The Forum Market Hall Street Cannock Staffordshire WS11 1EB

  • The Forum<br>Market Hall Street<br>Cannock<br>Staffordshire<br>WS11 1EB

The Forum
Market Hall Street
Cannock
Staffordshire
WS11 1EB

Town Centre Shopping Centre Investment

  • Substantial shopping centre currently comprising 10 retail units totalling 29,805 sq ft
  • Tenants include Clarks, Wilko, Dorothy Perkins, Clintons and Shoe Zone
  • Well located on the pedestrianised Market Hall Street
  • Nearby occupiers include Boots, H Samuel, Costa and JD Sports
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    71
  • Auction
    13th October 2016
  • Rent
    £330,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager
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Town Centre Shopping Centre Investment

  • Substantial shopping centre currently comprising 10 retail units totalling 29,805 sq ft
  • Tenants include Clarks, Wilko, Dorothy Perkins, Clintons and Shoe Zone
  • Well located on the pedestrianised Market Hall Street
  • Nearby occupiers include Boots, H Samuel, Costa and JD Sports
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 71
  • Auction 13th October 2016
  • Rent £330,000 per Annum Exclusive
  • Status Withdrawn Post
  • Price  
  • Sector
    Shopping Centre
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On Behalf of a Major Fund Manager

Property Information

Location
Miles
10 miles south of Stafford, 16 miles north of Birmingham, 33 miles south west of Derby
Roads
A34, A5, M6 Toll (Junction 11)
Rail
Cannock Rail
Air
Birmingham International Airport
Situation

Cannock is a popular market town and one of Staffordshire’s principle commercial centres. The centre is located off the pedestrianised Market Hall Street diagonally opposite the Cannock Shopping Centre, forming part of the principal retailing area. The property benefits from being within close proximity of Market Hall Multi Storey car park and Cannock’s main bus station and Rail Station. The Cannock Shopping Centre houses retailers including Costa Coffee, JD Sports and Poundland. Other nearby occupiers include Boots, H Samuel and Card Factory.

Tenure

Long Leasehold. Held by Cannock Chase District Council for a term of 125 years from 28/03/1974 until 28/03/2099 and extended for a further term from 29/03/2099 until and including 31/12/2112 at a peppercorn rent.

Location
Miles
10 miles south of Stafford, 16 miles north of Birmingham, 33 miles south west of Derby
Roads
A34, A5, M6 Toll (Junction 11)
Rail
Cannock Rail
Air
Birmingham International Airport
Situation

Cannock is a popular market town and one of Staffordshire’s principle commercial centres. The centre is located off the pedestrianised Market Hall Street diagonally opposite the Cannock Shopping Centre, forming part of the principal retailing area. The property benefits from being within close proximity of Market Hall Multi Storey car park and Cannock’s main bus station and Rail Station. The Cannock Shopping Centre houses retailers including Costa Coffee, JD Sports and Poundland. Other nearby occupiers include Boots, H Samuel and Card Factory.

Tenure

Long Leasehold. Held by Cannock Chase District Council for a term of 125 years from 28/03/1974 until 28/03/2099 and extended for a further term from 29/03/2099 until and including 31/12/2112 at a peppercorn rent.

Description

The property comprises a shopping centre currently providing 10 retail units on the ground floor with first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a shopping centre currently providing 10 retail units on the ground floor with first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1A Ground
First
Retail
Ancillary
129.32 sq m
67.82 sq m
(1,392 sq ft)
(730 sq ft)
SHOE ZONE LIMITED
(t/a Shoe Zone) (1)
10 years from
17/07/2009
£52,500 17/07/2014
(16/07/2019)
1B/1C Ground
First
Retail
Ancillary
105.17 sq m
100.71 sq m
1,132 sq ft)
(1,084 sq ft)
C & J CLARK INTERNATIONAL
LIMITED (2) (t/a Clarks Shoes)
15 years from
11/12/2002
£54,500 (10/12/2017)
2/3 Ground
First
Retail
Ancillary
169.83 sq m
90.39 sq m
(1,828sq ft)
(973 sq ft)
A G RETAIL CARDS
LIMITED (3)
(t/a Clintons Cards)
Approximately 5 years and 6 months from 29/08/2012 £45,000 (02/02/2018)
4 Ground
First
Retail
Ancillary
566.34 sq m
305.56 sq m
(6,096 sq ft)
(3,289 sq ft)
WILKO RETAIL LIMITED (4)
(t/a Wilko)
5 years from 01/05/2015 (5) £40,000 (30/04/2020)
5A Ground
First
Retail
Ancillary
189.71 sq m
115.11 sq m
(2,042 sq ft)
(1,239 sq ft)
BONMARCHE LIMITED (6)
(t/a Bonmarché)
Approximately 6 years and 4 months from 22/11/2011 £52,500 (24/03/2018)
5B Ground
First
Retail
Ancillary
86.59 sq m
110.09 sq m
(932 sq ft)
(1,185 sq ft)
VACANT
POSSESSION
- - -
6A Ground Retail
Ancillary
48.40 sq m
(521 sq ft)
UNDER OFFER (7)      
6 Ground
First
Retail
Ancillary
75.81 sq m
33.72 sq m
(816 sq ft)
(363 sq ft)
WARREN JAMES (JEWELLERS)
LIMITED (8)
(t/a Warren James)
15 years from
30/09/2004
£25,500 (29/09/2019)
7 Ground
First
Retail
Ancillary
67.26 sq m
40.88 sq m
(724 sq ft)
(440 sq ft)
TCCT RETAIL
LIMITED GUARANTEED BY THOMAS COOK GROUP UK LIMITED (9)
(t/a Thomas Cook)
5 years from
16/02/2015 (10)
£20,000 (15/02/2020)
8 Ground
First
Retail
Ancillary
245.17 sq m
221.11 sq m
(2,639 sq ft)
(2,380 sq ft)
BURTON/DOROTHY PERKINS
PROPERTIES LIMITED (11)
(t/a Dorothy Perkins)
5 years from
29/09/2014 (12)
£40,000 (28/09/2019)
Total    
2,768.99 sq m
(29,805 sq ft)
    £330,000  

(1) For the year ending October 2015, Shoe Zone Retail Limited (formerly Shoe Zone Limited) reported a turnover of £166,819,000, pre-tax profits of £12,723,000 and a total net worth of £36,809,000. (Source: Experian Group 14/09/2016). Shoe Zone operate from a portfolio of over 500 stores and employ approximately 3,750 employees across the UK and the Republic of Ireland. (Source: shoezone.com 14/09/2016)
(2) For the year ending January 206, C & J Clark International Limited reported a turnover of £935,400,000, pre-tax profits of £71,300,000 and a total net worth of £362,800,000. (Source: Experian Group 14/09/2016) Clarks operate more than 1,400 stores across the world with 450 of them in the UK. (Source: Clarksjobs.com 14/09/2016.)
(3) Clintons was founded in 1968 and is a leading retailer of greeting cards, gifts and wrap. There are currently over 400 stores all over the UK. (Source: Clintonsretail.com 14/09/2016)
(4) For the year ending January 2016, Wilko Retail Limited reported a turnover of £1,464,475,000, pre-tax profits of £25,955,000 and a total net worth of £182,398,000. (Source: Experian Group 14/09/2016). Wilkos is a leading variety retailer with over 380 stores and more than four million customers visiting every week. (Source: Wilko.com 14/09/2016)
(5) The lease of unit 4 provides a tenant option to determine on 01/05/2017.
(6) For the year ending March 2016, Bonmarche Limited reported a turnover of £187,963,000, pre-tax profits of £10,537,000 and a total net worth of £30,109,000. (Source: Experian Group 14/09/2016). The Bonmarché business operates out of 300+ stores across the UK (Source: Bonmarcheplc.com 01/09/2016).
(7) Terms have been agreed for a new 5 year lease to Vape Boss Limited at a rent of £11,000 p.a.x. Further information can be found in the legal pack.
(8) For the year ending March 2015, Warren James (Jewellers) Limited reported a turnover of £93,613,000, pre-tax profits of £36,667,000 and a total net worth of £148,459,000. (Source: Experian Group 14/09/2016). To date Warren James has 200 branches nationwide and has become one of the largest jewellers in the UK. (Source: warrenjames.co.uk 14/09/2016)
(9) The Thomas Cook Group is the oldest and best known name in leisure travel with a history of innovation that started in 1841, they now have nearly 800 stores around the country. (Source: thomascook.com 14/09/2016)
(10) The lease of unit 7 provides a tenant option to determine on 16/02/2018.
(11) Dorothy Perkins and Burton form part of the Arcadia Group Ltd. Established more than 95 years ago, Dorothy Perkins is now one of the biggest fashion retailers in the country, with nearly 600 UK stores and more than 124 international outlets (Source: dorothyperkins.com 07/09/2016). Burton are one of the UK's largest men's fashion retailers with over 400 stores in the UK and Ireland. (Source: burton.co.uk 07/09/2016)
(12) The lease of unit 8 provides a tenant option to determine on 29/09/2017.

Contacts

Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
Alexy Pemberton 020 7355 6008apemberton@hamlins.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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