Towngate Retail Park Newport, PO30 5HF
The Isle of Wight is a renowned tourist destination welcoming over 2.6 million visitors a year contributing in excess of £275m to the local economy. The subject property is situated in Newport, the administrative centre of the Isle of Wight. Towngate Retail Park is highly prominent and sits within the main retail warehouse cluster on the island. It is also a short walk away from Newport town centre. Let to established national retailers: Halfords, Snap Fitness and Benson for Beds. The property totals 20,093 sq ft producing a net rental income of £335,452 pa, reflecting a low average rent of £11.65 psf. WAULT of c. 6.4 years to expiry and 4.6 years to break options. Freehold.