burgess square brackley - mango design · burgess square brackley nn13 7ab. location brackley...

PRIME FREEHOLD RETAIL INVESTMENT OPPORTUNITY

BURGESS SQUARE BRACKLEY NN13 7AB

INVESTMENTCONSIDERATIONS

Brackley enjoys an elevated position on the edge of the

Cotswolds and is a prosperous and expanding market town,

now heavily linked to Formula One Racing.

Opportunity to purchase a quality modern commercial freehold

investment, as well as the ground rents from the 51 unit residential

development.

The subject property occupies a 100% prime retail location in

the heart of Brackley town centre.

Freehold.

58% of the income is secured to the K&S Stores (t/a Budgens)

with a rental guarantee from the parent company Musgraves

(D&B 5A1). This new 15 year lease benefits from RPI based

annual uplifts collared and capped at 1% and 3% respectively

compounded at review.

The current rent is £101,216 per annum exclusive, subject to

five yearly upward only reviews and represents rebased rents

for the town.

Offers are sought in excess of £1,300,000 (One Million Three

Hundred Thousand Pounds), subject to contract and exclusive

of VAT, for our client’s freehold interest in this property. An

acquisition at this level would reflect an attractive net initial

yield of 7.36%, with a minimum reversion to 7.56% at first review

and a likely reversion to 8.00% after allowing for purchaser’s

costs of 5.80%.



LOCATIONBrackley enjoys an elevated position on the edge

of the Cotswolds and is a prosperous market town.

Historically industry was built on the wool and lace

trade, although the town is now heavily linked to

Formula One Racing. Built on the intersecting trade

routes from London to Birmingham and Cambridge

to Oxford, this attractive, rapidly expanding market

town provides a quality retailing environment as

befits the nucleus of the surrounding rural area.

Located approximately 122km (76 miles) north-

west of London, 80 km (50 miles) south-east of

Birmingham,18 km (11 miles) east of Banbury and

24 km (15 miles) north of Bicester.

The town benefits from excellent road

communications, positioned just off the A43 which

links it to the national motorway network, via the

M1 (Junction 15A) to the north and M40 (Junction

10) to the south. The A422 links the town to

Banbury via the M40 (Junction 11).

Brackley has become synonymous with Formula

One Racing. Located 12 km (7.5 miles) south-west

of Silverstone, it is home to the successful Mercedes

GP Petronas team as well as Force India’s wind

tunnel test site.

SOCIO-ECONOMIC PROFILEBrackley is a growing retail centre for the

surrounding area, it has a resident population of

approximately 14,500 (source Town Council) and

a population of 178,290 within a 10 mile radius

(source Estates Gazette).

The town’s excellent location on the transport

network ensures that the town’s industrial parks

are home to a number of significant businesses

including Bronnley, De Boer Structures, Direct Legal

Collections, Faccenda, KTM and Mercedes GP

Petronas.

The quality of the catchment is underlined by

the excellent provision of both state and private

sector schools. Winchester House is located off the

High Street and is regarded as one of the country’s

top private preparatory schools. In addition to

this, Magdalen College School acts as the town’s

secondary school and accommodates 1,500

students. There are also three primary schools and

the Brackley Church of England Junior School.


M11

A1(M)

M1

M25

M40

M4

M5

M6 A1(M)

16

15

14

9

10

11

15AA1

BRACKLEY

A5 CAMBRIDGE

BEDFORD

NORTHAMPTON

MILTONKEYNES

BANBURY

OXFORD

COVENTRY

REDDITCH

CHELTENHAM

BIRMINGHAM

LUTON

READING

LEICESTER

BIRMINGHAM

A421

A41

A43

A34

LONDONLONDON


RETAILING IN BRACKLEYPrime retailing is growing within Brackley and is becoming focused on Market Place,

which provides an attractive and historic retailing environment. The spacious market

place with its tree-lined High Street is the ideal setting for a mixture of national

and local operators to thrive. Waitrose anchors the town centre with other national

multiples including Boots, Lloyds, Barclays, Ladbrokes, Budgens, Costa Coffee and

Subway. In addition to this there are a number of specialist local operators including

a greengrocer, butcher, bookshop, picture framer, florist, art gallery, the antiques centre

and a number of pubs, cafes and restaurants adding to the provision.

In addition to the permanent retail, Brackley holds a market every Friday and the local

Farmers market every 3rd Saturday of the month in Market Place. Italian and French

markets also visit the town during the course of the year.

SITUATIONThe property occupies an excellent retailing position on Market Place, forming the

ground floor of a 51 unit housing development. Burgess Square has created a new

modern communal square and retail environment within the heart of Brackley town

centre. Costa Coffee fronts Market Place with Budgens and Subway set back from the

high street behind the redesigned communal square.

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CINCINNATI JOES

AMERICAN RESTAURANT

DEFE

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MACINTYERS

BRACKLEY

MUNSON

BARNES CAMPLING GILROY

MCCOLL`S

THE COURTYARDCOFFEE HOUSE

COURTYARD

MEWS BRACKLEY

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INDIAN REST

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HAIRDRESSING

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HAIR

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ART

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(RET

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BETTING OFFICE

HAIRDRESSING

INSURANCE OFFICE

FISH & CHIPS

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DRAYMANS WALK

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MARKET HOUSE COURTYARD

MARKE

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BURGESS SQUARE

ENT

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DWG

1

(250) (ESTIMATED)

(90) (ESTIMATED)

(30) (ESTIMATED)

Strutt and Parker8/2/2012

SUBWAY

COSTA COFFEE

ENTRANCE



©Crown Copyright. Licence No. PU 100017316.

CR

123.2m

TCBs

War

Memorial

LB

Burgess Square

MAR

KET P

LAC

E

Market House

PH13

43

36

39

Brackley Lodge

19

1

23

40

15

23

17

TheLodge

29

42

37

19a

25

Bank

35

Shelter

House

Hartley

Courtyard

OLD BREWERY WALK

Tennis

Courts

2

55

1

63

17

ESS

54

47 to

67 to 8

9

1 to 22

23 to

43

42

44

5

57

11

59

2115

45

3

65

35

PCs

5

3

0m 10m 20m 30m

This plan is for identification purposes only. Its accuracy can in no way be guaranteed. Reproduced from the Ordnance

Survey Map with permission of the ControllerH.M.S.O Crown copyright reserved.

Licence No. ES100018525

Ordnance Survey © Crown Copyright 2012. All rights reserved.

Licence number 100020449. Plotted Scale - 1:1094



DESCRIPTIONThe property comprises three attractive, well configured,

modern retail units, below a high quality residential

development. The units provide sales areas and back-up

on ground floor and are fitted out in the tenants’ current

corporate styles. The Costa Coffee also benefits from a first

floor area providing café style seating.

Externally The Costa unit fronting the high street is a three

storey stone clad building, under a pitched slate tiled roof.

The Subway and Budgens units form the ground floor of

a three storey brick and render building under a pitched,

slate tiled roof.

TENURE Freehold.

Ordnance Survey Licence No. ES100018525 For indicative purposes only.

TENANCIESAddress Tenant Floor Area Area Lease Lease Next Passing Comments (sq ft) (sq m) Start End Review Rent

Unit 1, Gerry’s Offshore Ground Floor 1,763 108 19/02/2010 19/02/2025 19/02/2015 £17,500 Tenant has the option to break the lease on 6 months

31 Market Street Incorporation LTD First Floor 480 44.6 notice on 19/02/2015 & 19/02/2020.

t/a Costa Total 1,643 152.6

2A Burgess Square Subway Realty Ltd Ground Floor 1,077 100 02/06/2010 02/06/2025 02/06/2015 £17,000 Tenant has the option to break the lease on 6 months

t/a Subway Total 1,077 100 notice on 02/06/2015 & 02/06/2020.

2B/C Burgess Square K&S Stores Ground Floor 4,532 421 25/11/2011 25/11/2026 25/11/2016 £58,916 The rent in the first 5 years is guaranteed by Musgrave

t/a Budgens Total 4,532 421 Retail Partners GB Limited. The rent is subject to annual

RPI uplifts compounded at year 5 collared and capped

at 1% & 3%. The minimum rent at first review is £61,921

with a maximum of £68,308. There is a tenant option to

break on 12 months notice on 25/11/2022.

College Place Ground Rents - - 13/05/2009 12/05/2134 13/05/2034 £7,800 Ground rents from 48 residential flats and 3 town houses.

The rent doubles every 25 years as follows: £15,600,

£31,200, £62,400 and £124,800.

Totals 7,252 673.6 £101,216



VATThe property is elected for the purposes of VAT.

PROPOSAL We are instructed to seek offers in excess of £1,300,000

(One Million Three Hundred Thousand Pounds), subject

to contract and exclusive of VAT, for our client’s freehold

interest in this property.

An acquisition at this level would reflect an attractive net

initial yield of 7.36%, with a minimum reversion to 7.56% at

first review and a likely reversion to 8.00% after allowing

for purchaser’s costs of 5.80%.

COVENANT STATUSUnit No. Tenant Latest Tangible D&B Accounts Net worth Rating

Unit 1 Gerry’s Offshore Incorporations Limited 30/06/10 £419,798 A3

Unit 2 Subway Realty Limited 31/12/10 £2,885,076 2A2

Units 2B & 2C Musgrave Retail Partners GB LTD 31/12/10 £153,297,000 5A1

K&S Stores 31/05/10 £383,467 A3



For further information or to arrange an inspection please contact:

HARRY WILLS JOHN LIGGINS

0207 318 4633 01869 337999

[email protected] [email protected]

020 7

060 4

14

2

FURTHER INFORMATION

IMPORTANT NOTICE

Strutt & Parker LLP & Liggins Thomas Ltd for themselves and for the Vendors or Lessors of this property whose agents they are, give notice that: (1) The particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contract. (2) All descriptions, dimensions, references to condition and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each item. (3) No person in the employment of Strutt & Parker LLP or Liggins Thomas Ltd has any authority to make or give any representation or warranty whatever in relation to this property or these particulars, nor enter into any contract relating to the property on behalf of Strutt & Parker LLP or Liggins Thomas Ltd nor any contract on behalf of the vendor. (4) No responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have been sold, let or withdrawn. Particulars prepared February 2012

burgess square brackley - mango design · burgess square brackley nn13 7ab. location brackley...

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