Open A1 Retail Park Investment – Neasham Road

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* Purpose built Retail Park providing over 67,000 sq ft with over 300 car parking spaces providing a low average ratio of 1: 208 sq ft.
* Predominantly Open A1 (including food) retail planning consent.
* Fully let to Matalan, Poundworld, Farmfoods, Asda (long leasehold) and Ladbrokes producing a total rent of £746,700 per annum (£11.07 per sq ft).
* Attractive WAULT over 9 years.
* Freehold.
* Undoubted covenants (majority rated “minimum risk”).
* Asset management opportunities including lease re-structuring, downsizing and further development.
* Planning consent for two additional retail units, totalling 2,300 sq ft (split 50:50), with A1, A2, A3 and A5 consent.
* Offers are sought in excess £10,370,000 (Ten Million Three Hundred and Seventy Thousand Pounds) subject to contract and exclusive of VAT.
* A purchase at this level reflects an attractive net initial yield of 6.75%, assuming purchase costs at 6.70%.

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