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Waterside Retail Park, Station Road, Ilkeston, Derbyshire

67941 sq ft
Nick Richardson

Partner, Investment

020 7312 7420
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Property Details

Description

  • 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%
 

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