The Victoria Centre, Consett_Property for Sale

Victoria Road, Consett, DH8 5BW, UK

The Victoria Centre, Consett

Asset description

Constructed in 1995, the Victoria Centre comprises 5 open plan, self-contained modern retail warehouse units comprising a total of 35,614 sq ft). The units are arranged over ground and first floor and vary in size from 1,181 sq ft up to 13,955 sq ft. The Centre has 95 car parking spaces at the front of the property and is also accessible via public transport by Consett bus interchange situated on the northern boundary of the site.

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Attributes

Building area net

3,311 sm

Occupancy

100%

Year built

1995

NOI

¥43,404,000

Media

Investment highlights

» Freehold

» Consett has a population of 29,885 and is located 14 miles South-West of Newcastle-Upon-Tyne.

» The site comprises a modern retail parade extending to 35,614 sq ft arranged across 5 units on a large site of circa. 2 acres.

» The scheme is let to 5 tenants on FRI leases with 61% of income secured against the strong covenants of Argos, Betfred & Iceland.

» A prominent pitch located adjacent to the town’s bus interchange and less than 50 metres from Consett’s main high street which hosts popular weekly markets, encouraging trade.

» WAULT of 3.2 years to expiry and 2.9 years to break.

» Passing rent of £224,000 p.a.