mold Buckley

Thirsk

Market Rasen

IngoldmellsWashingborough

Bakewell

Wirksworth

Ruthin

Denbigh

St Asaph

Llangollen

Ellesmere

Wem

Welshpool

Whitchurch

Ruabon

Middlewich

Winsford

Lymm

Leigh

HolmesChapel

WhaleyBridge

Market Drayton

Llanfyllin

Brough

Ambleside ScotchCorner

KirkbyLonsdale

Coniston

Sedbergh

Hawes

Queensferry

Connah'sQuay

Caistor

Betws-y-coed

Ffestiniog

Llanrwst

Llanfairfechan

Bala

Mallwyd

Machynlleth

Windermere

Egremont

Richmond

Stokesley

Catterick

Scalby

Settle

Millom

Grange-over-Sands

CarnforthBolton le Sands

Market Weighton

Easingwold

Aldwark

Leyburn

Pickering

Malton

Filey

Withernsea

Drif�eld

Garstang

KirkhamWarton

Hunstanton

Skegness

Sleaford

HolbeachBourne

Brigg

Mablethorpe

Coningsby

Oakham

UppinghamOadby

Barton-upon-

Humber

Hessle

Horncastle

Ollerton

Alfreton

Stapleford

Holywell

Mold Buckley

Thirsk

Market Rasen

IngoldmellsWashingborough

Bakewell

Wirksworth

Ruthin

Denbigh

St Asaph

Llangollen

Ellesmere

Wem

Welshpool

Whitchurch

Ruabon

Middlewich

Winsford

Lymm

Leigh

HolmesChapel

WhaleyBridge

Market Drayton

Llanfyllin

Whitby

Scarborough

Northallerton

Ulverston

Morecambe

Clitheroe

Padiham

ColneNelson

Accrington

Skipton

Rawtenstall

Todmorden

Brighouse

Beverley

Ripon

Knaresborough

Bridlington

Chorley

Darwen

Lytham St Anne's

Formby Standish

Leyland

SkelmersdaleOrmskirk

King'sLynn

Stamford

Melton Mowbray

Boston

WisbechDownham

Market

SpaldingLoughborough

Wigston

Otley

Selby

Gainsborough

Thorne

Pontefract

Tadcaster

Kendal

Heysham

Fleetwood

Lancaster

Ilkley

Bingley

Garforth

Castleford

Glossop

Cheadle

Sutton in Ash�eld

Kirkby in Ash�eld

Worksop

Staveley

Hemsworth

Newark-on-Trent

GranthamLong Eaton

Beeston

Cleethorpes

Immingham

Northwich

Frodsham

LeekBiddulph

Congleton

Kidsgrove

Hucknall

ClayCross

EastwoodBelper

Ripley

Ilkeston

Matlock

Bebington

Flint

Kirkby

PrestatynRhyl

Colwyn Bay

Abergele

Oswestry

NantwichWrexham

Newport

BrownhillsAldridge

Lich�eld

Rugeley Ashby-de-la-Zouch

UttoxeterStone

Sandbach

Ashbourne

Maccles�eld

Buxton

Louth

Sale

Altrincham

WilmslowKnutsford

Coalville

Barrow-in-Furness

BurnleyBlackburn

Keighley

Halifax

Bury

Rochdale

Middleton

Oldham

Salford

Bolton

Preston

Blackpool

Southport

Crosby

Wigan

Peterborough

Harrogate

York

Chester�eld

Scunthorpe

Wake�eld

Barnsley

Rotherham

Doncaster

Stockport

Mans�eld

Lincoln

Grimsby

Bootle

Widnes

Runcorn

St HelensWallasey

Birkenhead

EllesmerePort

Warrington

Shrewsbury

Telford

Walsall SuttonCold�eld

Cannock

Newcastle-under-Lyme

Stafford

Crewe

Burton uponTrent

Chester

Tamworth

BRADFORD HULL

MANCHESTER

LEICESTER

LEEDS

SHEFFIELD

NOTTINGHAM

STOKE-ON-TRENT

WOLVERHAMPTON

DERBY

LIVERPOOL

Whitby

Scarborough

Northallerton

Ulverston

Morecambe

Clitheroe

Padiham

ColneNelson

Accrington

Skipton

Rawtenstall

Todmorden

Brighouse

Beverley

Ripon

Knaresborough

Bridlington

Chorley

Darwen

Lytham St Anne's

Formby Standish

Leyland

SkelmersdaleOrmskirk

King'sLynn

Stamford

Melton Mowbray

Boston

WisbechDownham

Market

SpaldingLoughborough

Wigston

Otley

Selby

Gainsborough

Thorne

Pontefract

Tadcaster

Kendal

Heysham

Fleetwood

Lancaster

Ilkley

Bingley

Garforth

Castleford

Glossop

Cheadle

Sutton in Ash�eld

Kirkby in Ash�eld

Worksop

Staveley

Hemsworth

Newark-on-Trent

GranthamLong Eaton

Beeston

Cleethorpes

Immingham

Northwich

Frodsham

LeekBiddulph

Congleton

Kidsgrove

Hucknall

ClayCross

EastwoodBelper

Ripley

Ilkeston

Matlock

Bebington

Flint

Kirkby

PrestatynRhyl

Colwyn Bay

Abergele

Oswestry

NantwichWrexham

Newport

BrownhillsAldridge

Lich�eld

Rugeley Ashby-de-la-Zouch

UttoxeterStone

Sandbach

Ashbourne

Maccles�eld

Buxton

Louth

Sale

Altrincham

WilmslowKnutsford

Coalville

Barrow-in-Furness

BurnleyBlackburn

Keighley

Halifax

Bury

Rochdale

Middleton

Oldham

Salford

Bolton

Preston

Blackpool

Southport

Crosby

Wigan

Peterborough

Harrogate

York

Chester�eld

Scunthorpe

Wake�eld

Barnsley

Rotherham

Doncaster

Stockport

Mans�eld

Lincoln

Grimsby

Bootle

Widnes

Runcorn

St HelensWallasey

Birkenhead

EllesmerePort

Warrington

Shrewsbury

Telford

Walsall SuttonCold�eld

Cannock

Newcastle-under-Lyme

Stafford

Crewe

Burton uponTrent

Chester

Tamworth

BRADFORD HULL

MANCHESTER

LEICESTER

LEEDS

SHEFFIELD

NOTTINGHAM

STOKE-ON-TRENT

WOLVERHAMPTON

DERBY

LIVERPOOL

M1

ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ


Aerial



Retailing



DRAFT

ACCOMMODATION

We understand that the property provides the following gross internal areas:

Unit Use Sq m Sq ft

1-4 Sainsbury’s GF 2,417.69 26,024

1F 402.36 4,331

TOTAL 2,820.05 30,355

5-6 Wilko GF 1,966.2 21,164

1F 695.94 7,491

TOTAL 2,662.14 28,655

7-8a Peacocks GF 496.22 5,341

1F 238.11 2,563

TOTAL 734.33 7,904

8b Mackays Stores GF 175.52 1,889

TOTAL 175.52 1,889

9 Mackays Stores GF 166.32 1,790

TOTAL 166.32 1,790

10a Mackays Stores GF 143.55 1,545

1F 63.0 678

TOTAL 206.55 2,223

10b Vacant GF 108.16 1,164

1F 41.93 451

TOTAL 150.09 1,615

TOTAL 6,915 74,431

There are 292 parking spaces in total which provides an excellent town centre parking ratio of 1:23 sq m (1:254 sq ft).

DESCRIPTION

The property comprises a prime town centre retail park developed by Henry Boot Developments in 1998 providing two large retail units, including a purpose built supermarket, and a terrace of five retail units arranged around a central car park.

The buildings are of steel portal frame construction with brick clad elevations which are surmounted by slate and steel sheet pitched roofs.

Externally the property has two car parks to the west and north east elevations with 292 car parking spaces (1:254 sq ft).

The site extends to approximately 2.66 ha (6.6 acres) providing coverage of circa 20%.


ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ


Aerial



Retailing



SCO

TTR

OAD

Hope Yd

Preston's

YardM

ILLGATEALMA TERRAC

CF

Ward Bdy

CR

Und

CCLW

Garage

CommunityCentre

Health Centre

Sunnyside

Bungalow

PCs

Pump

House

10

20

9

4345

4749

53a

55

3

4

23

21

2227

282930321 2

8

Ceara Terrace1

4 5.8m

El Sub Sta

Path

(um

)

(um)

Path (um)

Car Park

FB

Posts

Drain Selby Dam

MHW

Turner'sS

quare

STJA

MES

TER

RAC

E

Market Cross

JAM

ESST

REE

T ABBEY YARD

SCO

TTR

OAD

GOWTHORPE

AUD

US

STR

EET

MARKET LANE

THE CRESCENT

Abbey

Place

MARKET PLACE

EET

Robert Street

FINK

LEST

REET

MICKL

EGATE

Micklegate Walk

ABBEY WALK

SCO

TTR

OAD

War

dBd

y

CW

FW

UndCW

CR

UndCF

Milt

onPl

ace

Church

C Garage

Depot Works

Granville

Place

Bank

PH

PH

Bank

HotelBankBank

PH

PH

PH

30

4to

6

2

13to57111519

2

7

1

5

8

17

23

21

31

3943

4747a

49

51

63

6567

69to7173

100

96

92

84

80

2822

1

21

74

1

3

64

52

50

48

4240a 40 38b 38a 38

30 24 to 28 2216

102

1

1313

a15

21

144a4b

23

29

31 35

37

41

28

2018a

18

6

2to

4

3

1214

910131619

18

9

10to

1112

16

21

22 to 23

24

25

61

to39

9

El Sub Sta

Bank

Town Hall

6.1m

BM 6.62mTCB

6.4mEl

Car Park

ElSubSta

El Sub Sta

LB

5.8m

BM 6.52m

El Sub Sta

5.8m

6.4m 6.7m

LB

Car Park

BM7.

04m

6.4m

SubSta

CrossOld

Posts

Selby Dam

Pond

MILLGATE

THE

QU

MICKLE

GATE

WR

PH

Hall

Club

50

48

57

61to

65

671

3

12

4

73

7

ElSubSta

El Sub Sta

6.1m

ABBEY YARD

Abbey Place

MICKLE

GATE

Gov

tO

ffic e

sSu

r ger

y

Surgery

Bank

A

an

HallAbbeyVicarage

PO

PH

2

4

7

710

45

9

1

1521

44

BM 6.82m

SELBY

Church Avenue

TCBs

TCB

0m 50m 100m 150m

© Crown Copyright 2008. All rights reserved. Licence number 100020449. Plotted Scale - 1:2500

DRAFT

P

YORKSHIRE

TRADINGCO

MPANY

CARD

F AC TORY

CO-O

P

RUBY

SUPE R

DRU

G

VISION

VALUE

HERBERT

BROW

N

HALO

WHSM

ITH

S PE CSA VE R

S

THO

MAS

M&C

O

THAI SUNSHINE

YOR

KSHIR

E

KITTY ELISSE

NIC

O`S

HEAVEN&

HOME

CAF

ECH

IQU

E

CANCERRESEARCH

UK

BOO

TS

SUPERFRESH

O2

SKI PTON

BUILDIN

GSO

CIET Y

BONM

ARCHE

RIOCO

HALIFAX

QUICKSILVER

THENEW

INN

SCOPE

NEW

LOO

K

SHO

EZO

NE

THOMSON

BRITISHHEART

FOUNDATIO

N

NFU MUTUAL

REEDS RAINS

CASHCO

NVERTERS

ASHTONS

ELMHIRST PARKER

JIGSAW LETTINGS

BABYBOOM!

MOLLIE

SHARP`S CHEESE SHOP

CABLES

STA N

JAM

ES

ARTHRITISRESEARCH UK

PROSPECTTRAINING

LTD

COE

&C

OE

THE

CRI

CKET

ERS

ARM

S

FRESH 4 YOUSALAD BAR

LIONELA. W

INDER

RHU

BA RB

&LI M

E

THANKSA BUNCH

ROCK

ONE

THEG

IANTBELLFLO

WER

SANTANDER

LUCKYHO

RSEPIZZACALLO

CLARKS

A ME R

I CA N

NAI LS

GREENW

OO

DS

ABBEY

YMCA

TOTS `N`TEENS

STEPHENSONS

MOORE`SALLSORTS

SUBW

AY

TIMPSO

N

SWIN

T ON

MJB

KEIT

H`S

WE

BUYG

OLD

WILLIAM

HBRO

WN

SELBYBIKE

CENTRE

EUROPEAN

FOOD

&DRINK

MILLION

CJ`S

CLAI

RE`

SC

ARTR

IDG

EPO

INT

INDEPFINANCOPTIONS

CHEQUE

CENTRE

AGE UK

RO

COSMOS

TELECOM

DONNA

MCGUIRE

LORRETTA

GO

RDO

NS

BRO

KES

4 YOU

WILLIAM

HILL

WILCO

MO

TOSAVE

THE COTLER PRACTICE

ROWEN

FOTOS R US

BOUDOIR BOUTIQUE

PARK ROW

BARC

LAYS

CASTLE

ODIBI

MAR

KET

LAN

ET E

ARO

OM

S

COBB

LER

SLA

ST

ARCHWAYDINER

HSB

C

J T MELLANBYS

WALL-WORKS

AING

ER

HUNTERS

BOO

TS

THE SEWING

STUDIO

CLASSROOM

CLOTHING

NAILS 4 YOU

Y`S

BPSP

ORT

S

EXTREME

WILLIAMHILL

THE

BLAC

KAM

OOR

HEAD

THO

MAS

CO

OK

LLOYDS

MARTIN

HOUSE

CHILDREN`SHOSPICE

KEITHTAYLOR

ALEX

AND

ER

JUST

RIG

HT

&BA

RRET

TSELBY

COM

PUTER

ANDSC

WIN

TOWNEND

ABBEYF

HEA LT H&

BE AUTY

C AR DS

&G

I FTS

PAWN

BRO

SHOES

VACANT

COUNCIL OFFICES

VACAN

T

HAIRDRESSING

NEWSAG

ENT&

BOO

KS

OPT

BAKERVACANT

RESTAURANT

BUILDI N G

SOC

I ET Y

CLO

HAIRDRESSING

GIFTS

BAR

CHARITYSHO

P

OPTICIAN

GRO

CER

TEL EP HO

NE S

HOUSEHO

LDG

OO

DS

LADIESW

EAR

CAFE

BANKAMUSEM

ENTS

PUBL ICH

OU

SE

CHARITYSHO

P

LADIES

WEAR

TRAV

A G

TRAVELAGENT

CHARITYSHOP

INS OFF

ESTATE AGENT

FINANCIALSERVICES

ESTATE AGENT

ESTATE AGENT

ESTATE AGENT

NURSERY GOODS

DRY PROD

BUTC

HER

BETT

ING

OFF

ICE

CHAR SH

BUSINESSSERVICES

JE WELL ER PU

BLIC

HO

USE

TAKE AWAY

ELECTRICAL

CONTRACTOR

OP TIC

IA N

CLO

THIN

G

CAMPING

GO

ODS

CA FE

FLOR

BANK

TAKEAW

AY

VACREST

VACANT

TRAV AG

CHAR

ITY

SHO

P

C/WR

ESTATE

AGENT

CONF & BIS

SANDW

ICHBAR

PUBLICHO

USE

SHO

ER

EPAIRS

INS

OF F

HEA

LTH

CEN

HAIR

PAWNBRO

KERESTAG

CYCLES&

REPAIRS

CONV

STO

MENS

WEARBE AU

SA L

SHO

ESCHINESET/A

HAIR

DENTAL

SURGERY

VAC

BANK/FINFINANCIAL

SERVICES

CHARITY SHOP

TEL

HAIR

CLOTHING

VACANT

HAIR

STORE

CARSPARES

OPTICIAN

JEWELLER

PHOTO GOODS

CLOTHING

EST AG

OFFICE

BANK

TAKE AWAY

HEALTH

CAFE

SHO

ER

EP

CAFE

BAN

K

BAR

PHOT

HAI

R

MPU

TER

GAM

ES

BUS

EQUI

P

ESTATE AGENT

CHEM

IST

HABER

C/WR

BEAU SAL

ER

SPTS

GD

S

HAIRDRESSING

BETTING OFFICE

PUBL

ICHO

USE

TRAV

AG

BANK

CHARSH

ESTATEAGENT

CARD

S

BEDS

&BE

DDG

FIN ADV

BETTINGOFFICE

NG

OFF

ICE

JEW

ELLE

R

F

D

VACANT

COUNCIL OFFIC

FISH&CEST

AGFLO

ICE

WO

RKS

R

10

34

9

7

38

12

18

54

11 - 13

2224 - 28

14

30

3

20

38A

1

40

9

40A

3 - 5

1 - 4

12

44

13

36

42

4

36A

32

16

2

46

5 - 6

9

1

48

17

13A

11

19

15

8

7

15

14A10

717

5

50

14

18 - 19

6

39

21

47A

15

45

3537

23

3

4- 2

0

2

41 - 43

5- 7

332729

3 5

21A

52

49

47

17 - 19

3125

70

1

516462

27

66

24

23

60

31- 3

3

21

25

55

16

58

14

72

2- 4

10

13

18

9

12

56

23

10 - 11

2022

68

2 - 3

2

29

6- 8

21

57

9

61 59

63

FINK

LEST

REET

NEW

LANE

ABBEY WALK

ROBERT STREET

GOWTHORPE

MARKET PLAC

ABBEY WALK

MIL

TON

PLAC

E

AUDU

SST

REET

GOWTHORPEMARKET LANE

GRANVILLE

PLACE

SCOTT

ROAD

SERVICE AREA

LOADING AREA

YARD

YARD

LOADING AREA

(ACC

ESS

ONLY

)

MAR

KET

LANE

PRIV

ATE

GAR

DEN

(ACCESS

DWELLINGS

DWEL

LING

S

ENT

ENTRANCE

DWEL

LING

S

DWELLING

DWELLING

S

GARAGE

DWELLING

LIN

GS

GAR

AGE

1 - 4B

17- 2

3

1

2- 5

3- 5

1

LIONEL

A. WINDER

(275) (ACTUAL)

45 metres

SelbyJLL 19/1/2015


ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ


Aerial



Retailing



RETAILING – SELBY

Abbey Walk Retail Park is prominently located in Selby Town centre with direct access to the traditional prime pitch of Gowthorpe. Abbey Walk’s car park is heavily utilised by both retail park and town centre patrons resulting in the strongest retail footfall within the Town Centre.

In terms of competition Market Cross, anchored by Morrisons provides 23 smaller retail units with a lack of scope to develop further. Three Lakes Retail park on the outskirts of Selby provides non-food retail warehousing units with tenants including Argos, Brantano, Halfords, Pet’s at Home, Carpet Right, Homebase, DW Sports, McDonalds and Frankie & Benny’s. Rents range from £15.00 to £24.00 per sq ft.

The rental value tone in Abbey walk is underpinned by strong tenant demand with a number of unsatisfied 5-10,000 sq ft national multiple retailer requirements for the town and limited development opportunities.

We believe there is strong rental growth potential at Abbey Walk, as evidenced by the recent M&Co letting at £22 per sq ft, demonstrating Day 1 reversion throughout the scheme.

DRAFT

TENANCY SCHEDULE

Unit Tenant Area Sq Ft Start Date Review Date Expiry Date(Break)

UnexpiredTerm

Net Rent £ pa Net Rent £ psf ERV £ pa ERV £ psf

1-4 Sainsbury’s Supermarket Ltd

30,355 03/08/1998 03/08/2018 02/08/2023 8.5 years £495,000 £16.30 £530,000 £17.50

5-6 Wilko Retail Ltd

28,655 20/07/2013 20/07/2018 19/07/2023 8.5 years £232,500 £8.11 £272,222 £9.50

7-8 Peacocks Stores Ltd

7,904 14/09/2012 14/09/2017 13/09/2022(14/09/2017)

7.6 years £80,000 £10.12 £118,600 £15.00

8b, 9, 10a Mackays Stores Ltd *(t/a M&Co)

5,902 28/11/2014 27/11/2019 27/11/2029 14.95 years £130,000 £22.00 £130,000 £22.00

10b Vacant ** 1,615 – – – – £30,000 £18.54 £30,000 £18.54

Totals 74,431 £967,500 £13.00 £1,080,822 £14.50

* 8b, 9, 10a Mackays rent subject to fixed increases 27/11/2019 - £139,750 pa, 28/11/2024 - £150,231 pa. ** 10b – 2 year vendor rent, rates and service charge guarantee.

INCOME

The combined income is £967,500 per annum with 51% of the income from Sainsbury’s, 24% from Wilko, 14% from Mackays and 8% from Peacocks. The AWULT to breaks is 6.6 years and to expiry 8.2 years. Unit 10b has recently fallen vacant. A 2 year rent, rates and service charge guarantee is proposed.

We conservatively assess the ERV to be £1,080,822 per annum reflecting a modest £14.50 psf overall.

PLANNING

The property has planning permission for Open A1 (including food) use with the exception of Unit 10B which currently has consent for A1/A2. The property is situated within Selby Town Centre Conservation Area but is not listed.

ENVIRONMENTAL

A Phase 1 Environmental Audit prepared by Environ and dated March 2010 states the site represents a low risk based on the current use.

TENURE

Freehold.

51% OF INCOME 24% OF INCOME 8% OF INCOME14% OF INCOME


ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ


Aerial



Retailing



DRAFT

TENANTS COVENANTS

The scheme benefits from 97% being let to D&B 5 A1 rated covenants and we set out below the most recent company accounts for each tenant.

Units Tenant D&B Rating Year Ending Sales Turnover £(000’s)

Pre Tax Profit £(000’s)

Net Worth £(000’s)

1-4 Sainsbury’s Supermarket Ltd 5A1 15/03/2014 £23,919,000 £810,000 £4,706,000

5-6 Wilko Retail Ltd 5A1 01/02/2014 £1,462,843 £27,612 £248,295

7-8 Peacocks Stores Ltd 5A1 01/03/2014 £324,874 £58,471 £90,545

8b, 9, 10a Mackays Stores Ltd 5A1 21/02/2014 £158,289 £6,543 £29,482

Further information is available on request.

EPC’S

Available upon request.

VAT

The property has been elected for VAT which is therefore payable on the purchase price although we anticipate the transaction will be treated by way of a TOGC.

ASSET MANAGEMENT

There is potential to add value through pro-active asset management;

• Unit 10b which has recently become vacant provides scope to improve tenant profile and drive rental value growth.

• Low site coverage of 20% provides potential for further development on the site.

• Recent M&Co letting underpins reversionary potential.

• Low base rent at £13 psf overall provides an excellent opportunity to capitalise on rental value growth at the next review cycle.

• Explore potential to generate additional revenue stream from car park.

• Potential to re-gear leases with the key tenants who we understand are committed to and trade well from this location.

PROPOSAL

We are seeking offers of £14,630,000 reflecting an initial yield of 6.25%, a reversionary yield of 7% and an equivalent yield of 6.86% allowing for acquisition costs of 5.8%.

For further information or to arrange an inspection please contact:

David Holt Scott HelyerTel: +44 (0)20 7079 1818 Tel: +44 (0)20 7079 1820Mob: 07788 108284 Mob: 07808 [email protected] [email protected]

Whitmarsh Holt YoungCavendish House, 18 Cavendish Square, London, W1G 0PJwww.why50.com

Whitmarsh

Holt

Young

Whitmarsh Holt Young for themselves and for the vendors or lessor of this property for whom they act, give notice that: i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) Whitmarsh Holt Young cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; iii) rents quoted in these particulars may be subject to VAT in addition; iv) Whitmarsh Holt Young will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars; and v) the reference to any plant, machinery, equipment, services, fixtures or fittings at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function. Prospective purchasers/ tenants should satisfy themselves as to the fitness of such items for their requirements; vi) no employee of Whitmarsh Holt Young has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. February 2015

Designed and produced by Creativeworld Tel: 01282 858200


ABBEY WALK

RETAIL PARKSELBY

YO8 4DZ


Aerial



Retailing

Income & Tenure


DRAFT

abbey walk retail park | selby...market cross shopping centre abbey walk retail park selby yo8 4dz...

Documents