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The Menai Shopping Centre ? New £30m Bangor Health Hub
The Menai Shopping Centre is within close proximity to the subject property and forms the central retail location in Bangor. Totalling some 130,000 sq ft, occupiers include JD Sports, Hays Travel, Three, The Factory Shop, Superdrug and Burger King.
Das Menai Shopping Centre war zuvor ein Debenhams-Kaufhaus. Das Geschäft soll zu einem bedeutenden Gesundheits- und Wellnesszentrum werden. Die Investition von rund 30 Millionen Pfund wurde vom Gesundheitsamt der Betsi Cadwaladr University und dem Gemeinderat von Gwynedd genehmigt. Die Pläne wurden dem Gesundheitsamt und der walisischen Regierung zur formellen Genehmigung vorgelegt. Es wurden Verträge ausgetauscht, um dem Gesundheitsamt ein langfristiges Pachtrecht für das Zentrum zu verkaufen. Es wird erwartet, dass die Fertigstellung im Jahr 2025 erfolgen wird, sobald die walisische Regierung die Genehmigung erteilt hat.
The development will provide a significant boost to Bangor city centre with an increase anticipated in footfall within the city centre as a result.
The Deiniol Shopping Centre is also within close proximity to the subject property. Comprising over 20 stores with 120 car parking spaces, retailers include Specsavers, Vision Express, EE, Vodafone, Subway, Timpson and Card Factory.
Unterkunft
Die Immobilie wurde von BKR Floor Plans vermessen und verfügt über die folgenden Netto-Innengrundflächen:
| Netzfront | 5.94 m | 19?6? |
| Bruttofassade | 6,55 m | 21?6? |
| Zone A | 35.30 sq m | 380 sq ft |
| Zone B | 33.82 sq m | 364 sq ft |
| Zone C | 25,64 m² | 25 m² |
| ITZA | 631 | |
| Gesamt | 94.76 sq m | 1,020 sq ft |
Eine Reihe von Grundrissen steht zum Download bereit.
Bewertbarer Wert
According to the Valuation Office website the rateable value for the property is £22,000.
The business rates multiplier is 0.562.
Amtszeit
Freier Halt
Mietverhältnis
The ground floor unit is let to Done Brothers (Cash Betting) Limited, t/a Betfred on a full repairing and insuring lease for a term of 10 years from 25th March 2020, expiring on 24th March 2030. The current passing rent is £30,000 per annum.
The lease includes a tenant?s break option on 24th March 2025. However, in accordance with a Deed of Variation dated 12th November 2024, this break clause has been moved to 24th March 2026, subject to six months? prior written notice. In the event this break clause is exercised, the tenant will have to pay the Landlord a break penalty of £10,000.
Also, in accordance with the Deed of Variation, with effect from 25th March 2025 the annual rent will be 20.000 £ pro Jahr for the remainder of the term.
The tenant has been in occupation since at least 2009 and entered into a lease renewal in June 2020, demonstrating their commitment to the property.
The first and second floors have been let on a 999 year lease from 1st April 2011 at a peppercorn rent.
Bund
The tenant, Done Brothers (Cash Betting) Limited (Co. No. 01277703), has reported the following figures;
| 1st October 2023 | 1. Oktober 2022 | |
| Umsatz | £432,162,000 | 418.840.000 £ |
| Gewinne (Verluste) vor Steuern | (£36,069,000)* | 40.464.000 £ |
| Aktionäre? Mittel | £42,344,000 | 90.399.000 £ |
*The accounts state that there were exceptional items totalling £82,646,000 including a charge relating to the prevision of amounts due from group undertakings which are no longer considered to be recoverable.
Incorporated in 1976, Done Brothers functions as a facilitator of gambling and betting activities. The primary activity of the company concerns retail bookmaking estate, trading under the Betfred name. The retail business consists of traditional Licensed Betting Offices (LBOs) situated at various locations throughout the United Kingdom. Done Brothers run 1,029 betting offices across the UK.
The ultimate parent company is Betfred Group Holdings Limited. Betfred is a recognised global brand in the betting and gambling industry. The company has over 50 years of history and continues to be owned by family. Betfred commits to values of fairness and safety, while continuing to prioritise customer satisfaction. For the year ending 1st October 2023 the company balance sheet reported Shareholders? Funds of £164,008,000.
Weitere Informationen finden Sie unter www.betfredgroup.com.
MwSt
The property has not been registered for VAT and therefore VAT is not applicable.
Vorschlag
Wir werden angewiesen, eine Zahl zu suchen 200.000 £ (Two Hundred Thousand Pounds), subject to contract, reflecting a net yield of 9.8% from March 2025 (assuming standard purchaser?s costs of 2.3%).
Please note that a purchaser will be re-charged the costs of the searches (£525.97) which are provided in the data room.
Bitte beachten Sie, dass dem Käufer eine Transaktionsgebühr von 5.000 £ zuzüglich Mehrwertsteuer berechnet wird.
Überlegungen zur Investition
An opportunity to acquire a VAT-free investment in an area of significant regeneration;
The property occupies a prominent position in the town centre;
Freier Halt;
Let to Betfred, one of the largest and most recognised businesses within the gambling industry;
Betfred have been in occupation since at least 2009 and have moved their March 2025 break option, demonstrating their commitment to the property;
Ein Kauf zum Angebotspreis spiegelt eine attraktive Nettoanfangsrendite wider;
Attraktive Grundstücksgröße für einen Investor.
