PROPERTIES

Waterglade Retail Park, Clacton-on-Sea C015 1HX

Price£11,900,000

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Waterglade Retail Park, Clacton-on-Sea C015 1HX

  • Price£11,900,000
  • Income£1,143,337
  • Yield9%
  • SectorOut of Town Retail
  • StatusAvailable
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Prime Dominant South East Retail Park With Fixed Increases, Anchored by a Major Supermarket

Summary

  • Waterglade Retail Park is a prominent, multi-let retail park comprising a terrace of five units.
  • Situated adjacent to a 43,600 sq ft Morrison’s Supermarket which forms part of the scheme with a total of 534 parking spaces.
  • Approximately 73,664 sq ft (6,843.55 sq m) benefiting from open A1 use to include food.
  • Let to national retailers to include: Iceland, Halfords, Next and B&M with a low average passing rent of £15.50 psf.
  • AWULT to expiry of 5.89 years.
  • Current income of £1,143,337 pa rising to £1,215,138 pa following fixed increases in 2022 and 2025.
  • Offers in excess of £11,900,000 (ELEVEN MILLION NINE HUNDRED THOUSAND POUNDS) subject to contract and exclusive of VAT.
  • Net initial yield of 9% after allowance for purchaser’s costs of 6.71% and a low capital value of £161 per sq ft.