Street Retail Park, Street_Property for Sale
Street Retail Park, Street_Property for Sale
Street Retail Park, Street, Somerset, BA16 0HW, UK

Street Retail Park, Street

Asset Description

Street Retail Park was developed in 2017, comprising 36,261 sq ft GIA across two portal framed retail warehouses to provide three retail units.


Each unit benefits from a pitched steel-clad roof with ten percent roof lighting and profile clad walls, with brickwork to one metre externally and blockwork internally.


The retail development has tarmacadam covered customer parking for circa 165 spaces and hardstanding covered good yards.

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Attributes

Building area gross
3,402 m²
Occupancy
100%
WAULT
6.6 years
Asking price
₹642,412,000

Media

Investment Highlights

  • Multi let retail warehouse investment opportunity, developed in 2017, let to three strong covenants 
  • Located on the outskirts of Street in Somerset, adjacent to the town of Glastonbury
  • Situated less than one mile from the well-established Clarks Village outlet shopping centre
  • Accessed via the A39 (Westway), the major road running through Street and located adjacent to Sainsbury's superstore and Lidl  
  • Two retail warehouses split into three separate units totalling 36,261 sq ft (GIA basis)
  • Total site area of 3.91 acres (1.58 hectares), including circa 165 car parking spaces
  • Let to TJ Morris Limited t/a Home Bargains, Pets at Home Limited and Iceland Food Warehouse
  • All three tenants reflecting a strong Dun& Bradstreet covenant strength of 5A2
  • Total net income of £478,000 per annum, reflecting £13.73 per sq ft overall
  • Average weighted unexpired lease term of 6.6 years to expiry 
  • Freehold tenure


Offers are sought in excess of £6,000,000 (Six Million Pounds), subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 7.47% and a low capital value of £165.47 psf, assuming purchaser's costs of 6.63%

Street Retail Park, Street 4_Property for Sale
Street Retail Park, Street 4_Property for Sale

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Street Retail Park, Street (0 Properties)

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Last updated
9 Dec 2024