INVESTMENT CONSIDERATIONS Prominent and imposing retail parade providing a total area 2,493 sq m (26,800 sq ft) 100% prime pitch pedestrianised location with return frontage on Baxtergate Located opposite the dominant Frenchgate Centre Former BHS now let to Flip Out as a 30,000 sq ft trampoline park and 160 seat café Historic market town with a catchment population of 427,000 people The majority let to the national covenants of Carphone Warehouse, Leeds Building Society, Toni and Guy and Poundland Total current rent 284,300 per annum Freehold PROPOSAL We are instructed to seek offers in excess of 2,670,000 (Two Million, Six Hundred and Seventy Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 10% after allowing for purchaser s costs.
Keighley Leeds/ Bradford CKBURN M65 Burnley Halifax BRADFORD M606 LEEDS M621 M1 A1(M) HULL Bolton M66 Rochdale Oldham M60 MANCHESTER M62 HUDDERSFIELD M1 M62 Pontefract M18 Barnsley A1(M) DONCASTER M180 SCUNTHORPE M181 Humberside Airport M62 M60 M67 Glossop Rotherham M18 A1(M) on M58 Stockport Manchester International Airport Peak District National Park SHEFFIELD Gainsborough M1 Worksop M6 Buxton Chesterfield LINCOLN LOCATION The historical market town of Doncaster is located in the county of Yorkshire and has a population of 300,000. Doncaster is the commercial centre of South Yorkshire and is located approximately 273 km (170 miles) north of London, 56 km (35 miles) south east of Leeds and 35 km (22 miles) north east of Sheffield. The town benefits from excellent road and rail communications with A1(M) and M18 located 5 km (3.1 miles) to the south of the town centre and the M1 located 24 km (21 miles) south west of the town and is accessible via the M18. Communications are further enhanced by public transport with Doncaster railway station being served by the east coast mainline with a fastest journey time to London Kings Cross of 1 hour 49 minutes. Regular services also provide access to Leeds and Sheffield. Additionally, the town is served by Doncaster Robin Hood airport 5.6 km (3.5 miles) south east of the town centre and provides flights to many UK and European destinations.
SITUATION The property is located on the corner of Frenchgate and Baxtergate, a prominent position on the prime pitch in Doncaster town centre. The property benefits from its proximity to Frenchgate Shopping Centre and a number of other large retailers such as House of Fraser, Marks and Spencer and Argos. There are a number of large car parks within the immediate area serving the predominantly pedestrianised area. In addition to excellent retailing facilities, the property benefits from its close proximity to the train station which is located 0.3 miles to the southeast. DESCRIPTION The property is arranged on basement, ground and two upper floors to provide seven ground floor retail units together with ancillary accommodation above. TENURE Freehold.
Doncaster FRENCHGATE & BAXTERGATE, DONCASTER, DN1 1QQ RETAILING IN DONCASTER Doncaster is a popular retailing location with a catchment population of 427,000 and Frenchgate is the principal retailing pitch in the area. There are a large number of national retailers located in the street which include Marks & Spencer, Boots, Specsavers, Costa Coffee, The Body Shop and Café Nero. The town boasts an excellent mix of national and local occupiers which serve the local community and catchment area. The Frenchgate Shopping Centre is a popular attraction with a number of large fashion retailers and a large offering of cafes and restaurants. Three days a week, the town enjoys an outdoor market, taking place on Frenchgate and Baxtergate, amongst other streets. Town centre retail floorspace in Doncaster is estimated at 1.63 million sq ft which is above average for towns with similar demographics and total in store comparison retail expenditure (2017) for the area is above the national average for comparable centres at 145 million. UNDER REFURBISHMENT LET TO FLIP OUT Crown Copyright, ES 100004106. For identification purposes only.
SCHEDULE OF ACCOMMODATION & TENANCIES Unit Tenant Name Accommodation Area sq ft Area sq m Annual Rent Zone A Rent Lease Start Date Lease Expiry Date Next Break Option Next Review Date Comments 12 Frenchgate Toni and Guy North Limited 10 Frenchgate Poundland Limited 8 Frenchgate Leeds Building Society 1 Baxtergate GFJ Designs Limited 2 Baxtergate Vapour Hub Limited 3/4 Baxtergate 6/6A Baxtergate K A K Associate Limited The Carphone Warehouse Limited Ground 867 80.5 ITZA 590 54.8 First 667 62.0 Second 489 45.4 Total 2,023 187.9 Ground 3609 335.3 ITZA 1,257 116.8 First 2,362 219.4 Second 1,391 129.2 Basement 2,917 271.0 Total 10,279 955.0 Ground 773 71.8 ITZA 495 46.0 First 626 58.2 Second 366 34.0 Basement 1,926 178.9 Total 3691 342.9 Ground 362 33.6 ITZA 362 33.6 First 337 31.3 Second 277 25.7 Third 162 15.1 Basement 318 29.5 Total 1,456 135.3 Ground 274 25.5 ITZA 272 25.3 First 575 53.4 Second 108.50 10.1 Total 958 89.0 Ground 935 86.9 ITZA 724 67.3 First 185 17.2 Second 579 53.8 Basement 585 54.3 Total 2,284 212.2 Ground 724 67.3 ITZA 577 55.1 First 712 66.1 Second 663 61.6 Total 2,099 195.0 Totals 26,840 2493.5 284,300 *Area provided by vendor. 40,000 62.00 15/06/13 14/06/23 14/06/18 15/06/18 36,000 19.00 07/06/17 06/06/18 31,300 55.00 16/12/17 15/12/27 16/12/22 16/12/22 Tenant not in occupation and break option activated Lease renewal agreed on the same terms as existing lease for 12 months 38,000 100.00 31/10/08 30/10/18 Tenant not in occupation 15,000 46.00 29/07/16 28/07/21 28/07/19 43,000 58.00 07/07/17 06/07/27 06/07/22 07/07/22 81,000 133.00 06/09/07 05/09/22 06/09/17
COVENANT INFORMATION Poundland Limited (Company Number: 02495645) D&B Rating: O2 Year Ending 30/03/14 29/03/15 27/03/16 Turnover 997,803,000 1,111,526,000 1,214,818,000 Pre-Tax Profit 41,017,000 45,922,000 34,653,000 Total Net Worth 96,235,000 93,866,000 20,520,000 Leeds Building Society Year Ending 31/12/15 31/12/16 31/12/17 Turnover 128,000,000 253,500,000 196,200,000 Pre-Tax Profit 85,500,000 116,100,000 133,000,000 Total Net Worth 790,300,000 871,400,000 959,000,000 The Carphone Warehouse Limited (Company Number: 02142673) D&B Rating: 5A1 Year Ending 02/05/15 30/04/16 29/04/17 Turnover 2,056,123,000 2,104,671,000 2,125,700,000 Pre-Tax Profit 77,146,000 86,056,000 48,400,000 Total Net Worth 1,007,570,000 1,029,021,000 1,046,000,000
EPC Available upon request. VAT The property is elected for VAT and it is anticipated the transaction will be treated as a transfer of a going concern (TOGC). DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/doncaster PROPOSAL We are instructed to seek offers in excess of 2,670,000 (Two Million, Six Hundred and Seventy Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 10% after allowing for purchaser s costs. For further information or to make arrangements for viewing please contact: Jeremy Hodgson 020 7543 6709 jeremy.hodgson@allsop.co.uk Mark Dansky 020 7543 6813 mark.dansky@allsop.co.uk Jonathan Butcher 020 7543 6755 jonathan.butcher@allsop.co.uk www.allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandhq.co.uk 05.18