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Waitrose, West Street

For sale: POA|27761 Sq Ft|Shopping Centre Unit, Other, Retail, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALEPOA
SIZE27761 Sq Ft
ADDRESSWaitrose, West Street, Stamford, PE9 2PR
TYPEShopping Centre Unit, Other, Retail, Other Property Types & Opportunities
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON3rd September 2020

DESCRIPTION

Summary

Well let foodstore investment opportunity

Location

Stamford is an attractive, historic and affluent town located adjacent the A1, approximately 10 miles (15km) north west of Peterborough and 26 miles (42km) east of Leicester. The total population within the Stamford primary retail market area is 54,000 and it is projected to see above average growth in population within its retail market area over the period 2018 – 2023. The foodstore is situated on the west side of the town centre and within walking distance of its historic pedestrianised retailing core.

Investment Summary

? Situated in the affluent and historic town of Stamford, close to the town centre. ? The town demonstrates strong demographics with a significantly above average representation in the most affluentAB group and with per capita total retail spending levels above average. ? A highly prominent foodstore comprising 27,761 sq ft, with 121 surface car parking spaces (1:229 sq ft). ? Let to the strong 5A1 institutional covenant of Waitrose Ltd. ? 9.75 years unexpired. ? Current passing rent of £430,000 per annum, reflecting £15.49 psf. ? Freehold. ? 2.05 acre site area.

Proposal

Offers sought in excess of £7,680,000 subject to contract and exclusive of VAT reflecting a Net Initial Yield of 5.25%.

LOCATION

Location: Waitrose, West Street, Stamford, PE9 2PR

Stamford (0.7 miles)

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