
Avison Young
Visit websiteEllie Kirkby
Mobile: 07764 241 898Direct: 020 7317 3790Paul Wilkinson
Mobile: 07770 585 313Direct: 020 7317 3799
Southampton Retail Park
Southampton RoadSouthampton, SO16 0YW
Use Class E
24,952 sq ft
Use Class
E
Size
24,952 sq ft
Marketed by Avison Young

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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