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Southampton Retail Park

Southampton Road
Southampton, SO16 0YW

Use Class E

24,952 sq ft

Use Class

E

Size

24,952 sq ft

Marketed by Avison Young

Last updated 01/07/2022
Southampton Retail Park
Southampton, the largest city on the south coast, is a core commercial centre and home to over 7,400 businesses including Carnival UK, B&Q and Garmin.

Southampton Retail Park is located in a prominent and visible location, just off Junction 1 of the M271.

High density catchment population, with 571,018 people living within a 20 minute drive time.

The park is well situated adjoining a dominant 82,000 sq ft B&Q Warehouse.  This overall development sits at the entrance to the Nursling Logistics Estate; a prime logistics location for the area with excellent motorway links, notably housing a large Tesco distribution unit.

The scheme totals 24,952 sq ft and is let to Snap Fitness, Tapi Carpets and Carpetright.

The total current rent is £324,598 per annum, with a low average rent of £13.01 per sq ft and the benefit of CPI uplifts at review to 1-3% per annum compounded on 28% of the income.

Long leasehold; 220 years unexpired.

Regear and reletting opportunities, along with long term repurpose to industrial use.

We are seeking offers in excess of £4,200,000 (Four Million, Two Hundred Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 7.25% based on purchaser’s costs of 6.55%.  The yield increases to 7.57% in April 2027 based on the maximum CPI uplift of 3% per annum compounded. The capital value is low at just £168 per sq ft.

Last Updated

01/07/2022

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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