• Highly secure retail investment opportunity

• Let to Poundland Limited (Net Assets £95.7m)

• New lease from March 2017

• Re-based rent

• Substantial 1.85 acre site in prominent town centre location

• Located close to Poundland’s HQ

• £1,150,000, subject to contract

• 9.0% net initial yield

The property occupies a prominent position fronting the busy B4464 New Road at the junction with Ensdale Row, within the heart of Willenhall town centre. The B4464 forms one of the principal routes from the town to the A454 which lies approximately 0.8 km (0.5 miles) west of the subject property.

The property is in an established location surrounded by a blend of commercial uses and residential housing. A Lidl supermarket is situated within 300 feet of the property on New Road and a Morrisons supermarket is approximately 0.4 km (0.25 miles) to the north-east.

The property is situated approximately 1.6 km (1 mile) north-east of Poundland’s head office.

Much of Willenhall town centre is a designated conservation area and a programme of £1 million has been undertaken to support enhancements to local buildings, funded by Heritage Lottery and Walsall Housing Group (Source: Walsall Council).

The property occupies a large corner site comprising a detached retail property fronting New Road. The property, which is a former supermarket, is of portal frame and brick construction beneath a slated pitched roof. There is a goods entrance and loading area at the rear. The property benefits from a large surface car park for approximately 137 cars.

Internally, the property has been fitted out by the tenant to a high standard in their usual corporate style. The main retail area is open plan with the tenants merchandise strategically laid out across the store. There is also an area for storage as well as for staff accommodation.

We estimate the site area to be approximately 0.75 hectares (1.85 acres).

The property is not situated within a Conservation Area.

An Environmental Desk Study was carried out by WSP in April 2017. The report concluded that the site represents a low/medium risk with respect to potential contaminated land liability issues and that “no further contaminated land assessment works are considered necessary for the continued on going retail use of the site”. A copy of this report is available to download and can be made assignable to a purchaser.

Freehold.

Poundland Limited (Co. No. 02495645) has reported the following figures:

Poundland is Europe’s largest single price value retailer, offering for sale throughout the UK, Ireland and Isle of Man a wide variety of general merchandise from 850 high street, city centre and retail park stores. The Company trades under the “Poundland” fascia in the UK where all items of merchandise have a single selling price of £1 and under the “Dealz” facia in republic of Ireland, where the majority of products have a selling price of €1.50.

In September 2015 Poundland Limited acquired 99p Stores Limited and subsidiary undertakings by Poundland Group plc, the Company’s ultimate parent. This added 252 stores to the Group portfolio, an increase of 40%. By the end of April 2016, 235 of the 99p Stores had been rebranded as Poundland. For further information visit www.poundland.co.uk.

In July 2016 the South African retail conglomerate, Steinhoff Europe AG acquired Poundland for £597 million. Steinhoff also owns Harveys and Bensons for Beds in the United Kingdom and the parent company, Steinhoff International, was listed on the Frankfurt Stock Exchange in December 2015 with a market capitalisation of 19.27 billion Euros.

Poundland’s head office is situated in Willenhall, approximately 1 km (1 mile) from the subject property.

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 store investment;

2. The investment provides highly secure income being let to Poundland Limited – Net Assets £95.7 million;

3. New letting from March 2017 at a re-based rent;

4. A prominent retail store, formerly a supermarket, with extensive frontage and its own designated car park;

5. The property is located close to Poundland’s Headquarters;

6. Substantial site comprising 1.85 acres;

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