A prominent freehold retail park located off Stafford Street, one of the main arterial roads into Wolverhampton from the M54.  The subject property is situated adjacent to a c.40,000 sq ft owner occupied Home Bargains as well as other demand drivers such as the Molineux Stadium, the University of Wolverhampton and significant residential provision.  Having just been substantially redeveloped, Unit 1 is let to JD Sports Gyms Limited for a term of 15 years with a tenant break option in year 10, whilst Units 2 & 3 are let to Iceland Foods Limited trading as the Food Warehouse for a term of 10 years.  The property benefits from a mix of fixed and open market rent reviews every five years. 

 

Date Purchased: January 2018
Tenure: Freehold
Tenants: JD Sports Gyms Limited
Iceland Foods Limited
Total Current Rent: £475,000 per annum
Lease Expiries: 2032-2034 (2027)