• A prominent retail property with extensive high street frontage

• Let to the secure covenant of Wilko Limited (Net Assets £103 million)

• Low passing rent of £62.73 per sq m / £5.83 per sq ft overall

• Tenant has been in occupation since 1995 and did not exercise their February 2021 break option, demonstrating their commitment to the property

• Grade II listed (no empty rates payable)

• Situated in the heart of the town centre

• Freehold

• £1,200,000, subject to contract

• 10.0% Net Initial Yield

The property occupies a prominent position on the pedestrianised Market Street, in the heart of the town centre. Market Street along with George Street form the prime retail pitches in Tamworth.

The property also benefits from being adjacent to King Street which is a walkway linking Market Street with Church Street. Therefore, there is significant pedestrian footfall in and around the property.

The Ankerside Shopping Centre is a couple of minutes’ walk to the east. Occupiers include Boots, Iceland, Greggs, Costa, H Samuel, Specsavers, Vision Express, Vodafone and Holland & Barrett. In addition the scheme provides the town’s principle multi-storey car park of 730 spaces.

The historic Tamworth Castle, a popular tourist attraction, is immediately to the south.

The property is Grade II listed and comprises a large modern retail store behind a historic façade with an extension to the rear.

With an extensive frontage onto Market Street, the building is arranged over ground and first floor to provide an open plan retail sales area on ground floor with ancillary, storage and staff accommodation on the first floor. The unit benefits from a good lift and its own service yard which is accessed via Silver Street.

The property is Grade II listed (hence no empty rates payable) and is located within the Tamworth Town Centre Conservation Area.

Freehold.

Wilko Limited (Co. No. 00365335, formerly Wilko Retail Limited), has reported the following figures;

Wilko is classified as an ‘essential retailer’ and remained open throughout the entire pandemic lockdown periods in the UK.

The company is debt free with the accounts stating ‘nil banking facilities drawn’ with total closing cash at 30th January 2021 of £107.4 million. The company reported an EBITDA of £45.9 million, an increase of £4.8m on the previous financial year.

Wilko is a family owned private limited company which has been trading for more than 90 years. Established from a single shop in Leicester in 1930, today the company trades from more than 400 stores throughout the United Kingdom. In 2013 the company changed its name from Wilkinson to Wilko.

Wilko has an extensive range of over 14,000 own brand products including health & beauty, housewares, kitchenware, DIY, stationery, pet care products, gardening and toys. For further information visit www.wilko.com.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a freehold retail investment;

2. A prominent property with extensive frontage in the heart of the town centre;

3. The investment provides very secure income, being let to Wilko Limited (Net Assets £102.9 million);

4. The tenant has been in occupation since 1995 and did not exercise their February 2021 break option, demonstrating their commitment to the property;

5. The property is let off a low passing rent of £62.73 per sq m / £5.83 per sq ft;

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

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