Hengrove Leisure Park, Bristol

Investment - Sold

Hengrove Leisure Park, Bristol

Price

£13,540,000

Description

• Major asset enhancement opportunity in the UK’s 8th City.

• Bristol has a Primary Catchment Population of 962,000 and 442,602 people live within a 20 minute drive time of the property.

• A 19.17 acre virtual freehold ownership granted by way of a 999 year long lease from Bristol City Council with an existing site density of just 12.81%.

• The scheme is fully let and the total passing rent of £1,084,129 pa represents an affordable current average rent of £12.29 per sqft.

• WAULT of 11.56 years and WAULT to tenants’ breaks of 6.28 years.

• Fully let with 100% of the income secured to tenants with a Low Risk or Very Low Risk Experian rating.

• Over the short to medium term there is a fabulous opportunity to masterplan the enhancement, intensification and redevelopment of the scheme to include a multitude of alternative and complementary uses.

Net Initial Yield

7.50%