Bridlington, still some availability

1. THE HELMSLEY GROUP
Syndicated Commercial Property For Sale
Initial Yield 5.95%
Rising to 6.69% October 2012 and 7.75% in October 2017
Pets at Home Limited providing secure income from an
excellent covenant with fixed rental increases.
74-76 Bessingby Road, Bridlington,YO16 4SA

2. 74-76 Bessingby Road, Bridlington,YO16 4SA
To Scarborough
East Yorkshire A165 Flamborough
Bridlington
Carnaby
ugh Rd
Burton
boro
Agnes
on Road
Ma r t
Fort
Scar
To York A164 A165
yfoot
B1255
A165
Garton- Nafferton B1254
on-the-Wolds
Flamb
A1038
ill
B1253
Bessingby H
oro
Bridlington
Driffield
St. John
ugh Road
& District
Hospital
A165
A164
’s S
re
t
et
To Hull A165
Bess
ingb
A165 yR
oad A165
te
Kingsga
LOCATION
Bridlington is an important East Yorkshire coastal tourist resort
Bridlington
and also retains also a small fishing fleet. It has a resident population
of approximately 33,000 and serves a district population of circa
300,000 (Census 2001). It is approximately 25 miles north of Hull, THE LEASE
42 miles east of York and 10 miles east of Driffield.
The entire property is let to Pets at Home Limited for a term
The town benefits from excellent road communications to the local of 15 years from 11th October 2007 with no break, either
area via the A165 to Hull and Scarborough and the A614 to Driffield for the tenant or the landlord.
and leading to the M62. The town has rail connections to the national
network via both Hull and York. The current passing rent is £110,600 per annum (£13 per sq ft).
The lease incorporates fixed uplifts of 3% per annum compound at
The property is situated approximately half a mile to the west of the fifth and tenth anniversaries of the lease and this produces the
Bridlington town centre on the A165 at Bessingby Road which is the following rental profile:
main arterial route into the town from the west. It is prominently
located on a roundabout immediately opposite Morrisons October 2007 £110,600 per annum (£13 per sq ft)
supermarket and petrol filling station. This is an established out of October 2012 £128,215 per annum (£15.07 per sq ft)
town location adjacent to Bessingham Way Retail Park which includes October 2017 £148,637 per annum (£17.47 per sq ft)
occupiers such as Currys, McDonalds and Aldi. Both Tesco and B&Q The property is let on full repairing and insuring terms.
warehouse also within three quarters of a mile of the site.
Both Bridlington School Sports College and the hospital are also
situated on the Bessingby Road close to this property.
THE PROPERTY
The property is of early 1990’s steel frame construction incorporating
full height glazing to the front elevation and profile insulated steel
cladding to other elevations and the roof. The property was
comprehensively refurbished approximately two years ago.
Externally there are approximately 25 car parking spaces together
with a secure service yard and internally the property is fitted to a
high standard including laminate floors, recessed Cat II lighting and
comfort cooling.
The accommodation extends to 8,507 sq ft.

3. TENANT AND COVENANT
STRENGTH
The whole of the property is let to Pets at Home Limited who are
the largest pets supply retailing chain in the UK with over 270 stores
throughout the country.
Pets at Home Limited most recently published trading figures are
summarised below:
2008 2009 2010
Turnover £350,800,000 £399,899,000 £462,646,000
SYNDICATE PURCHASE
Profit before tax £53,564,000 £58,189,000 £68,853,000 The property is being acquired freehold and is subject to and with the
benefit of the existing lease to Pets at Home Limited. The property
will not be subject to any bank borrowings and has been purchased
wholly by way of cash.
RATIONALE FOR
PURCHASE MANAGEMENT CHARGES
This prominently located property is let to an excellent tenant whose The Trust Deeds will include a resolution for Colenso Property
turnover and profits have increased substantially over the past five Services LLP to act on behalf of the syndicate as managing agent.
years and have continued to grow through difficult economic times. The property management fees for the period up to the first review
As always we aim to provide syndicated opportunities where the 11th October 2012 have been included within the syndication price
tenant is secure and the lease offers long term income opportunities and will be paid by Helmsley Securities Limited in accordance with
with no breaks. As the lease includes fixed increases of 3% per annum the deed resolution. Other yields quoted are net of future
compound on a five yearly basis the income yield will rise on the management costs.
remaining 111⁄2 years.
At 8,507 sq ft and with 25 car parking spaces the accommodation
would be suitable for a variety of uses and is ideally located for the
SELLING A STAKE IN A
existing tenant's business. SYNDICATE PROPERTY
A common question regarding syndication is “Can I sell my stake if
RENT REVIEW AND RENTAL I need to for any reason?”
GROWTH PROSPECTS The answer is that each Beneficial Ownership or Stake is generally
readily transferable, at any time; to anybody you wish and does not
The current passing rent is £110,600 per annum and will rise in require the sale of the property as a whole.
October 2012 and October 2017 in accordance with the fixed
We are often asked to seek purchasers for Stakes and it is often the
increase contained within the lease which reflect 3% per annum
case that other members of the same syndicate take these up. A deed
compound.
of transfer is prepared at a fixed cost of £500 plus VAT, (which includes
As such the yield will rise from 5.95% to 6.69% in October 2010 solicitors and administration charges).There is generally no stamp duty
and 7.75% in October 2017, net of management costs. to be paid if below £150,000 and this can normally be prepared quite
speedily. Stakes will, however, vary in value at any given time depending
on issues such as prevailing interest rate levels, the return that is being
PURCHASE PRICE achieved, tenants covenant, management issues and length of lease
remaining, amongst others.The asking price is entirely under your
The total syndicated price is £1,859,000 (One Million Eight Hundred
control but we will happily discuss this with you in more detail.
and Fifty Nine Thousand Pounds) and the minimum purchase for
individual stakes is £25,000 (Twenty Five Thousand Pounds). (For further details see Syndicated Property terms and conditions).

4. THE HELMSLEY GROUP
Established in 1980,The Helmsley Group is a privately owned property development and investment company with a track record of success.
We provide our client base of high net worth individuals, owner managers and pension funds with a range of opportunities that are always
secured against land or property, and have the potential to provide excellent returns.
The syndication of commercial property is one of our key services, which enables you to become a beneficial owner of part of one or more
commercial properties and subsequently receive a share of the rental income plus any capital growth.
Our clients’ syndicated property portfolio has amounted to approximately £100 million all acquired and held with cash funds. Tenants range from
single occupiers, ‘blue chip’ tenants and government agencies on long-term leases, to properties with mixed tenants on shorter leases.
The company is majority owned by John Reeves FRICS, Chairman of The Helmsley Group, who takes an active role in the overall running of all
sectors of the business. John specialises in property development having completed a number of high profile new build developments as well as
historic re-developments in Yorkshire.
Ian McAndrew is the director responsible for the syndicated property portfolio within the Helmsley Group. Ian has extensive knowledge of all
aspects of commercial property including agency, development, investment and asset management. With over 40 years experience Ian is well
placed to advise you on all aspects of syndication and your property investments.
SYNDICATED PROPERTY
The broad outline of the syndicated arrangements as provided by Helmsley is as follows:
1. Helmsley Securities Limited and two Practising Solicitors (as Trustees) will hold the freehold title of the property as Bare Trustees.
2. On completion of their purchase syndicate members become beneficial owners, as tenants in common, and can fully identify their
ownership, by way of a Trust Deed.
3. The Trust Deed provides for the syndicate members to be in control of the management of the property and for the rental
income to be remitted to the syndicate members in accordance with their level of participation.
4. Under the Trust Deed during the initial period (until May 2013) to ensure a medium term commitment and, at the same time, give
some flexibility, a syndicate member may not trigger the disposal of the entire property but may sell his/her syndicate share.
However, there is provision that, in the event of:
• the death of a syndicate member;
• the liquidation of a syndicate member, should that be a body corporate; or
• in the case of a death of a beneficiary of a pension fund
then that syndicate member or his personal representative can demand of the Trustees that the whole property is marketed in
the best possible way. The Trustees will then have two years in which to sell the property.
5. After the initial period, any syndicate member has the right to demand that the Trustees dispose of the entire property on the
open market. The Trustees will then have twelve months in which to sell the property.
6. All documentation is made available to the intending purchaser and their solicitor.
The opportunities that are made available from time to time are normally concentrated on small to medium size retail premises,
offices and factory units. Full repairing and insuring institutional-type leases are generally a pre-requisite. The location and type of
property is carefully vetted and only properties with either “blue chip” or sound private tenants are normally offered.
Prudent property purchases should not be of a speculative nature and participants should appreciate that the real value of property
and its underlying security lies not only in its quality and position but, equally, in the standing of the tenant and the terms of the lease
to ensure that it provides a dependable source of revenue, with potential for capital growth.
These arrangements, therefore, as far as practically possible, give:
- direct ownership in property; in many cases, with “blue chip” public company covenants;
- complete control of the disposal of the property from the expiry of the initial period;
- the opportunity to fully investigate the purchase before syndication.
STRICTLY PRIVATE RISKS
& CONFIDENTIAL
Property values may fall as well as rise and purchasers should be aware that
The Directors of Helmsley Acceptances Limited property values are a matter of Valuer’s opinion: therefore, before any
have taken all reasonable care to ensure that the purchase is made, Helmsley Acceptances Limited would strongly recommend
information given herein is true and accurate. that investors consult with their financial and other professional advisers. In
the case of leased properties, tenants may default, thus leaving a void in rental
No liability or responsibility is accepted for
income until such default is remedied. If a tenant fails and a property becomes
errors and omissions.
Designed and produced by The Partners Group,York. Tel: 01904 610077
vacant there may be empty rates liabilities that may fall upon the owners.
Solicitor acting on behalf of the syndicate
THE HELMSLEY GROUP
Helmsley Acceptances Ltd, Colenso House, Omega 1,
Monks Cross Drive, Monks Cross,York YO32 9GZ
Tel: 01904 682 800 Fax: 01904 682 808
Email: mail@helmsley.co.uk
www.helmsley.co.uk
Registered in England No. 1990062