Waterside Retail Park, Station Road, Ilkeston, Derbyshire – Ilkeston
Shop, retail unit for sale
£13,700,000 67,941 sq ft
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.
• 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.