The Plaza, Elms Road, Wokingham_Property for Sale
The Plaza, Elms Road, Wokingham_Property for Sale
The Plaza, Elms Road, Wokingham, RG20 2LD, UK

The Plaza, Elms Road, Wokingham

Asset Description

Prime town centre retail and leisure investment opportunity.


  • The property is fully let to a modern Nuffield Health fitness centre with a pool, The Gig House, Giggling Squid and Energie Fitness.
  • The property comprises a 170+ space multi-storey car park operated under a management agreement with NCP.
  • The Seller has recently completed car park upgrade works spending over £1.7m.
  • The property also includes the uppers which comprise office units let on a long lease to Wokingham Borough Council at a peppercorn rent.
  • There are also 6 residential flats which are included in the ownership, these are sold off on long-leasehold.
  • The service charge budget for the property is £262,123.38 per annum equating to £4.33 psf.
...

Attributes

Asking price
€8,401,000
Occupancy
100%
WAULT
11.45 years
Cap rate
10%
Tenure
Leasehold

Media

Investment Highlights

  • Wokingham is a market town and civil parish in Berkshire, 39 miles west of London, 7 miles south east of Reading, 8 miles north of Camberley and 4 miles west of Bracknell.
  • Wokingham Plaza is a fully let retail quarter in the affluent county of Berkshire.
  • Comprising 60,000 sq ft + of retail and leisure including use class D and E occupiers & a 170+ space multi-storey car park.
  • The key tenant is Nuffield Health accounting for c. 73% of the total income.
  • The property is held long leasehold from Wokingham Borough Council until 2152.
  • 11.45 years WAULT to expiry.
  • Annual gross rental income of £825,062 pa.
  • Net operating income of £757,925 pa.
The Plaza, Elms Road, Wokingham 4_Property for Sale
The Plaza, Elms Road, Wokingham 4_Property for Sale

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The Plaza, Elms Road, Wokingham (0 Properties)

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Last updated
17 Jun 2024