Southport, PM+

Unit 12 Central 12 Retail Park, Southport, Merseyside, PR9 0TQ, UK

Executive Summary

Other

Gallery

Asset description

• 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%.

Attributes

Building area gross

162,143 sf

Year built

2000

Property Reference Number

41219232

NOI

$3,026,000

Investment highlights

• 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.