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Next Charles Watts Way 143,582 sq ft 100% Let Retail Property Southampton SO30 4RT £19,000,000 (£132.33/sq ft) 7.72% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent and highly visible “trophy” retail warehouse asset located in Hedge End, Southampton
- Let to the market leading 5A1 covenant of Next Group Plc, with a market capitalisation of £13.9bn
- Situated in an affluent area with a large immediate catchment area of over 255,000 residents within a 15-minute drive
EXECUTIVE SUMMARY
The property comprises an attractive, well designed three storey retail store with a conservatory and covered outdoor space, formerly operated as a garden centre. The property was designed and built for Next in 2014 and forms a multi brand concept with concessions from Costa Coffee, Holland and Barratt, Virgin Holidays and Bath & Body Works.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Standalone
Property Size
143,582 sq ft
Costar Property Class
B
Year Built
2014
Price
£19,000,000
Price per sq ft
£132.33
Yield
7.72%
NOI
£1,466,800
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Plot ratio
1.96
Total Plot Size
1.68 ac
Parking
211 Spaces (4.2 Spaces per 1,000 sq ft Leased)
Frontage
494 ft on Next Hedge End
AMENITIES
- Bus Route
- Security System
- Wheelchair Accessible
- Air Conditioning
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NEARBY MAJOR RETAILERS
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