271 winchester road southampton so16 6tp - Wilkinson Williams

2
WICKES 271 WINCHESTER ROAD, SOUTHAMPTON
Investment Considerations
• Southampton is a major commercial centre with an affluent primary
catchment population of 681,000 people.
• Southampton is a wealthy city which ranks 19 out of the top 200
PROMIS centres in terms of the volume of comparison retail spend
available in the catchment area.
• The property is situated in a prominent position off the A35 in an
established ‘out of town’ location close to occupiers including Halfords,
Currys, Pets at Home and The Range.
• The building is an attractive, modern purpose built retail warehouse
unit providing 47,587 sq ft (G.I.A) of accommodation, a garden centre and
car park.
• The property has a ‘bulky goods’ planning consent.
• The property is let to Wickes Building Supplies Limited (D&B Rating:
5A1) with an unexpired term of over 17 years.
• The property rent equates to £14.00 per sq ft with a fixed uplift in
2012 to £16.22 per sq ft.
• We are instructed to seek offers based on an attractive net initial
yield of 6.5% (based on purchaser’s costs of 5.7625%). This equates to
a purchase price of £11,240,000 based on the vendor topping up the
rent to the fixed level due in July 2012 of £772,329.55 pa.