Fleet is an affluent Hampshire town.
Within a 10 minute drivetime, the proportion of social grade AB is 51% above the UK average.
New purpose built development lying on the south side of the conurbation, fronting the B3013.
Units of 18,568 sq ft and 14,000 sq ft pre-let to Aldi and Home Bargains respectively.
Development scheduled to start on site in January 2020 and complete by December 2020.
Aldi are subject to a 20 year lease. The initial rent equates to £19.12 per sq ft and there are 5 yearly rent reviews, linked to RPI, subject to a minimum of 1% per annum and maximum of 3% per annum, both compounded.
Home Bargains have a clear 15 year lease at an initial rent of £16.00 per sq ft, with 5 yearly upward only open market rent reviews, capped at 2% per annum compounded.
Funding offers are sought to reflect a final running yield to the buyer of 5% (with purchaser’s costs) to give a net total capital commitment of £11.375 million.