Gallagher Retail Park, Ashford_Property for Sale

Unit 1-4 Gallagher Retail Park, Ashford, TN23 7DH, UK

Gallagher Retail Park, Ashford

Description

The property comprises an attractive parade of four retail warehouse units totalling 45,302 sq ft, set within tarmac and part bricked car park. Servicing is to the rear of the unit and is accessed via Gallagher Way, with separate access to customers. The customer car park is located to the front of the units, providing 191 spaces, equating to a ratio of 1:237 sq ft.

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Attributes

Asking price

¥2,229,915,000

Building area gross

4,209 sm

Units

Total Annual Rent

¥172,622,239.43

NIY

7.25%

Media

Investment highlights

• Modern and attractive retail park located in Ashford – a core London commuter town, that benefits from excellent transport connections, with direct access to London and the wider South-East

• Situated in a prominent trading position adjacent to the A2042, 1.5 miles south of Ashford Town Centre, 1.0 miles south of Ashford International Train Station and 0.5 miles west of Ashford Designer Outlet

• Prominent 45,302 sq ft retail park, comprising of 4 units fully let to the leading national covenants of Currys, Pets at Home, Halfords, and Bensons for Beds

• 10-minute drive time population of approximately 88,862 people, rising to 155,376 within 20-minutes

• Total passing rent of £853,855 per annum equating to an affordable average rent of £18.85 per sq ft

• 80% of the income is secured to ‘Very Low Risk’ covenants

• Significant potential for rental uplift in the short to medium term through lease regears and renewals

• Site area of 3.78 acres with a low site coverage of 27.5%

• Freehold

Our client is seeking offers in excess of £11,030,000 (Eleven Million and Thirty Thousand Pounds), subject to contract and exclusive of VAT for our client’s freehold interest. A purchase at this level reflects an attractive Net Initial Yield of 7.25% assuming standard purchaser’s costs of 6.80%.