CWD551 WW Taunton iBrochure - Wilkinson Williams

PRIORY FIELDS RETAIL PARK • TAUNTON • TA1 1QSPRIME RETAIL PARK INVESTMENT SALEINVESTMENT CONSIDERATIONSTaunton is the main administrative and retail centrefor Somerset, and enjoys excellent roadcommunications, being close to the M5 motorway.The town benefits from an affluent and captivecatchment population with higher than averagelevels of retail spend per capita.The property is situated in a highly visible location,which is to be further improved by a new road link.The scheme is well let to the ‘A’ rated (D&B)covenants of Dunelm, Carpetright, Harveys,HomeSense, Pets at Home and Wickes, and benefitsfrom an attractive average income weightedunexpired lease term of marginally under 14 years,inclusive of breaks.Significant asset management potential, includingdownsizing Wickes to create 3 further units.Heads of Terms are agreed with Hobbycraft andDreams, subject to planning, for two of these.Reversionary potential, as demonstrated by Headsof Terms agreed with Hobbycraft and Dreams, at£23.50 per sq ft.We are instructed to seek offers for the freeholdinterest in the above property of £28,333,000(Twenty Eight Million, Three Hundred and ThirtyThree Thousand Pounds), subject to contract andexclusive of VAT. This reflects an attractive netinitial yield of 6.50%, based on purchaser’s costsof 5.80%.INVESTMENTCONSIDERATIONSLOCATION /CATCHMENT &DEMOGRAPHICSSITUATION /RETAIL WAREHOUSINGIN TAUNTONDESCRIPTION TENURE /COMPULSORYPURCHASE ORDERTENANCIES /PLANNINGASSET MANAGEMENTPOTENTIAL /TENANTS’ COVENANTSVAT /PROPOSAL /CONTACTS