St Stephens Street, Norwich
UK - Norwich
NZ$20,211,000 | 14,821 m²
• Central 12 Retail Park is a modern, purpose-built retail park
which comprises a terrace of 10 retail warehouse units, which is bookended from the west by a 66,166 sq ft ASDA Superstore and a 22,871 sq ft The Range to the Eastern end.
• The car park provides a total of approximately 636
spaces, which provides a very attractive ratio of 1:255 sq ft. The site has an area of approximately 13.32 acres, providing a low site coverage of 28%.
• Southport is a large coastal town in the north west of England. It is the dominant shopping, leisure and tourist destination within the county of Merseyside, attracting 9 million visitors per annum.
• Central 12 Retail Park is the dominant grocery anchored park in Southport, occupying a strategic position within the centre of the town.
• Large catchment population of 125,045 people within 20 minutes’ drive time from the property
• Key tenants include ASDA Superstore, B&M, The Range, Boots and Next.
• 76% of the income is derived from ASDA, The Range and B&M. An AFL has been exchanged with B&M for a new 5-year lease which will see the merger of Units 1 & 2.
• Total passing rent of £2,457,638 per annum equating to an average rent of £15.16 per sq ft.
• The park has a number of viable asset management initiatives including leasing vacant units, replacing Tenancies at Will with incoming producing occupiers and
the potential construction of an A3 pod on the car park.