£22.750.000
Confirmation
Modern and attractive food dominated retail park
Property Details
Broker
For sale
79,122 sq.ft.
7,351 m²Leasable area
287.53 £/sq.ft.
3,094 £/m²5.50 %
7
Freehold
Fees
Investment Overview
Modern and attractive food dominated retail park constructed in 2022 providing approximately 79,112 sq ft with 325 car parking spaces (1:243 sq ft). Prominent, accessible and visible location a short distance from the town centre immediately adjacent the A523 - “The Silk Road” and a busy Tesco. Fully let to Aldi, M&S, B&M, Farmfoods, Costa, KFC and BP Pulse. Attractive WAULT of 14.3 years to expiry and 12.9 years to break. 30% of the income benefits from RPI indexation and 100% of the income secured to “low risk” covenants. 57% of the total income from food retailers (Aldi, M&S and Farmfoods). Total passing rent of £1,336,760 per annum equating to an affordable average rent of £16.90 per sq ft.
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