Investment

B&M BARGAINS, 2-6 HIGH STREET,

ENNISKILLEN, COUNTY FERMANAGH, BT74 7EH

WELL SECURED RETAIL INVESTMENT

B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Investment Summary
STORE INTERIOR

Prime retail unit situated on High Street within Enniskillen town centre

The retail accommodation is set over two oors and extends to 9,872 Sq Ft (net internal
area) and benets from a secure yard to the rear

Let in its entirety to B&M Retail Limited (company registration number: 01357507) on
Full Repairing & Insuring terms until the 30th July 2023

B&M Retail Limited has an Experian Credit rating of 92/100 and is deemed to be very
low risk

Lease has been recently rebased and renewed in July 2013

The lease provides an unexpired term of 9 years

Let at a net rent of 135,000 per annum excluding VAT

Set on a rectangular site measuring approximately 0.19 acres (0.077 hectares)

The property is elected for VAT and it is envisaged the transaction will be treated as a
TOGC

The property has an EPC Rating of E106

Freehold title

We are instructed to seek offers over 1,595,000 reecting an attractive NIY of 8.00%
after purchasers costs of 5.80%
B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Location

Enniskillen is the principal town in County Fermanagh, situated 12 miles east of the border with Donegal and 80 miles west of Belfast. Enniskillen provides a wide range of administrative and commercial
functions, services and facilities and has a strong high street retail offer complimented by Erneside Shopping Centre.

The town had a population of 13,587 people at the 2011 Census and also serves a large rural population from the surrounding towns and countryside.

Enniskillen is a popular destination for tourists as it is situated on the shores of Upper Lough Erne and close to the border with Co. Donegal in the Irish Republic and benefits from strong cross border trade.
Lough Erne Golf Resort is located just outside the town.
B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH
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For indicative purposes only. This plan is published for convenience of identification only and
although believed to be correct, its accuracy is not guaranteed and does not form any part of a
contract. Not to scale.
B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Description
FRONT OF SHOP

The property comprises a substantial two storey purpose built retail unit arranged to provide retail at ground
floor and ancillary accommodation at first floor level.

The property is of block construction, flat roof and aluminium framed shop front with roller shutters. Internally
the unit has been fitted out to B&M Bargains corporate specification. The unit benefits from a goods lift at the
rear as well as a service access and secure yard accessed from Paget Lane.

The unit provides frontage of 21.5 m (70.5 ft) onto High Street and return frontage of 10.75 m (35.3 ft) onto
Eden Street.

Accommodation

The property has been measured in accordance with the RICS Code of Measuring Practice
(6th Edition) and provides the following areas:

Floor NIA (Sq M) NIA (Sq Ft)

Total Ground NIA 535.85 5,768

First Floor Stores / Ancillary 381.26 4,104

TOTAL NIA 917.11 9,872

B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Covenant Information
REAR ELEVATION

B&M Retail Limited trading as B&M Bargains is a multinational discount retailer selling; household textiles,
home wares, furniture, household goods, wall decor, toys, camping, outdoor living and gardening goods, toys,
seasonal goods, DIY products, food, drink, confectionery and toiletries. They currently trade from over 370
stores with plans to grow to 600 stores throughout the United Kingdom.

B&M Retail Limited (company registration number: 01357507) has an Experian Credit rating of 92/100 and is
deemed to be very low risk with a credit limit of 10,000,000. The full Experian Credit Report is available on
request.

The last three years of reported accounts may be summarised as follows:

B&M Retail Limited 31 Dec 2010 31 Dec 2011 31 Dec 2012

(No. 01357507)

Total Turnover 538,321,000 712,572,000 935,229,000

Net Worth 67,540,000 105,539,000 171,867,000

Pre-tax Profits 35,183,000 51,702,000 88,323,000

In May 2014 B&M European Value Retail S.A listed on the London Stock Exchange. The listing is designed
to support B&Ms ambitious growth plans for both the UK and continental Europe. The listing follows B&Ms
acquisition of a majority stake in Jawoll, a discount retailer with 50 stores throughout Germany.

For further information on B&M Bargains visit: www.bmstores.co.uk

B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Retail Market Investment Market

There have been clear signs of positivity emerging in the retail sector over the first half of
2014 following a recovery in both the Global and UK economies. This is reflected not only
in a strong increase in consumer confidence but also a marked increase in the number
of letting enquiries from both local and multinational retailers. Many of these multinational
retailers are new entrants to Northern Ireland market.
During the first six months of 2014 over 143.7 million has been invested directly in the commercial
property market in Northern Ireland. This represents a very strong half year performance which is
on par with the strong volume of transactional activity achieved in the second half of 2013 when 18
transactions totaling more than 150 million were transacted.

Enniskillen would be regarded as a strong county town with a large rural catchment which
includes counties Cavan, Leitrim and Donegal in the Republic of Ireland. There is limited
availability of quality retail space in Enniskillen, the town has very low vacancy rates in
comparison to other provincial towns throughout Northern Ireland.
There has been a resurgence in demand for Northern Ireland investment assets over the last 12 months
and there is clear evidence of a greater depth of buyers in the market over recent months. The bulk of
transactions during H1 2014 comprised retail properties.
Prime yields in Northern Ireland have contracted over the last few months due to the weight of money
chasing property in the region and are expected to trend stronger over the course of the coming
months.

We are aware of the following high street retail investments sold in Northern Ireland:

Address Tenants Sq Ft Date Sold Purchaser Capital Value NIY WAULT*

24-32 Ferryquay Street, Derry Superdrug & Poundland 29,259 June 2014 ROI Investor 2,300,000 11.50% To expiry: 4.61 yrs To break: N/A

7/9 Bishop Street, Derry Poundstretcher 8,706 May 2014 GB Investor 600,000 8.66%. To expiry: 9.25 yrs To break: 6.25 yrs

Lyons House, 79/83 Main Street, Various 12,277 Dec 2013 Private Local Investor 1,000,000 11.93% To expiry: 2.65 yrs To break: N/A
Bangor

18-20 Scotch Street, Dungannon AIB 6,061 Nov 2013 Private Local Investor 795,000 7.01% To expiry: 16.5 yrs To break: 11.5 yrs

48-50 Ann Street, Belfast Caff Nero 3,249 Oct 2013 Private Local Investor 1,085,000 6.97% To expiry: 9.25 yrs To break: N/A

33/39 Newry Street, Banbridge Poundland 12,815 Jan 2013 Private Local Investor 925,000 8.94% To expiry: 7.00 yrs To break: N/A

*WAULT: Weighted Average Unexpired Lease Term.

(Source: CBRE Research)
B&M BARGAINS, 2-6 HIGH STREET, ENNISKILLEN
County Fermanagh, BT74 7EH

Title VAT

Freehold. We understand the property has been elected for VAT and it is anticipated that the sale will
be structured as a Transfer of a Going Concern (TOGC).

EPC
Proposal
The property has been given an Energy Performance Certificate Rating of E106.
Full EPC Report is available on request.
We are instructed to seek offers over 1,595,000 (exclusive of VAT) for our clients interest.
A purchase at this level would reflect an attractive net initial yield of 8.00%, after allowing
for normal purchasers costs at 5.8%.

Contacts

Gavin Elliott CBRE

E: gavin.elliott@cbre.com Imperial House
T: 028 90436750 Donegall Square East
M: 0779 6262382 Belfast BT1 5HD
T: 028 90438555
Tim Reid F: 028 90439444
E: tim.reid@cbre.com www.cbre.com
T: 028 90436752
M: 07803 264410

DISCLAIMER: CBRE

These particulars are issued by CBRE on the understanding that any negotiations relating to the property are conducted through them. Whilst every care is taken in
preparing them, CBRE for themselves and for the vendor/lessor whose agents they are, give notice that:- (i) the particulars are set out as a general outline for guiding
potential purchasers/tenants and do not constitute any part of an offer or contract, (ii) any representation including descriptions, dimensions, references to condition,
permissions or licenses for uses or occupation, access or any other details are given in good faith and are believed to be correct, but any intending purchaser or tenant
should not rely on them as statements or representations of fact but must satisfy themselves (at their own expense) as to their correctness, (iii) neither CBRE, nor any of their
employees have any authority to make any or give any representation or warranty in relation to the property. Note: All plans and photographs are for identification purposes
only. Subject to contract. August 2014.