2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
A PREDOMINANTLY RESIDENTIAL MIXED USE INVESTMENT
IN THE CENTRE OF NEWCASTLE-UNDER-LYME
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
INVESTMENT CONSIDERATIONS
STUDENT
n COMPRISING 30 SELF-CONTAINED STUDIOS
FULLY LET TO STUDENTS
n RESIDENTIAL RENT RESERVED: £201,835
(ACADEMIC YEAR 2016/17)
n KEELE UNIVERSITY IS WITHIN APPROXIMATELY
3.8 KM (2.4 MILES) OF THE PROPERTY
COMMERCIAL
n FOUR FULLY LET GROUND FLOOR RETAIL UNITS
n 57% OF THE INCOME IS SECURED TO THE STRONG
COVENANTS OF WILLIAM HILL ORGANISATION
LIMITED AND TIMPSON LTD
n AWULT OF 4.6 YEARS TO BREAK AND 5.4 YEARS
TO EXPIRY ON THE RETAIL UNITS
n COMMERCIAL RENT RESERVED: £67,120 P.A.
OVERALL
nFREEHOLD
n CENTRALLY LOCATED IN NEWCASTLE-UNDER-LYME
n TOTAL CURRENT RENT RESERVED: £268,955 P.A.
n OFFERS ARE INVITED IN EXCESS OF £3,000,000
(THREE MILLION POUNDS) SUBJECT TO ALL
EXISTING TENANCIES, CONTRACT AND
EXCLUSIVE OF VAT.
A1(M)
MIDDLESBROUGH
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
YORK
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M62
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HALIFAX
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BARNSLEY
DONCASTER
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BOLTON
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MANCHESTER
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LIVERPOOL
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CHESTERFIELD
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BUXTON
M6
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NEWARK-ON-T
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NEWCASTLE-UNDER-LYME
STOKE-ON-TRENT
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A38
NOTTINGHAM
DERBY
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STAFFORD
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SOUTHAMPTON
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The main bus station in Newcastle is situated to the rear
of the property, and provides regular bus services to the
surrounding areas.
E
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Stoke-on-Trent neighbours Newcastle-under-Lyme and is within 4 km (2.5 miles)
and provides the nearest train station. Regular direct train services are available
to Manchester, Birmingham and London Euston with fastest journey times of
33 minutes, 46 minutes, and 84 minutes respectively.
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The area is well served by a network of A-roads, but also the M6 Motorway,
which is accessible via Junction 15, approximately 4.8 km (3 miles) to the
south of Newcastle.
The total population within the Newcastle Under Lyme primary
catchment area is 140,000, with an estimated shopping population
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of 53,000. The age profile of the primary
catchment population
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includes
a particularly high proportion
of
young
adults aged 15-24.
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PLYMOUTH
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The level of car ownership in Newcastle-under-Lyme is above average
overall, with a broadly average proportion of multiple car owning
households. In December 2016 the local claimant count was 0.7%
of the population aged 16-64, compared to the national claimant
count in December 2016 of 1.2%.
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The property occupies a prominent corner plot at the
E LA
NE
junction of Hassell Street and Stubbs Street, in The Town
Centre. The property is situated less than 100 metres from
the pedestrianised high street and is adjacent to the recently
developed ‘Castle Walk’, a popular cobbled street of shops,
cafes and restaurants.
M40
A3
The market town of Newcastle-under-Lyme is located in Staffordshire, West Midlands.
It is positioned approximately 64 km (40 miles) to the south of Manchester and 70
km (44 miles) to the north of Birmingham. Derby and Nottingham are to the east,
within approximately 64 km (40 miles) and 88 km (55 miles) respectively.
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DEMOGRAPHICS
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LOCATION
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SWINDON
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A525
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TOWN
CENTRE
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A5 3
A527 B
ARRACKS RD
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A43
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M40
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BRISTOL
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COVENTRY
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CARDIFF
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M42
HIGH ST
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SWANSEA
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A34
B5
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LOWER S
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WOLVERHAMPTON
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BIRMINGHAM
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B5367 KNUTT
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PORTSMOUTH
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
TENURE
The property is held Freehold.
DESCRIPTION
This mixed use investment is arranged over lower
ground, ground and two upper floors.
There are six gated parking spaces available to
the rear of the building.
STUDENT
The residential ‘uppers’, which have front and rear
access at ground floor level, were extensively
re-developed in 2015 when the former office
accommodation was converted to residential.
The first and second floors now comprise 30
self-contained studios.
There is also lower ground floor communal space
included within the residential demise which
comprises the plant rooms, two common rooms
and a WC.
ENERGY PERFORMANCE CERTIFICATES
EPC’s are available to view and download from
the data room.
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
TENANCIES – STUDENT
The studios are fully let to students for the current Academic Year
(2016/17). The majority of tenancies are let for £137.50 per person per
week (pppw) for 48 week terms. Slight premiums have been applied
for some bigger rooms, plus those that include a parking space.
A full breakdown of tenancies is available within the dataroom.
UNIVERSITIES
Keele University has the largest campus in the country, some 600
acres of parkland. Newcastle-under-Lyme, being approximately
3.8 km (2.4 miles) to the east of this campus, is the closest main
centre. Whilst Keele is able to house the majority, if not all, first year
students on campus, there remains a good demand for student
accommodation in The Town. The property’s proximity to the bus
station in Newcastle-under-Lyme is favourable for students studying
at Keele. There are regular buses to the campus with journey
times of approximately 18 minutes, with quicker 13 minute
services every half hour.
Keele University placed 42nd overall in The Times and Sunday
Times Good University guide 2018, but placed in the top 5 for
teaching quality and student experience. The University plans
to grow by a third over 5 years and has spent £115m since the
turn of the century.
The Royal Stoke University Hospital is located approximately
1.6 km (1 mile) to the south east of Newcastle and the property.
This is a teaching and research hospital, but also one of the
largest hospitals in the country, with over 6,000 staff.
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
Newcastle-under-Lyme
TENANCY SCHEDULE
Unit
Tenant
Lease
Start
Lease
Expiry
Break
Option
Rent
Review
Area
(VOA)
sq ft
Rent
£ pa
Rent
psf
4
Timpson Ltd
25-Jun-15
24-Jun-25
25-Jun-20
25-Jun-20
455*
£10,500
£23.07
6
8
Wayne Walker Quality Meats Limited
10-Apr-15
31-Mar-20
01-Apr-18
516
£14,000
£27.13
Individual
29-Sep-15
28-Sep-25
29-Sep-20
534
£15,000
£28.09
10
William Hill Organization Limited
22-Mar-11
21-Mar-21
1,249
£27,620
£22.11
2,754
£67,120
Total
*Area provided by vendor.
BUS
STATION
© Crown Copyright, ES 100004106. For identification purposes only.
50 metres
Experian Goad Plan Created: 05/04/2017
Created By: Allsop
NB: All commercial tenants occupy ground floor space only.
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
RETAILING IN
NEWCASTLE-UNDER-LYME
Retail floorspace in Newcastle under
Lyme is estimated at 68,000 sq ft, above
the Small Town average. The majority
of retailing is within the Roebuck Centre
which comprises 52,000 sq ft of retail
accommodation.
Retailing in Newcastle-under-Lyme is
focused on the pedestrianised sections
of the High Street, Ironmarket and Castle
Walk, as well as The Roebuck Shopping
Centre. The town benefits from both
national and local retailer representation,
with occupiers including Laura Ashley,
Boots the Chemist, WH Smith, New Look
and Dorothy Perkins.
The market town hosts a variety of markets
six days a week with a farmers market
once a month.
COVENANT INFORMATION
William Hill Organization Limited
Timpson Ltd
Wayne Walker Quality Meats Limited
William Hill was founded in 1934 and operates from over 2,375 stores,
employing more than 16,000 people in 9 countries.
Timpson was established in 1865 and operates from 1,325 owned stores
and 110 franchises.
In the year ended 31 Dec 2015 Wayne Walker Quality Meats Limited
reported a Total Net Worth of £304,285.
Turnover
Pre-Tax Profit
Total Net Worth
29 Dec 2015
30 Dec 2014
31 Dec 2013
£873,900,000
£895,275,000
£15,339,482,000
£246,400,000
£284,209,000
£212,269,000
£-625,000,000
£-685,427,000
£-731,094,000
01 Oct 2016
26 Sept 2015
27 Sept 2014
£142,576,000
£130,773,000
£120,863,000
Pre-Tax Profit
£10,079,000
£10,259,000
£6,237,000
Total Net Worth
£50,095,000
£52,102,000
£50,654,000
Turnover
2-10
Hassell Street
Newcastle-under-Lyme ST5 1AG
MIXED USE INVESTMENT OPPORTUNITY
ADDITIONAL INFORMATION
An extensive information pack is available
to view and download online at
https://datarooms.allsop.co.uk/register/HassellStreet
VIEWING INFORMATION
The property will be subject to block viewing arrangements and
will not be available for viewing internally outside these times.
Please contact the office to register your interest.
ASKING PRICE
Offers are invited in excess of £3,000,000
(Three Million Pounds) subject to all
existing tenancies, contract and
exclusive of VAT.
RESIDENTIAL INVESTMENTS
Jack Robson
0113 243 7952
[email protected]
James Wilson
0113 236 6679
[email protected]
NATIONAL INVESTMENTS
Andy Pointon
020 7543 6720
[email protected]
Lottie Hayward
020 7543 6750
[email protected]
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 04.17