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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.
Le centre commercial Menai était auparavant ancré par un grand magasin Debenhams. Le magasin doit devenir un important centre de santé et de bien-être avec un investissement d'environ 30 millions de livres sterling approuvé par le conseil de santé de l'université Betsi Cadwaladr et le conseil de Gwynedd. Les plans ont été soumis au conseil de santé et au gouvernement gallois pour approbation officielle. Des contrats ont été échangés pour vendre un intérêt à bail emphytéotique au conseil de santé pour le centre et il est prévu que l'achèvement ait lieu en 2025 une fois l'approbation du gouvernement gallois accordée.
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.
Hébergement
La propriété a été mesurée par BKR Floor Plans et fournit les surfaces de plancher internes nettes suivantes :
| Façade nette | 5.94 m | 19?6? |
| Façade brute | 6,55 m | 21?6? |
| Zone A | 35.30 sq m | 380 sq ft |
| ZoneB | 33.82 sq m | 364 sq ft |
| ZoneC | 25,64 m² | 276 pieds carrés |
| ITZA | 631 | |
| Total | 94.76 sq m | 1,020 sq ft |
Un ensemble de plans d'étage est disponible en téléchargement.
Valeur imposable
According to the Valuation Office website the rateable value for the property is £22,000.
The business rates multiplier is 0.562.
Mandat
Pleine propriété
Location
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 £ par an 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.
Engagement
The tenant, Done Brothers (Cash Betting) Limited (Co. No. 01277703), has reported the following figures;
| 1st October 2023 | 1er octobre 2022 | |
| Chiffre d'affaires | £432,162,000 | 418 840 000 £ |
| Bénéfices (pertes) avant impôt | (£36,069,000)* | 40 464 000 £ |
| Actionnaires? Fonds | £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.
Pour plus d'informations visitez www.betfredgroup.com.
T.V.A.
The property has not been registered for VAT and therefore VAT is not applicable.
Proposition
On nous demande de chercher un chiffre de 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.
Veuillez noter qu'un acheteur se verra facturer des frais de transaction de 5 000 £ plus TVA.
Considérations d'investissement
An opportunity to acquire a VAT-free investment in an area of significant regeneration;
The property occupies a prominent position in the town centre;
Pleine propriété ;
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;
Un achat au prix demandé reflète un rendement initial net attractif ;
Taille de terrain attrayante pour un investisseur.
