Shopping Centre with asset management potential, Widness

Development

Shopping Centre with asset management potential

£4,000,000Fixed price

Widnes is a well-established town located on the north bank of the River Mersey, 12 miles east of Liverpool and 25 miles south of Manchester
Green Oaks Shopping Centre comprises the dominant retail offering in Widnes extending to 95,545 sq ft (8,876 sq m) and comprises 18 retail units, 9 kiosks, a crèche and part ownership of Widnes town centre’s principal car park
The catchment area encompasses an estimated 521,227 people within a 20 minute drive with a total retail spend estimated at c £2.5bn
Passing rent of £758,400 per annum and a net operating income of £738,921 per annum
Morrisons pay approximately 1/3 of the service charge
WAULT of 3.62 years to expiry and 2.81 years to break
The Centre boasts a strong and diverse tenant line up to include Halifax Bank, EE, O2, Vodafone, Vision Express, Pandora and Holland & Barrett accounting for 39% of the passing rent
Approximately 70% of the passing rent was paid since March 2020
Neighbouring occupiers include Morrison’s, Aldi, Halfords and Iceland
The property is held long leasehold expiring on 20 December 2133 thus having some 112 years unexpired, at a peppercorn rent
Total site area of 9.23 acres (3.74 hectares)
The site offers extensive asset management potential including acquiring the freehold, selling off the Albert Road property separately, extending or renewing the leases to major tenants and potential to build a drive through on the southern tip of our car park subject to planning consent.

Marketed by

Allsop

Call
020 7543 6722