Basingstoke is an economically vibrant town in Hampshire, 48 miles south west of London.
The town is one of the most affluent in the country, ranking 16th out of the top 200 PMA Retail Centres.
The subject property is located in a prominent and easily accessible position, fronting the A30 Winchester Road.
The scheme forms part of the prime retail warehousing pitch for Basingstoke.
The park is let to Hobbycraft and Axminster Tools & Machinery, providing an attractive WAULT of 7.7 years.
The current rent passing is £307,480 per annum, reflecting a low average rent for the town of £17.31 per sq ft.
Axminster Tools & Machinery have a fixed uplift in August 2017.
Unrestricted open A1 planning consent including food.
We are seeking offers in excess of £4,810,000 (Four Million, Eight Hundred and Ten Thousand Pounds). A purchase at this level reflects an attractive net initial yield of 6.00%, increasing to 6.20% in August 2017, assuming purchaser’s costs of 6.58%.