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sw.co.uk148 TONG STREET (A650), BRADFORD, BD4 9PP
FOR SALE
TRADE COUNTER UNITS WITH 14 YEAR PLC GUARANTEE
PRIME INVESTMENT OPPORTUNITY
148 TONG STREET (A650), BRADFORD, BD4 9PP
Investment Summary
• Prime high specification trade counter investment.
• Highly prominent frontage and direct access onto the A650 Tong Street a majorLeeds/Wakefield/Bradford link road linking to Junction 27 of the M62.
• Two modern trade counter units measuring a total of 4,498.66 sq m (48,424 sq ft) GIA including238.41 sq m (2,566 sq ft) mezzanine.
• Site area of approximately 1,223 hectares (3.023 acres) providing a low site coverage ofapproximately 35%.
• Securely let to Selco Trade Centres Ltd with parent guarantee from Grafton Group (UK) Plc.
• Let on a 25 year lease with upward only open market reviews from 10th September 2008 (over 14year term certain).
• Passing rent of £320,756 per annum.
• Freehold.
• We are seeking offers over £5,500,000 for our client’s interest subject to contract and exclusiveof VAT. A purchase at this level would reflect an attractive 5.47% NIY assuming purchaser’scosts at 6.61%.
148 TONG STREET (A650), BRADFORD, BD4 9PP
Location
Bradford is well situated within the central core of the West Yorkshire conurbation being approximately 9 mileswest of Leeds and 11 miles north east of Huddersfield. The city has good road communications with a numberof major roads connecting it to the surrounding towns, including Shipley, Bingley and Brighouse. The city alsohas its own motorway spur (M606) which connects with the M62 motorway, approximately 4 miles south of thecity centre, thus providing convenient access to other parts of the region.
The city also enjoys a direct high speed rail connection to London Kings Cross as well as regular local Intercitytrain services to Leeds, the Wharf Valley, Aire Valley and beyond. Bradford has two railway stations at ForsterSquare and Bradford Interchange within the city centre and provides direct services to London Kings Cross in170 minutes, Manchester in 65 minutes and Leeds 20 minutes.
The city is also served by Leeds Bradford Airport lying approximately 8 miles north east of the city centre andbenefitting from direct flights to most key UK and European destinations.
Situation
The subject property is located on the A650 Tong Street, approximately 1.5 miles south east of Bradford CityCentre. This is a major road link between south east Bradford, Morley, Wakefield and the south of Leeds andleads directly to Junction 27 of the M62.
Immediately opposite the site lies Highfields Health Centre incorporating a Lloyds Pharmacy. Subway andKFC are in close proximity to the subject site. Tong Street is also home to a number of trade counter operatorsincluding Screwfix, Toolstation, Top Tiles, C T Glass Ltd and Yesss Electrical.
Approximately 1 mile south of the subject property lies Avenue Retail Park where occupiers include Icelandand Wynsors Shoes to name but a few.
Description
The property comprises two high specification trade counter units extending to 39,804 sq ft (excludingmezzanine) and 6,053 sq ft respectively on a site extending to approximately 3 acres. The units which areboth of modern steel portal frame construction with a mixture of brick and profile metal cladding were built in2008.
Unit A is currently occupied by Selco who utilise the unit as a builders warehouse for trade purposes and unitB is currently occupied by Plumbase incorporating a Reflections Showroom who utilise the unit as a plumbersmerchant.
The property comprises a total site area of approximately 1.223 hectares (3.023 acres) providing a low sitecoverage of circa 35%.
148 TONG STREET (A650), BRADFORD, BD4 9PP
Tenancy
The property is let in its entirety to Selco Trade Centres Limited (T/A Selco Builders Warehouse andPlumbase) on a 25 year lease from 10th September 2008. The passing rent is £320,756 per annumand is subject to five yearly upward only open market rent reviews.
The lease has the benefit of a parent rental guarantee from Grafton Group (UK) Plc.
Accommodation Summary
Energy Performance Certificate
Full copies of the EPC’s are available upon request.
Description Gross Internal Area
Sq m Sq ft
Unit A – (Occupied by
Selco)
3,697.89 39,804
Mezzanine 238.41 2,566
Sub- Total 3,936.31 42,370
Unit B- (Occupied by
Plumbase)
562.36 6,053
Total 4,498.66 48,424
148 TONG STREET (A650), BRADFORD, BD4 9PP
Covenant
Selco Trade Centres Limited (Company Number: 02182671)
Selco is one of the UK’s leading and fastest growing builder’s merchants with in excess of 61 branches nationwide.It is a privately owned limited company with a Credit safe rating of 91 (out of 100), reflecting very good creditworthiness and an international score of ‘A’ demonstrating a very low risk. A summary of the latest filed accounts isbelow and for further information please visit: http://www.selcobw.com
Grafton Group (UK) Public Limited Company (Company Number: 02886378)
Grafton Group Plc is a predominantly UK and Ireland based building materials group with 603 branches. The groupinclude brands such as Selco, Plumbase, Buildbase, Corgi Direct, Chadwicks and Telfords and has a CreditsafeRating of 97 (out of 100), reflecting a very good credit worthiness and an International score of ‘A’ demonstrating avery low risk. A summary of the latest filed accounts is below, and for further information please visit:http://graftonplc.com
December 2017 December 2016 December 2015 December 2014 December 2013
Turnover £460,096,000 £399,628,000 £354,542,000 £315,364,000 £261,622,000
Profit /
Loss
£43,538,000 £46,540,000 £46,307,000 £39,289,000 £25,051,000
Net
Worth
£95,548,000 £60,697,000 £43,377,000 £42,199,000 £50,605,000
December 2017 December 2016 December 2015 December 2014 December 2013
Turnover €3,029,237,992 €2,796,616,767 €2,503,752,250 €2,470,336,655 €1,899,768,000
Profit /
Loss
€172,274,714 €127,431,155 €136,200,437 €120,147,436 €67,721,000
Net
Worth
€589,490,251 €503,319,989 €488,425,187 €494,069,467 €389,276,000
Misrepresentation Act 1967: Messrs Sanderson Weatherall LLP for itself and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1) These
particulars do not constitute any part of an offer or contract; 2) None of the statements contained in these particulars as to the properties are to be relied on as statements of
representations of fact; 3) Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars;
4) The vendor(s) or lessor(s) do not make or give and neither Messrs Sanderson Weatherall LLP nor any person in their employment has any authority to make or give any
representation or warranty whatsoever in relation to this property; 5) None of the building’s services or service installations (whether these be the specific responsibility of the
freeholder, lessor or lessee) have been tested and are not warranted to be in working order. Finance Act 1989: Unless otherwise stated all prices and rents are quoted exclusive of
VAT. Consumer Protection from Unfair Trading Regulations 2008 and Business Protection from Misleading Marketing Regulations 2008; Every reasonable effort has been made by
Sanderson Weatherall to ensure accuracy and to check the facts contained in these particulars are complete. Interested parties are strongly advised to take appropriate steps to
verify by independent inspection or enquiry all information for themselves and to take appropriate professional advice.
Sanderson Weatherall LLP Registered in England company number OC 344 770 Registered Office 6th floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL
sw.co.ukJanuary 2019
Further Information
For further information please contact the Sole Selling Agent:
Jonathon White
0113 221 6141
Jay Dhesi
0113 221 6208
Price
We are seeking offers over £5,500,000 for our
client’s interest subject to contract and
exclusive of VAT. A purchase at this level
would reflect an attractive 5.47% NIY assuming purchaser’s costs at 6.61%.
