Town Centre Mixed-Use Investment

The property comprises of an imposing mixed use period property of 40,802 sq ft NIA arranged over basement, ground and 3 upper floors, together with 40 car parking spaces. Strong environmental credentials with an EPC rating of B on the upper floors and majority B/C ratings for the ground floor units. The ground floor provides retail accommodation principally occupied by Sainsbury’s. The convenience store directly faces the station and Sainsbury’s highlighted the strong performance of the store when re-gearing in 2018. The remainder of the ground floor and the upper floors are principally occupied by the BBC who use the space for TV and radio broadcast. The property is 79% let by floor area to 3 tenants (The BBC, Sainsbury’s and BR Flooring Ltd), producing a headline passing rent of £558,450 per annum. The BBC’s office rent is £21.05 per sq ft and the retail rents range from £20.11 per sq ft to £25.77 per sq ft - levels that offer excellent potential for growth. Excellent tenant covenant strengths with all either ‘Very Low Risk’ rated by Experian or Government bodies (BBC). Overall WAULT of 6.2 years to expiries and 4.6 years to breaks.