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Meole Brace Retail Park

Meole Brace Retail Park
Shrewsbury, SY3 9NB

Use Class E

£39,750,000

Use Class

E

Price

£39,750,000

Marketed by Avison Young

Last updated 12/10/2021
Meole Brace Retail Park
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%

Purchase Price

£39,750,000

Last Updated

12/10/2021

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

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Avison Young

Avison Young

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