Location Estimated District Population: 816,000 Miles: 20 miles north of Chester 32 miles south-west of Manchester
Roads: A57, A59, A580, M58, M62
Position The property is located at the junction of London Road and Gildart Street, opposite a Lidl Supermarket and near T J Hughes. Liverpool John Moores University (26,000 students) and the University of Liverpool (21,000 students) are both close by.
Present Accommodation (approximate areas) Floor
Accommodation
Ground Basement
First
Second Third
Fourth
Sales Ancillary Storage Ancillary
637.29 sq m 72.46 sq m 472.86 sq m 17.65 sq m
Description LARGE SHOP arranged on the ground and basement floors with SELF-CONTAINED STUDENT ACCOMMODATION arranged on the first, second, third, fourth and mezzanine floors, comprising 112 letting rooms. The property also benefits from separate parking fronting Constance Street.
Tenure Long Leasehold for a term of 125 years from 13th January 1995 from Liverpool City Council at a peppercorn.
VAT is applicable to this lot – please see Special Conditions of Sale.
Net Internal Areas Tenant
(6,860 sq ft) (780 sq ft)
(5,090 sq ft) (190 sq ft)
B&M RETAIL LIMITED (1) Term
10 years from 9th February 2010 with a rent review in 2015
Mezzanine Kitchen/Lounge Area
Letting Rooms (25 Rooms) 731.58 sq m (7,875 sq ft) FULL VACANT POSSESSION – Letting Rooms (31 Rooms) 732.51 sq m (7,885 sq ft) FULL VACANT POSSESSION – Letting Rooms (30 Rooms) 732.51 sq m (7,885 sq ft) FULL VACANT POSSESSION – Letting Rooms (26 Rooms) 549.03 sq m (5,910 sq ft) FULL VACANT POSSESSION – (730 sq ft) FULL VACANT POSSESSION –
67.81 sq m Total Commercial Area 4,013.70 sq m (43,205 sq ft) Total Rent
Rent £ p.a. £70,000 (2)
LJMU PROPERTY
St Andrew’s Gardens – Mansion Students Apollo Court – Unite Windsor Court – CRM Great Newton Hall – Opal Opal Court – Opal
Liverpool School of Tropical Medicine Liverpool Community College
Liverpool Lime Street Station Liverpool Cathedral
Liverpool John Moores University
Gross Rent £70,000 pa PLUS VACANT UPPERS
– – – – –
£70,000
(1) Trading as B&M Bargains. B&M Retail Limited is one of the UK’s fastest growing discount retailers with over 230 stores throughout England, Scotland,Wales and Northern Ireland. For the year to 12/10, they reported a turnover of £538.3 million, pre-tax profits of £35.2 million and a net worth of £67.5 million. (Source: One Source One-Stop Report and Company website: www.bmstores.co.uk)
(2) Under the lease, there is provision for the tenant to pay half the rent for the first 4 years of the term until February 2014. The Vendor has agreed to ‘top-up’ the rent from completion of the sale to the end of the rental concession – please see Special Conditions of Sale.
NB1. While there are 112 rooms, there is potential to increase the number of rooms through internal re-configuration. NB2. The upper parts are currently vacant due to a lease to the Local Authority expiring earlier this year.
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Quinn Barrow Solicitors. t: 0151 231 6620. e: pbarrow@quinn-barrow.co.uk Ref: P Barrow Esq. Joint Auctioneers CBRE (Manchester office). t: 0161 233 5638. e: nick.mullins@cbre.com Ref: N Mullins Esq.
85
Substantial Retail and Student Accommodation Opportunity
• Shop let to B&M Bargains Limited until 2020
• 112 student bedrooms on four floors and a mezzanine above