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FOR SALE CAR DEALERSHIP INVESTMENT OPPORTUNITYRiverside Park, Fortune Close Northampton NN3 9HZ

ON 0.71 ACRES (0.29 HA)8,303 sq ft (771.4 sq m)

Photo: July 2020

Location

Northampton is a strategically located East Midlands town with a population of 224,610 (ONS 2018), an

estimated primary catchment population of 284,000, and nearly 350,000 people within a 20 minute

drive. Home to Barclaycard and Carlsberg, Northampton is located 67 miles (107.8 km) north-west of

London, 26.5 miles (42.7 km) East of Coventry, 29.1 miles (46.9 km) South of Leicester and 45.3 miles

(72.9 km) East of Birmingham. Northampton railway station provides 3 trains per hour to London Euston

(59-minute journey) and Birmingham (65-minutes). The M1 connects Northampton to other major cities

from London up to Leeds as well as a fast route connecting Northampton and Milton Keynes (19.5 miles).

The City lies within the Oxford – Cambridge Arc, an economic growth area.

Situation

Spirit Hyundai is positioned 5.8 miles east of Junction 15 M1 in the heart of Riverside Retail Park on

Fortune Close just off of the busy A45. The property is directly adjacent to David Wilson Homes Regional

Office, Bristol Street Peugeot, and Northampton Motors Mazda. Within Riverside Park there are several

other dealerships including; Mercedes, Ford, Toyota, Volkswagen, Honda, Nissan, and Vauxhall.

Nearby Riverside Retail Park is home to many retail occupiers including; Next, Homebase, Furniture

Village, Boots, Pets at Home, Poundland, Sports Direct, Blacks, Currys PC World, and Halfords. The retail

park also houses several restaurants including Subway, McDonald’s, Harvester, Costa and Pizza Hut.

Investment Summary

Dealerships located close by include: Nearby Riverside Retail Park occupiers include:

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Let to regional Hyundai champion, one of the brands at the leading edge in the introduction of Electric Vehicles.

Modern compact car dealership comprising 8,303 sq ft (771.4 sq metres) on a site area of 0.71 acres (0.29 hectares) with very low 24% site density.

8.75 years unexpired lease.

Located amongst a host of other car dealership franchises cumulatively representing a 46% share of the 2020 UK new car sales market.

East Midlands location with excellent road and rail links.

Sited alongside the busy A45.

Other nearby uses include Riverside Retail park and various other commercial occupiers.

Investment opportunity within the robust car dealership sector.

Photo: July 2020

TO NORTHAMPTON, & M1 J15

TO KETTERING TO PETERBOROUGH & A1(M)

A45

A43NENE VALLEY WAY

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Source: Library Image

Description

The property houses a modern car dealership built around 2003 comprising showroom, sales

offices, workshop, and ancillary space on the ground floor. The first floor provides further

offices and a parts store. Additionally, there is a freestanding valet bay.

Tenancy

The property is let to Spirit Motor Holdings Limited on a 25 year full repairing and insuring

lease dated 16 November 2004, expiring 15 November 2029 (8.75 years unexpired). The lease

is subject to 5 yearly Market Reviews. The current passing rent is £143,160 per annum.

Tenure

Freehold.

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AccommodationThe property comprises the following approximate Gross Internal Areas:

SQ FT SQ M

Showroom 3,615 335.9

Showroom Offices 41 3.8

Store 150 14.0

Workshop 1,967 182.7

Workshop Ancillary 399 37.1

Canteen 194 18.0

Parts 397 36.9

Valet Bay 284 26.4

First Floor Offices 490 45.5

First Floor Parts Mezzanine 165 15.3

First Floor Archive 601 55.8

TOTAL GIA 8,303 771.4

Display Parking 22

Demo Parking 3

General Parking 31

TOTAL PARKING 56

The property sits on a site of 0.71 acres (0.29 hectares) and produces a site density of 24%.

0.71 ACRES (0.29 HA)

Photo: July 2020

Covenant

The property is let to Spirit Motor Holdings Ltd, a wholly owned subsidiary of Derbyshire Holdings

Limited. Spirt Motor Holdings Limited have been incorporated since 1991 and have a D&B rating of 1A2,

indicating a lower-than-average risk of business failure.

Spirit are a regional Hyundai dealer with two sites, Northampton and Corby, with strong links to the

local community including sponsoring Northampton Saints.

Hyundai had a 2.91% market share of the 2020 UK new car market placing them in the top third of

the new car sales hierarchy. The Hyundai range includes the class topping Kona SUV Electric Vehicle

supported by the smaller Ioniq EV, and the recently launched Nexo Hydrogen powered car.

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Ground Floor Plan

Mezzanine Plan

Photo: July 2020

Photo: July 2020

BILL BEXSON

07831 827 442 bbexson@automotive-property.com

ALICE BENNETT

07557 519 277 abennett@automotive-property.com

EDDIE HIGHNAM

07733 535 952 ehighnam@automotive-property.com

IMPORTANT NOTICE

Automotive Property Consultancy Ltd for themselves and for the Vendors of this property, whose agents they are, give notice that:

The particulars are intended to give a fair and substantially correct overall description for the guidance of the intending purchasers and do not constitute part of an offer or contract. Prospective purchasers and lessees ought to seek their own professional advice.

All descriptions, dimensions, areas, reference to condition and necessary permission for use and occupation and other details are in good faith, and are believed to be correct, but any purchaser should not rely upon them as statement of fact.

No person in the employment of Automotive Property Consultancy Ltd has authority to give any representation or warranty whatsoever in relation to this property on behalf of either Automotive Property Consultancy Ltd or the Vendor.

No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn.

February 2021

Further InformationViewing strictly by prior arrangement. For further information please

contact:

Proposal

Offers invited in excess of £2,000,000 (Two Million Pounds), equating to a Net

Initial Yield of 6.75% (Purchaser Cost of 6.8%).

Rateable Value

£97,000.

EPC

C–64.

VAT

The property is elected for VAT and VAT will be chargeable on the purchase

price if it is not possible to arrange this transaction by way of a transfer of

going concern.

0203 588 7200

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Riverside Park Fortune Close Northampton NN3 9HZ