Jordan Keating
jordank@jacksoncriss.co.uk
020 7637 7100
St Mary's Place Shopping Centre & Springfield Retail Park
-
Market Harborough is an affluent and historic market town situated close to the border between Leicestershire and Northamptonshire.
-
Affluent population with a particularly high representation of people classified in the highest AB/C1 social grade at 61.3%, compared to the UK average of 52.7%.
-
Opportunity to acquire a substantial town centre holding comprising c.107,153 sq ft across St Mary’s Place & Springfield Retail Park comprising open plan retail accommodation and retail warehousing.
-
Adjacent to a 45,000 sq ft Sainsbury’s Supermarket (owner occupied) with 600 space surface car park.
-
Total site area of 2.28 hectares (5.63 acres).
-
Total current gross income of £1,726,635 pa and a net operating income of £1,718,416 pa after the deduction of landlord shortfalls amounting to £8,219.
-
61% of the gross income is attributed from St Mary’s Place and 39% from Springfield Retail Park.
-
95% of the gross income is secured against national multiple retailers with the remaining income secured against local independents.
-
Robust tenant demand and strong tenant retention, with The Range having recently committed to a 15 year lease in Springfield Retail Park and numerous lease renewals in St Mary’s Place.
-
Springfield Retail Park benefits from an extremely attractive WAULT of 12 years to expiry.
-
Combined WAULT for St Mary’s Place and Springfield Retail Park of 7.4 years to expiry and 6 years to break.
Tenure:
Freehold
Yield:
8.58 %
Price:
£18,750,000
Contact:
For further information:-
Jonathan Milburn – jonm@jacksoncriss.co.uk
Rhodri Jones – rjones@jacksoncriss.co.uk