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Marketed by
Foodstore Regent Circus, Swindon, SN1 3DQ
Use Class
E(a)
Size
49,739 sq ft
Rent pa
£988,000
Market Sector
High Street Scheme
Description
Modern purpose built store of 49,739 sq ft gross internal area with a dedicated ground floor car park of 238 spaces as part of the demise.
Forms part of the 98,818 sq ft Regent Circus retail and leisure destination.
Other tenants include 6 screen Cineworld cinema, Ask Italian, Nando’s and Prezzo.
Separate leisure scheme multi-storey car park provides an additional 212 spaces.
Suitable for retail and leisure uses, subject to planning and landlord’s consent.
Store and car park leases offered for assignment.
Offers will also be considered for subleases of the whole or parts.
Location
Regent Circus is a modern retail and leisure development that opened in 2014. It is located on the southern side of Swindon town centre with frontages to both Regent Circus and Crombey Street. Regent Circus provides the only cinema in central Swindon with a 6 screen Cineworld digital multiplex.
The remainder of the space is occupied by the subject store and a range of restaurant units occupied by tenants including Ask Italian, Nando’s, Coal Grill & Bar and Prezzo.
Key Information
Viewing
For access to the dataroom or to arrange to view the property, please contact Alex Moorhouse of Colliers International.
Accommodation
49,739 Sq.Ft
Financial
Lease Type
Existing Lease
Lease Term
25 years from 13th October 2014. Tenant Break Option – Effective 13th October 2034 on 6 months notice.
Rent
Rent Reviews Dates – 13th October 2019 and 5 yearly thereafter.
Rates
Based on information obtained from the Valuation Office, we understand that the current food store and dedicated car park have a combined Rateable Value in the 2017 List of £1,030,000. Interested parties should make their own enquiries to confirm the current Rateable Value and any other associated rating issues.
Costs
Each party is to bear their own legal costs incurred in any transaction.
Incentive
The leases on the store and associated dedicated car park are offered for assignment and offers are invited. Offers will also be considered for a sub-lease of the whole of the store and the associated dedicated car park for a term up to the tenants break date on 13th October 2034. Alternatively, Morrisons will consider sub-letting the store premises in parts and interested parties should contact the agents to discuss their space requirements and terms. The lease allows retail use, but leisure uses will also be considered subject to planning and landlord’s consent for a change of use.
Service Charge
The on-account liabilities for the current service charge year to 31st December 2019 are as follows:- • Store - £94,390 • Car park - £152,290 Full details of the current service charge budgets and liabilities are available in the dataroom.
Tenure
Leasehold - Full repairing and insuring
Sustainability
An Energy Performance Certificate for the property is available in the data room.
This Property is Part of a High Street Scheme
WM Morrison Supermarket - Swindon
The property comprises a purpose built food store arranged over ground and first floor levels situated within the modern Regent Circus development. The main trading level is at ground floor and is accessed from the piazza adjacent to the customer car park entrances. A smaller ancillary area is provided at first floor. The store is serviced from a dedicated service yard to the side of the building. The store has an adjacent dedicated surface level car park providing 238 spaces. There is a separate multi-storey car park for the remainder of the scheme providing an additional 212 spaces. Both car parks are currently operated on a pay and display basis at the same cost levels. Leases offered for assignment or for sub-letting either as a whole or in parts.
Disclamier
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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