Asda Washington
UK - Washington, Tyne & Wear
€24,410,000 | 11,019 m²
Asset Description
The unit comprises 71,804 sq ft of accommodation arranged across ground and four upper floors.
Tenant trades over ground and first floors with a further two floors of storage. There is a strong food offering across the store with both a supermarket
element as well as an M&S café.
...
Attributes
Asking Price
€8,568,000
Building area Net
6,671 m²
Occupancy
100.00%
Year built
1970
Media
Investment Highlights
- New 999-year virtual freehold interest at a peppercorn rent from June 2022
- Single-let to Marks and Spencer Plc with 71.8 years unexpired with no breaks
- Net passing rent of £549,000 per annum reflecting a sustainable £7.65 per sq ft
- Upwards only rent review every 14 years to open market value with next review on 1st April 2029
- Anchor tenant within Cooper Square Shopping Centre benefiting from excellent footfall
- Marks and Spencer Plc posted buoyant end of year results for the 12 months to April 2023 with positive trading feedback from the tenant on site
- Burton-on-Trent is ranked in the top 15% of all PROMIS centres for both population growth and retail expenditure growth
- Strong development activity in Burton-on-Trent facilitating population growth and increased retail expenditure
Contact brokers
Burton - Marks & Spencer (0 Properties)
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Last updated
7 Sep 2023
