• Popular retail and tourist location

• Prime retailing pitch, adjacent to Marks & Spencer

• Highly secure income

• Let to SportsDirect.com – Pre-Tax Profits £302.5m

• Asset management opportunities

• Offers in excess of £900,000, subject to contract

• 7.1% net initial yield

Retailing in Weymouth is primarily arranged along the pedestrianised St Mary Street and St Thomas Street which are home to numerous national occupiers plus a number of local retailers, cafes and bars.

The subject property occupies a prime retailing pitch on St Mary Street, immediately adjacent to Marks & Spencer. Other surrounding occupiers include WHSmith, Boots, O2, Dorothy Perkins, Mountain Warehouse, Costa, Clintons, Bonmarche, Nationwide and Lloyds Bank.

The New Bond Street shopping centre is some 500 feet from the subject property. Totalling 15,842 sq m (170,522 sq ft), the centre is anchored by Debenhams, Peacocks, TK Maxx and Cineworld with other retailers including New Look, Superdrug, JD Sports and The Body Shop.

The property, arranged over ground and three upper floors, comprises a well-configured double-fronted retail unit on ground floor which has the flexibility of being sub-divided in the future, subject to planning, to provide two units of similar size.

Internally, the property has been fitted out by the tenant to their usual corporate style to provide a main retail area on ground floor with storage/ancillary accommodation on first floor. The second and third floors are not currently used by the tenant.

The property benefits from a rear entrance accessed via New Street.

The property is not listed and is within the Weymouth Town Centre Conservation Area.

According to the VOA, the Rateable Value for the property is £59,500.

The Uniform Business Rate is 48 pence per pound.

Freehold.

SportsDirect.com Retail Limited (Co. No.03406347) has reported the following figures;

The company’s parent company is Sports Direct International PLC, the UK’s largest sporting goods retailer, operating a diversified portfolio of sports, fitness, fashion and lifestyle fascias and brands.

Listed on the London Stock Exchange and a constituent of the FTSE 250 Index, in 2016 Group revenue was £2.9bn, and underlying EBITDA was £381.4m. The Group operates approximately 700 sports stores across the UK and continental Europe, and approximately 80 Premium Lifestyle stores in the UK. Sports Direct own a large portfolio of globally recognised sports, fashion and lifestyle brands, including Slazenger, Everlast, Lonsdale, Karrimor, Kangol, No Fear and Firetrap.

The Group, which commenced trading as a single store in Maidenhead in 1982, now operates approximately 427 sports stores in the UK alone, the majority of which trade under the SPORTSDIRECT.com fascia. The Premium Lifestyle division operates under fascia’s which include Flannels, Cruise, USC and Van Mildert. Internationally the Group currently operates c.270 stores in 19 European countries, with a strategy to expand into all major EEA countries over the next 3-5 years.

For further information, please visit www.sportsdirect.com and www.sportsdirectplc.com.

There is an opportunity for an investor to add value by re-gearing the existing lease.

If the premises had to be re-let in the open market we suggest it would appeal to various retailers as a whole or alternatively it would lend itself to being split for multiple occupation.

In addition, as the current tenant is only using the ground floor and part first floor, an opportunity may exist to take back the upper parts and seek a change of use to residential, subject to receipt of planning permission.

An investor could also, subject to planning, seek to extend the ground floor shop or create an additional retail unit with an entrance fronting New Street, leading directly onto The Esplanade and the attractive seafront.

We are instructed to seek offers in excess of £900,000 (Nine Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 7.1%, assuming purchaser’s costs of 5.63%.

1. An opportunity to acquire a freehold retail investment in the heart of Weymouth town centre;

2. The investment provides highly secure income being let to SportsDirect.com Retail Limited – Pre-Tax Profits £302.5 million, Net Assets £1,202 million;

3. The property occupies a prime retailing pitch, adjacent to Marks & Spencer;

4. The investment provides asset management opportunities;

5. Weymouth is a popular retail and tourist destination on the south coast;

6. Attractive lot size to an investor;

7. A purchase at the asking price reflects an attractive net initial yield.