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Next Charles Watts Way 143,582 SF 100% Leased Retail Building Southampton SO30 4RT $34,658,865 CAD ($241.39 CAD/SF) 7.72% Cap Rate
Investment Highlights
- Prominent and highly visible “trophy” retail warehouse asset located in Hedge End, Southampton
- Let to the market leading 5A1 covenant of Next Group Plc, with a market capitalisation of £13.9bn
- Situated in an affluent area with a large immediate catchment area of over 255,000 residents within a 15-minute drive
Executive Summary
The property comprises an attractive, well designed three storey retail store with a conservatory and covered outdoor space, formerly operated as a garden centre. The property was designed and built for Next in 2014 and forms a multi brand concept with concessions from Costa Coffee, Holland and Barratt, Virgin Holidays and Bath & Body Works.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Freestanding
Building Size
143,582 SF
Building Class
B
Year Built
2014
Price
$34,658,865 CAD
Price Per SF
$241.39 CAD
Cap Rate
7.72%
NOI
$2,675,664 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.96
Lot Size
1.68 AC
Parking
211 Spaces (4.2 Spaces per 1,000 SF Leased)
Frontage
494’ on Next Hedge End
Amenities
- Bus Line
- Security System
- Wheelchair Accessible
- Air Conditioning
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Nearby Major Retailers
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