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Meole Brace Retail Park

Meole Brace Retail Park, Shrewsbury, SY3 9NB 155,966 sq ft

Description

Shrewsbury is the administrative centre and county town of Shropshire, 56 miles north west of Birmingham Meole Brace Retail Park is the dominant scheme in Shrewsbury, extending to 155,966 sq ft A large and affluent catchment with over 108,000 people living within 15 minutes’ drive, rising to over 188,000 people within 20 minutes Up to 120,000 car visits a month Shares vehicular access with a 71,000 sq ft Sainsbury’s foodstore Top quality retailer line up anchored by M&S Foodhall to 2035, Next to 2029 and Currys PC World to 2029 Other retailers include Boots, TK Maxx / Homesense, Pets at Home, Halfords, Sports Direct, Superdrug, Argos, Costa, Card Factory, Pizza Hut and Subway Attractive WAULT of 6.3 years to lease expiry Produces a rental income of £3,502,112 per annum, including a rental guarantee 92% of the income is secured against ‘5A 1 – Low Risk’ or ‘5A 2 – Lower than Average Risk’ rated covenants Class E planning consent. Formerly majority open A1 non food (with food consent on Unit 9), and A3 Asset management opportunities Freehold site of 22.1 acres (8.9 hectares) We are instructed to seek offers in excess of £39,750,000 (Thirty Nine Million, Seven Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 8.25%, assuming purchaser’s costs of 6.77%

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