No longer on the market
This property is no longer on the market
MapRetail property (out of town)
Features and description
- Freehold with a site area of 1.01 hectares (2.5 acres)
- Approximately 7,716.53 sq m (83,060 sq. ft) anchored by Boots and the Department for Work and Pensions
- WAULT of 3.05 years to lease expiry (1.64 years to break)
- 76% of the occupational area secured against national multiples
- Total gross income of £647,000 per annum and net income of £519,731 per annum after landlord's shortfalls
- 24 car parking spaces
- Service charge currently £1.76 per sq. ft
- Asset management opportunities including ongoing lettings
- Guide price reflects a gross initial yield of 13.85% and a capital value of £45 per sq ft
- Online Auction on Thursday, 30 June 2022
Opened in 1984, the Princess of Wales Shopping Centre comprises a dominant, open air, pedestrianised precinct located within the heart of Dewsbury, West Yorkshire which provides a community shopping experience in the heart of Dewsbury, West Yorkshire. The scheme provides approximately 7,716.53 sq m (83,060 sq. ft) of mixed-use accommodation, arranged principally over ground floor level. The centre offers a robust mix of mass-market and value-led operators and is anchored by Boots, the Department for Work and Pensions, Poundland, The Works and Superdrug. The total site extends to approximately 1.01 hectares (2.5 acres).
To be sold at auction on 30th June unless sold prior
Location:
Dewsbury is a market town in the Metropolitan Borough of Kirklees, in West Yorkshire, England. It lies on the River Calder about 36 miles north east of Manchester, 10 miles south of Leeds and 10 miles south east of Bradford.
Dewsbury is served by the M1 and M62 motorways. The A644 links Dewsbury to the national motorway network, connecting with the M1 and M62 motorways. Dewsbury’s Railway Station provides regular services to Leeds in 13 minutes and Manchester in 41 minutes. Leeds Bradford Airport is located 12 miles to the North of the town.
The subject precinct sits between Vicarage Road, Longcauseway, Barn Street and Chapel Street, occupying a prime trading position and forming an integral part of Dewsbury’s retailing provision. Rishworth Retail Park is directly opposite with occupiers including Matalan, Iceland and Halfords.
Tenancy:
A summary of the tenancy schedule is below. For a full copy of the current tenancy schedule, please email [use Contact Agent Button]
- Units arranged principally over ground floor
- 1,752.47 sq m (18,864 sq ft) unit let to Boots producing £92,500 per annum
- 839.26 sq m (9,034 sq ft) unit let to Department for Work & Pensions producing £70,000 per annum
- Other tenants include Poundland, The Works and Superdrug
- Gross income of £647,000 per annum
- Net operating income of £519,731 per annum after allowing for landlord's shortfalls
Online Auction on Thursday, 30 June 2022. For further information, such as legal documents and property information, please visit bidx1.com.
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