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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

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