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Freehold investment opportunity •
In the heart of Derby’s premier shopping & leisure destination •
Successful cluster of complimentary retail and leisure occupiers •
Fixed rental increases •
Scope for value enhancement •
Investment Summary Specifications & financial information
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
Old Blacksmith’s Yard & 17-20 Sadler Gate has established itself as a prominent cluster of high quality, independent retail and leisure businesses in the historic heart of Derby.
Occupying a site of approximately a third of an acre and containing a private courtyard, Old Blacksmith’s Yard & 17-20 Sadler Gate comprise a significant portion of the Cathedral Quarter, Derby’s premier shopping & leisure destination.
Enjoying a healthy letting profile and fixed rental increases, this freeholdinvestment prospect also offers scope for further value enhancement and asset management opportunities.
• Site Area = 14,116 sq ft (1,311 sq m) • Floor-space = 12,614 sq ft (1,172 sq m) - Occupied = 10,773 sq ft (1001 sq m) - Under Offer = 776 sq ft (72 sq m) - Available = 1,105 sq ft (103 sq m)• Rent passing (with fixed increases) = £53,150 • Headline rent of current leases = £109,650
Situation
The Forge. 1 - 6 Old Blacksmith's Yard
Business: Bar & Gourmet Grill
Embers. 7 - 9 Old Blacksmith's Yard
Business: Wine Bar
Sadler Gate
Old Blacksmith’s Yard
Blacksmith’s Loft. 19 - 20 (Upper) Sadler Gate
Business: Rustic Fine Dining
Blacksmith’s Lounge. 19 - 20 (Lower) Sadler Gate
Business: Cocktail & Wine Bar
Anvil. 18 Sadler Gate
Business: Art Gallery & Fashion House
London Camera Exchange. 17 Sadler Gate
Business: Photographic Services
Under Offer to rent. 10 Old Blacksmith's Yard
Business: T.B.A
Available to rent. 18a & 18b Old Blacksmith's Yard
Business: T.B.A
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
The Forge. Bar & Gourmet Grill
Eat... drink...relax!EMBERS
Derby’s first gourmet burger bar offers a delicious range of 25 carefully crafted burgers using locally sourced meats. By night, the Forge operates as a relaxed bar serving a fine selection of craft beers and cocktails.
A recent £250,000 fit-out has transformed Embers in to one of the most up-market venues in Derby. A trendy café by day and a cosy champagne bar by night, Embers’ highly trained staff provide table service and extensive mixology expertise.
Embers. Wine Bar
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
1 - 6 Old Blacksmith’s Yard
3,769 sq ft (350 sq m)
14.07.14 - 13.01.20
£30,000 p.a
7 - 9 Old Blacksmith’s Yard
1,557 sq ft (145 sq m)
22.02.15 - 22.02.22
£23,000 p.a
Blacksmith’s Loft. Rustic Fine Dining
Blacksmith’s Loft has firmly established itself as one of the best eateries in Derby and consistently features in Derby’s top 20 restaurants on Trip Advisor.
Offering modern British and European dining within a sensitively refurbished listed building, Blacksmith’s Loft provides the perfect blend of contemporary comfort, historic surroundings and mouth-watering cuisine.
Blacksmiths Lounge provides the perfect accompaniment to the Blacksmith’s Loft restaurant above. Light snacks and sharing platters can be enjoyed with some great wines, creative cocktails, unique spirits and quality beers andreal ales.
Blacksmith’s Lounge. Cocktail & Wine Bar
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
19 - 20 Old Blacksmith’s Yard (Lower)
2,229 sq ft (207 sq m)
01.08.14 - 31.07.17
£14,000 p.a
19 - 20 Old Blacksmith’s Yard (Upper)
933 sq ft (87 sq m)
01.08.14 - 31.07.19
£17,500 p.a
The Anvil. Art Gallery & Fashion House
The Anvil is the studio of fine-artist April Young and fashion designer Tanya Burdina and plays host to regular open days and public workshop sessions.
April’s art project ‘Gifted’ seeks the input of local people into her sculptures to help provide a snapshot of life in the community.
London Camera Exchange can trace its origins back to the 1950’s. Today the business has grown to include a total of 28 shops throughout England.
The store on Sadler Gate has been faithfully advising local photography enthusiasts for many years and carries a range of stock chosen by its manager and staff rather than remote and faceless buyers.
London Camera Exchange. Photographic services
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
17 Sadler Gate
418 sq ft (39 sq m)
01.02.11 - 31.01.17
£15,150 p.a
18 Sadler Gate
1,827 sq ft (170 sq m)
01.06.14 - 31.05.17
£10,000 p.a
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
Tenancy Schedule
Unit
1 - 6 Old Blacksmith’s Yard
Occupier Approximate Area Lease Start Date Expiry Current Rent p.a Final Rent p.a Break
The Forge 3,769 sq ft (350 sq m) 14/07/2014 13/01/2020 £15,000 £30,000 Tenant break options on 14/1/16 & 14/1/18 on giving 3 months notice
19 - 20 Sadler gate - Ground Floor Blacksmith's Lounge 933 sq ft (87 sq m) 01/08/2014 31/07/2019 £10,000 £17,500 -
19 - 20 Sadler gate - Upper Floor
Total
Blacksmith's Loft 2,229 sq ft (207 sq m) 01/08/2014 31/07/2019 £6,000 £14,000
12,614 sq ft (1172 sq m) £53,150 £109,650
Tenant break On 3rd anniversary on giving 3 months notice
18 Sadler Gate The Anvil 1,827 sq ft (170 sq m) 01/06/2014 31/05/2017 £7,000 £10,000 Tenant break option on 1/12/15 upon providing 3 months notice
7 - 9 Old Blacksmith's Yard Embers 1,557 sq ft (145 sq m) 22/02/2015 22/02/2022 12 month Rent Free Period
£23,000 Tenant break option on the second anniversary upon providing six months notice
10 Old Blacksmith’s Yard Under offer 776 sq ft (72 sq m) - - - - -
18a Sadler Gate Space Available 834 sq ft (78 sq m) - - - - -
18b Sadler Gate Space Available 271 sq ft (25 sq m) - - - - -
17 Sadler Gate London Camera Exchange 418 sq ft (39 sq m) 01/02/2011 31/01/2017 £15,150 £15,150 -
Old Blacksmith’s Yard & 17 - 20 Sadler Gate
INVESTMENT FOR SALE
FHP, Innes England, and their clients give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and FHP have not tested any service, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Figures quoted in these particulars may be subject to VAT in addition. May 2015.
EPCs available on request
Interested? Call:Innes England – Chris Sinclair | t: 0115 943 5977 | m: 07929 204 405 | e: [email protected] – Noel Roper | t: 0115 841 1132 | m: 07711 211 511 | e: [email protected]
PRICE ON APPLICATION