Silverlink Leisure Park North Shields, NE28 9NG
57,065 sq ft Leisure
Freehold Property to buy in North Shields
Prime leisure investment opportunity with Odeon cinema anchor benefitting from annual index reviews
- Purpose-built cinema complex with four adjoining restaurant units totalling 57,065 sq ft forming part of the regionally dominant Silverlink Shopping Park.
- Anchored by a nine screen Odeon cinema, including an IMAX screen. The lease is secured against Odeon Cinemas Holdings Limited until September 2038, with annual RPI uplifts (c/c 1% - 4%).
- The restaurant units provide ﬂexible accommodation between 3,203 sq ft and 4,140 sq ft GIA. The units are currently let to Five Guys, Pizza Hut, Nando’s and Cassia.
- The overall scheme produces a topped up annual income of £1,241,104 pa, reﬂecting £21.75 psf.
- The weighted average unexpired income to break is 11.7 years.
- Freehold site extending to 6.44 acres, reﬂecting a very low site coverage of 20%.
- The subject property is situated approximately 5.5 miles north east of Newcastle city centre. It occupies a highly prominent location just off the newly upgraded Silverlink Interchange, where the A1058 intersects the A19.
- The property itself is situated in a prominent position on the northern side of Silverlink Retail Park. Neighbouring occupiers include M&S, Currys, Next, JD and Sports Direct.
- Large catchment population of 430,267 within a 15 minute drive time, increasing to 853,483 within 20 minutes.
- Superb car parking ratio of 1:91 sq ft presents a number of potential asset management and development opportunities, subject to planning.