Foodstore Anchored Retail Park Investment

Norwich is the county town of Norfolk and benefits from an extensive and exclusive retail catchment of 613,000 people (PROMIS). Excellent line-up of anchor tenants. Strong occupational demand as evidenced by recent lettings. 93% of the income secured against ‘low’ and ‘very low’ risk covenants, as rated by Experian. Total ground floor area of 161,938 sq ft with approximately 576 surface car parking spaces. Total site area of 11.54 acres, showing site coverage of 32%. Fully let to 8 tenants with a combined total net income of £2,313,473 per annum, including vendor top-ups. Affordable average rent of £14.19 per sq ft, with the potential for future rental growth. 25% of the income benefits from fixed or index linked rental performance. Very attractive WAULT of 10.8 years to expiry and 10.1 years to breaks. Immediate asset management initiatives to enhance income and tenant mix.