The Clink Retail Park, Bridgwater_Property for Sale

The Clink, Bridgwater, Somerset, TA6 4AE, UK

The Clink Retail Park, Bridgwater

Asset description

The Clink Retail Park comprises a modern purpose-built retail scheme totalling 17,363 sq ft GIA, constructed of steel portal frame with brick elevations under a pitched steel roof and has an eaves height of circa 5.5 metres. There is a walkway canopy to the entrance of both units. The retailers benefit from prominent and highly visible retailer signage. Internally, the units are fitted out to the individual tenants’ specification.

At the front of the units is a tarmacadam customer car park providing approximately 48 parking spaces, including 3 disabled bays, giving a parking ratio of 1:362 sq ft. The customer car park was resurfaced in 2017/18 and is accessed from the south west corner of the site, via East Quay. All staff parking is provided to the rear of the property. There is also a separate

pedestrian access via steps at the north west corner of the site.

The service yard is located to the rear of the units and is accessed via a roundabout junction on East Quay, Carvers Road and Rope Walk. The servicing access road is shared with the adjoining Asda service access.

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Attributes

Building area gross

1,613 sm

Occupancy

100%

WAULT

4.2 years

Asking price

CA$4,820,000

Media

Investment highlights

Retail and gym investment opportunity located in a strong and established retail area in Bridgwater
Serving as the dominant retail destination for the town’s extensive catchment area
Total site area of 1.07 acres (0.43 hectares)
The property extends to 17,363 sq ft (1,613 sq m) GIA reflecting a site coverage of 37%
Held on long Leasehold with 835 years unexpired
Fully let to PureGym and Halfords, both tenants with a Dun & Bradstreet rating of 5A2
WAULT of 4.2 years to expiry
Current passing rent of £247,670 per annum equating to circa £14.26 per sq ft overall

We are instructed to seek offers in excess of £2,750,000 (Two Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at the level reflects a Net Initial Yield of 8.46%, assuming standard purchaser's costs of 6.42%