Full particulars (.pdf) - GCW
Full particulars (.pdf) - GCW
Full particulars (.pdf) - GCW
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
LONG DATED INCOME, FREEHOLD FOOD STORE INVESTMENT<br />
Co-Op | 1 Walderslade Road | Chatham | Kent | ME5 9LL<br />
5a 1 COVENANT<br />
EPC<br />
Covenant<br />
The property is now vested in Co-operative Group Limited. Cooperative<br />
Group Limited is the UK’s largest mutual business,<br />
owned by almost six million consumers. It is the UK’s fifth biggest<br />
food retailer, the leading convenience store operator and a major<br />
financial services provider, operating both The Co-operative Bank<br />
and The Co-operative Insurance. Among its other businesses are<br />
funeral services and Britain’s largest farming group. The Group<br />
operates over 5,000 retail trading outlets, employs more than<br />
110,000.<br />
Co-operative Group Limited has a Dun & Bradstreet credit rating<br />
of 5A 1.<br />
Their recent accounts are summarised as follows:<br />
VAT<br />
The property is elected for VAT and as such it will be payable on<br />
the purchase price.<br />
Year Ending – Currency £000’s<br />
Turnover Pre-tax Profit Tangible Net Worth<br />
01/01/11 12,886,100 310,400 2,950,700<br />
02/01/10 12,489,200 294,800 2,694,900<br />
10/01/09 9,361,400 115,900 3,071,100<br />
Proposal<br />
We are instructed to seek offer in excess of £5,570,000, subject<br />
to contract, and exclusive of VAT, for the freehold interest in the<br />
above property. A purchase at this level would reflect the following<br />
yield profile based on acquisition costs of 5.80%:-<br />
Net Initial Yield 4.50%<br />
Nominal Equivalent Yield 5.21%<br />
True Equivalent Yield 5.38%<br />
Reversionary Yield 5.35 %<br />
Further Information<br />
James Pearson<br />
Oli Horton<br />
020 7647 4817 020 7647 4806<br />
james.pearson@gcw.co.uk oliver.horton@gcw.co.uk<br />
Allan House<br />
10 John Princes Street<br />
London W1G 0JW<br />
chartered surveyors<br />
020 7408 0030<br />
T: 020 7408 0030<br />
F: 020 7495 4248<br />
W: www.gcw.co.uk<br />
www.gcw.co.uk<br />
Whilst every effort has been made to ensure accuracy, no responsibility<br />
is taken for any error, omission or mis-statement in these <strong>particulars</strong><br />
which do not constitute an offer or contract. No responsibility or warranty<br />
whatever is made or given either during negotiations or in <strong>particulars</strong> by<br />
vendor, lessor or the agent. Gooch Cunliffe Whale Limited Registered in<br />
England No 2446386 Registered office: 30 City Road, London EC1Y 2AB<br />
VAT No 524 1923 63. April 2012.
Change language