OdeonBasingstoke Leisure Park
Basingstoke, RG22 6PG
Use Class E
39,197 sq ft
39,197 sq ft
Marketed by Avison Young
Solus leisure investment opportunity. Basingstoke is strategically located within Hampshire, with excellent communication links being off the M3 and situated 50 miles south west of central London. Basingstoke is one of the most affluent areas in the country, ranking 19th out of the top 200 PMA centres. The property is situated in the prime leisure pitch for the town, being part of Basingstoke Leisure Park, with occupiers including Hollywood Bowl, Buzz Bingo, Premier Inn, KFC, Costa, and iFly. The property comprises a purpose built 10-screen multiplex cinema, totalling 39,197 sq ft. Let to Odeon Cinemas Ltd on a 20 year lease, expiring 14 September 2026. The annual rent is £611,245, reflecting £15.59 per sq ft. Long leasehold at a peppercorn expiring September 2115. Odeon are one of the market leading cinema chains in the UK with a 21.1% market share. Asset management potential. We are instructed to seek offers in excess of £6,034,000 (Six Million and Thirty Four Thousand Pounds), subject to contract and exclusive of VAT. This equates to a net initial yield of 9.50% (assuming purchaser’s costs of 6.63%), and a price per sq ft of £154.
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.
All data ©2022 Completely Property Technology Limited