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Waterside Retail Park, Station Road, Ilkeston, Derbyshire – Ilkeston

Shop, retail unit for sale

£13,700,000 67,941 sq ft

Montagu Evans
Contact name
Nick Richardson
Full address
Waterside Retail Park, Station Road, Ilkeston, Derbyshire DE7 5LF – Ilkeston
Property type
Shop, retail unit for sale
Asking price
£13,700,000
Features
Car park
Size
67,941 sq ft
Tenure
Freehold
NIY (%)
6.5
Brochure
Download the brochure

Ilkeston is a large town on the border of Nottinghamshire and Derbyshire with a population of 38,640. The 15 minute drive time population is 113,827.
• The subject property is prominently positioned on Station Road, which connects to the A6096 a short distance to the east.
• Purpose built retail park totalling 67,941 sq ft plus 14,933 sq ft of mezzanines and 317 car parking spaces (1:214 sq ft ratio).
• Large site area of 6.5 acres.
• Freehold.
• Open A1 (part food) planning consent.
• Strong retailer line including M&S, Halfords, Iceland, Poundland, Argos, Jollyes and Poundstretcher.
• Secure income with a WAULT of 8.75 years to lease expiry and over 8.25 years to break.
• Total passing rent of £950,904 pa, reflecting a low average rent of £14.00 per sq ft.
• Monopoly scheme with good trading profile and an excellent record of tenant retention and new lettings.
• Asset management and development opportunities.
• Seeking offers in excess of £13,700,000 ((Thirteen Million, Seven Hundred Thousand Pounds), subject to contract and exclusive of VAT.
• A purchase at this level would reflect an attractive net initial yield of 6.5% NIY¸ assuming purchase costs of 6.72%

This shop, retail unit for sale is located in Ilkeston.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Montagu Evans. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Montagu Evans for full details and further information.