Peterborough is the largest city in Cambridgeshire and, as such, is a dominant retailing location, benefiting from an extensive catchment area.
The city ranks 20th out of the top 200 PMA Retail Centres in terms of retail spend and total in-store retail expenditure.
The Bretton Centre is strategically located in close proximity to the A47, the main road through the city.
The property is a dominant scheme totalling 172,900 sq ft, anchored by Sainsbury’s, with other retailers including Boots, Sports Direct, Pets at Home, Laura Ashley, Poundland and Costa.
The scheme offers a unique tenant mix, including Sainsbury’s and a number of smaller occupiers, who with the adjacent occupiers of Iceland and Aldi, make it a popular convenience lead retail destination.
Well let with over 91% of the income comprising 5A1 D&B rated tenants.
Total income of £1,465,305 per annum, equating to a low average rent of £23.50 per sq ft for a scheme of this calibre.
Open A1 planning consent including food.
The scheme trades well, as evidenced by retailers renewing their leases, most recently Boots.
There are significant asset management opportunities, including several lease regears.
We are instructed to seek offers in excess of £18,935,000 (Eighteen Million, Nine Hundred and Thirty Five Thousand
Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 7.25%
(assuming purchaser’s costs at 6.74%).