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Accommodation
We have been advised that the property provides the following Net Internal floor areas:
| Ground Floor | 192.03 sq m | 2,067 sq ft |
| ITZA | 122.63 sq m | 1,320 sq ft |
| First Floor | 143.07 sq m | 1,540 sq ft |
| Second Floor | 57.23 sq m | 616 sq ft |
| Total | 514.96 sq m | 5,543 sq ft |
EPC
The property has an EPC rating of ‘C’ which is valid until 8th July 2035.
Tenure
Freehold.
Tenancy
The entire property is let to Sportswift Limited (t/a Card Factory) on a full repairing and insuring lease for a term of 5 years from 18th August 2025, expiring on 17th August 2030. There is a tenant break option on 17th August 2028, subject to six months’ notice.
We understand the tenant has been in occupation since 2013 and entered into a lease renewal in August 2025, demonstrating their commitment to this location. The rent was re-based from £60,000 per annum to the current passing rent of £45,000 per annum.
Covenant
Sportswift Limited (Co. No 3493972) has reported the following figures:
| Year Ending | 31st January 2025 | 31st January 2024 |
| Revenue | £507,769,000 | £483,251,000 |
| Pre-Tax Profits | £72,957,000 | £68,568,000 |
| Net Assets | £71,490,000 | £163,364,000 |
UK Store sales of £493.8 million increased by £25.6 million or +5.5% compared to the prior year, with like-for-like sales of +3.3%.
Sportswift Limited, trading as Card Factory, is the UK’s leading specialist retailer of greeting cards, dressings and gifts with an estate of over 1,000 stores across UK and Ireland, their website www.cardfactory.co.uk and supply through franchise stores and partner stores mainly in the UK and Australia. The company is part of the Card Factory plc Group.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek a figure of £475,000 (Four Hundred and Seventy-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 9.0%, assuming purchasers’ costs of 4.59%.
Please note that a purchaser will be re-charged the costs of the searches (£1,977.02) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1% of the Purchase Price plus VAT.
Investment Considerations
An opportunity to acquire a freehold retail investment;
The property is situated in an area of significant regeneration, immediately adjacent to the former Crompton Place Shopping Centre redevelopment site, one of Britain’s largest inner town centre development spaces;
Highly secure income – let to Sportswift Limited (Pre-Tax Profits £73m);
Lease renewal from August 2025;
Rebased rent;
Future redevelopment potential of the upper parts, subject to planning;
A purchase at the asking price reflects an attractive net initial yield;
Attractive lot size to an investor;
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