PRIME RETAIL INVESTMENT - Propex

Covenant Information
Holland & Barrett Retail Limited
D&B rating - 5A1
30 Sep 2010 30 Sep 2009 30 Sep 2008
(£000’s) (£000’s) (£000’s)
Sales Turnover 275,571 249,645 244,303
Profit / (Loss) Before Tax 47,716 41,161 46,284
Tangible Net Worth 91,532 93,441 75,736
Net Current Assets
(Liabilities)
39,999 56,689 38,269
Redcastle Limited
D&B rating - 5A2
28 Aug 2010 29 Aug 2009 30 Aug 2008
(£000’s) (£000’s) (£000’s)
Sales Turnover 262,785 257,723 253,416
Profit / (Loss) Before Tax (14,684) (20,150) (8,157)
Tangible Net Worth 293,104 304,946 319,854
Net Current Assets
(Liabilities)
128,468 140,460 150,549
Arcadia Group PLC (guarantor to Redcastle Limited)
D&B rating - 5A1
28 Aug 2010 29 Aug 2009 30 Aug 2008
(£000’s) (£000’s) (£000’s)
Sales Turnover 146,923 67,931 66,853
Profit / (Loss) Before Tax 19,845 57,745 94,886
Tangible Net Worth 1,092,763 1,076,321 1,020,911
Net Current Assets
(Liabilities)
(105,795) (76,413) (115,622)
T
Penrhyn
Tan-y-fynwent/Garden
Offices
Of Rest
Canolfan Yr Esgobaeth
STRYD WATERLOO/WATERLOO STREET
TAN-Y-FYNWENT
Offices
Canolfan Yr Esgobaeth
STRYD WATERLOO/WATERLOO STREET
217
Tenure
We understand that 255/257 is held freehold, whilst 253 is held on a
999 year lease at a peppercorn.
Planning
We believe the current use on both retail units falls within class A1 of
the Town and Country Planning (Use Classes) order 1987 (as originally
enacted). We do not believe that any of the properties are listed
but understand that they are within the Bangor Conservation area.
Interested parties should make their own enquiries, Gwynedd Council
(Planning 01766 771000).
VAT
Posts
0m 10m 20m
Posts
30m
218
3
PH
219to225
PH
219to225
Neuadd
Penrhyn
227to231
224
Posts
227to231
1
We understand that the premises are registered for VAT although it is
envisaged that the sale will be dealt with as a TOGC.
Proposal
226
Posts
2
3
228
233
217 235
218
3
224
1
226
2
3
233
235
24
0m 10m 20m 30m
228
230
230
24
4
232
23
Llys
Gwynedd
4
232
23
234
5
22
237
234
5
22
237
6
21
6
7
21
8
20
241
7
8
Ps
241
8
20
19
STRYD ISAF/LOWER STREET
8
19
STRYD ISAF/LOWER STREET
Canolfan Dein
243
25
2
10
245
244
1
11
Canolfan Deiniol Centre
243
2
18
9
245
244
1
18
54
247
250
246
to
Ambassadors
The Piazza
52
13
251
EBENEZER
Cottage
50
42.3m
We are instructed by Nigel Nutting and Mark Fry, acting as joint
Administrators of Cathco Property Holdings Ltd, to seek offers in
excess of £1,320,000 (One Million Three Hundred and Twenty
Thousand Pounds), subject to contract and exclusive of VAT, for the
freehold interest.
14
255 to
Ordnance Survey © Crown Copyright 2011. All rights reserved.
Licence number 100020449. Plotted Scale - 1:1250
54
247
246
to
250
Ambassadors
16 17
52
12
50
255 to
EBENEZER
Cottage
42.3m
Ordnance Survey © Crown Copyright 2011. All rights reserved.
Licence number 100020449. Plotted Scale - 1:1250
17
251
252
257
252
259
51
Ps
256
257
1
42
263
1
259
PLACE
51
258
Ps
256
42
Posts
1
263
3
PLACE
262
258
41
264 264a
38.2m
3
Ps
15
262
41
266
Clock Tower
YORK PLACE
28
264 264a
38.2m
PO
2
Ps
Ebenezer
266
PO
YORK PLACE
31
28
2
Ebenezer
31
6
275
268
21
28.1m
TCBs
6
21
STRYD FAWR/HIGH S
York House
11
28.1m
272
York House
11
1
Ps
274
276
1
78
RHES PLAS LLWYD/PLAS LLWYD TERRACE
Path
1
Path
ERRACE
Further Information
Andrew Inglis
T: 020 7544 2040
E: andrew.inglis@capita.co.uk
Andrew McDonald
T: 020 7544 2198
E: andrew.j.mcdonald@capita.co.uk
capitasymonds.co.uk/realestate
020 7544 2000
Capita Symonds
25 Sackville Street
London
W1S 3HQ
Tel: +44 (0)20 7544 2000
Fax: +44 (0)20 7544 2222
Note: NB Real Estate Markets Ltd, trading as Capita Symonds, Part of The Capita Group Plc, ("NBML")
for itself and as agent for the vendors or lessors (the "Seller") of this property, gives notice that
(1) These particulars do not constitute any part of an offer or a contract (2) Whilst every attempt
has been made to ensure accuracy, this cannot be guaranteed and, therefore (save as set out at (6)
below), (a) all statements and descriptions in these particulars as to this property are made without
responsibility or liability on the part of NBML or the Seller, (b) no such statements or descriptions
are to be relied on as statements or representations of fact (c) all measurements are approximate
and no responsibility is taken for any error, omission or misstatement and (d) any intending
purchasers or lessees must satisfy themselves by inspection or otherwise as to the correctness
of each of the statements, descriptions and measurements contained in these particulars (3) The
Seller does not make or give, and neither NBML nor any of its employees or agents makes or gives
nor has any authority to make or give, any representation or warranty whatsoever in relation to
this property. (4) Unless otherwise stated, all prices and rents are quoted exclusive of VAT and no
statement is made as to the incidence of VAT. (5) No liability is accepted and no representation is
made by either NBML or the Seller in respect of the presence, condition, adequacy or usability of
any telecommunications or computer systems or equipment at the property, any software loaded
thereon, or any related cabling or infrastructure. (6) This property is being marketed on behalf of
the joint Administrators of Cathco Holdings Ltd and therefore no warranties or guarantees in any
respect, including but not limited to VAT, can be given. The joint Administrators are not bound to
accept the highest or any offer and are acting without personal liability. (7) Nothing herein shall
exclude any liability which either the Seller or NBML would otherwise have for any fraudulent
concealment or for any statements made fraudulently by it, its employees or agents.
A purchase at this level would show a net Initial Yield of 8.57%,
allowing for the usual purchaser costs of 5.8%.
September 2011.
Adrian Gates Photography & Brochures 07710 316 991
253/257 HIGH STREET BANGOR, NORTH WALES LL57 1PB