NEW BUILDINVESTMENTFOR SALE

NEW CONVENIENCE STORE LET TO HERON FOODS

11 REDHILL ROAD, ROSEWORTH, STOCKTON ON TEES TS19 9BX

GENERALThis is a new development which has been undertaken byCommercial Development Projects Limited. It was constructed onthe site of the former Roseworth Library and now forms the anchorstore of the Local Roseworth Shopping Centre. It is located at thejunction of Redhill Road and Rosslare Road approximately twomiles from Stockton Town Centre and half a mile from North TeesHospital. It lies on a number of bus routes and is located in apopular residential area.

A66

A66

A167

A19

A689

A689

A1(M) Heron Foods

DARLINGTON

A102

7

Junction Rd

A117

A117

A135

A67

J59

J60

STOCKTONON-TEES

Whitton

BishoptonRedmarshall

Long Newton

Brampton

Preston-leSherne

Mordon

ButterwickEmbleton

Thorpe Larches

INVESTMENT CONSIDERATIONS

Well located retail store

Let for 10 years to the excellent covenant Heron Foods Limited

Total Income £55,000 per annum (Ex VAT )

Price of £740,000

Net initial yield of 7.0%

A130

5

A1046

A102

7

A177

Durham Rd

A19

A66

Heron Foods

11 REDHILL ROAD, ROSEWORTHSTOCKTON ON TEES TS19 9BXFOR SALE

4345

47

51 49

5355

5957

61

6769

7173

SSÊPeterÊandÊPaul's

R ÊÊ

3

9

2

1

14 7

21

5

25

20

16

PO

22

14

Redhill Road

Rosslare Road

N

19Thirteen Housing Group

21China City Takeaway

23 25Papa Joe’s Pizza

27Carols Unisex Hair Salon

29Coral Bookmaker

POMcColl’s News

39/41Connies Home Bakery

43/45Pharmacy World

47/49/51Choices Bakery & Deli

53 55LLoyds Barber Shop

57 59 61Roseworth DIY

65 67 69The Co-op

71 73The Cod Father Fish & Chips

HERON FOODS FINANCIAL INFORMATION

YE 2014 YE 2013 YE 2012

TURNOVER £255,138,454 £249,688,954 £194,703,789

PROFIT £1,908,478 £2,301,042 £4,816,227

TANGIBLE NET WORTH £28,145,411 £26,419,497 £21,324,565

ACCOMMODATIONThe Premises provide a purpose builtconvenience store extending to a GIA of5,000 sq ft (465 sq mtrs) situated on asite of 0.40 acres (1618 sq mtrs) andproviding 14 car parking spaces.

LEASE DETAILThe premises are held by Heron Foodsfor a period of Ten years (without break)from 30th October 2015 on FRI Termssubject to a single rent review (upwardsonly) at the fifth anniversary of Term.

RENTAL£55,000 pa (Fifty Five Thousand Pounds perannum) Ex VAT. Equating to £11 psf GIA.

RATEABLE VALUETo be assessed.

PRICEWe are instructed to seek a price of£740,000 (Seven Hundred and FortyThousand Pounds) ex VAT which wouldshow a prospective purchaser an initialyield of 7% allowing for costs of purchaseat 5.8%.

COSTS & VATEach side to be responsible for their owncosts. The rents are subject to VAT. It is anticipated the sale will proceed byway of TOGC.

COVENANTHeron Foods opened their first store in1979 and now trade from over 240 storespredominantly in the North East,Yorkshire and the Midlands.

They were ranked 12th by turnover in TheGrocer magazine’s survey of the top fiftyindependent grocery retailers (TheGrocer magazine 13th March 2014),based on turnover in the year to 31stMarch 2014. In 2012 they purchased 53‘Cool Trader’ stores from Iceland.

More info from www.heronfoods.com

EPCThe Building is rated Band A providingsuperb efficiency.

18

FURTHER INFORMATIONPlans; specifications; arrangements to viewetc available from Sole Agents:

Catterall & CoT: 01325 722 109W: www.cattco.eu

Robin CatterallM: 07740 876 760E: robin@cattco.eu

Tim Catterall FRICS ACIArbM: 07702 287 097E: tim@cattco.eu

BOWMANS Design & Print www.bowmans77.co.uk

www.cattco.eu

A development by: