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Paxcroft Mead Shopping Centre

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HilpertonTrowbridge BA14 7GW WiltshireSouth West
Ref: 7365

  • Size 12,763.00 ft² (1,185.72 m²)
  • Price: £2,250,000
  • Initial Yield 7.51
Simon Bennett
Your contact
Simon Bennett
0117 930 5717

Description

Description

> Located in Trowbridge, the county town of Wiltshire
> Significant residential development nearby, increasing centre catchment
> Anchored by Budgets Stores Ltd
> Current rent of £179,605 per annum (only £14.07 per sq ft overall)
> 56% of income let to national covenants
> AWULT of 8.46 years to xpiry and 8.14 years to break
> Angles to add value through outstanding reviews
Freehold neighbourhood centre investment opportunity

Specification

Paxcroft Mead provides 12,763 sq ft GIA of retail accommodation in 8 units, with a central 36 space car park and landscaped surroundings. The centre is anchored by Budgets supermarket. The main retail units were constructed in 2001 with an extension of 3 retail units and 11 flats completed in 2007. The residential flats have been sold off to owner occupiers and benefit from their own separate parking area. The site in total extends to 0.518 hectares (1.28 acres).

Terms

Offers are sought in excess of £2,250,000 (Two Million, Two Hundred and Fifty Thousand Pounds), subject to contract for our client's freehold interest in the above property. A purchase at this level reflects a net initial yield of 7.51%, assuming purchaser's costs of 6.33%.

Viewings

Please contact Simon Bennett.

VAT

The property has been elected for VAT, however it is anticipated that this transaction will be treated as a Transfer of a Going Concern (TOGC).

The relevant EPC readings for each unit are as follows:

Unit 3C68
Unit 5C66
Unit 7B49
Unit 9C59
Unit 11C60
Unit 1-15F127
Unit 2-15C74
Unit 3-15B50

Transport Information

Energy Rating

Energy Rating

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Simon Bennett
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JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:-
a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.
For properties in Scotland:
e. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law
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