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The Lanes Shopping Centre Lowther St
437,331 SF 66% Leased 4-Star Retail Building Carlisle CA3 8NX £15,740,000 (£35.99/SF) 11.60% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Almost 130,000 customers and £879 million of retail and leisure expenditure within a 20-minute drivetime.
- The Lanes has a weighted average unexpired lease term (WAULT) of 7.32 years, above the sector average
- Major tenants include Primark, Next, Superdrug, New Look, River Island, Costa Coffee and Lush.
EXECUTIVE SUMMARY
Carlisle is the urban capital of the county of Cumbria, with The Lanes monopolising the offer and the closest comparable competition being in Glasgow and Newcastle
Long Leasehold from Carlisle City Council, expiring 2250 and therefore having approximately 226 years unexpired
Long leasehold title extends to 6.40 acres
Strong anchor tenants including the Primark (55,915 sq ft), River Island (11,546 sq ft), Poundland (7,685 sq ft) and Next (14,076 sq ft)
56% of gross income is secured against the top 10 tenants in the scheme
Robust and sustainable income profile with a WAULT to expiry of 7.32 years and a WAULT to break of 6.12 years
Landlord controlled, 600-space car park which demonstrates consistent, strong performance
A number of compelling value-add asset management opportunities
Total gross income of £4,301,966 per annum
Net operating income, after deductions of Landlord shortfalls, head rent, and non-recoverable contribution to marketing, of £1,949,157 per annum
We are instructed to seek offers in excess of £15,740,000, exclusive of VAT and subject to contract. This reflects a net initial yield of 11.60% and a capital value of £36 per sq f
PROPERTY FACTS Sale Pending
AMENITIES
- Food Court
- Property Manager on Site
- Security System
- Storage Space
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
LOCATIONCarlisle is one of the North of England’s principal retail centres drawing on a total catchment of over 330,000 persons and a primary catchment in excess of 124,000, a strong tourist industry and large student population.The 500,000 sq ft Lanes Shopping Centre dominates retailing in the city with 70 units let to tenants including Debenhams, Primark, J D Sports, H&M, Next, Superdrug, Lush, Pandora and Monsoon. The centre has 600 car parking spaces on site and attracts an annual footfall in access of 11.5 m persons. The subject property is situated in a 100% prime position adjacent to Quiz and Claire
The subject property is situated in a 100% prime position adjacent to Clarks, Eurochange and Jack Jones and opposite Claire's Accessories.
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park. Occupying an extremely prominent corner location fronting external Lowther Street and internal Grapes Lane, the unit provides a fantastic A3/A4 opportunity subject to consents.
A new lease on terms to be agreed. A freehold offer will be considered.
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park.
Available for lease at a rent of £10,000 per annum
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park. A new lease on terms to be agreed, previously it was going for £70,000 pa A short term occupancy will also be considered.
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park.
Unit 83 provides 9,540 sqft of available retail accommodation.
A new FRI lease on terms to be agreed. Short Term occupancy also available.
A new FRI lease for a term of years to be agreed. Rent upon application.
A new lease for a term of years to be agreed. A short term occupancy also considered.
A new FRI lease for a term of years to be agreed. Short term occupancy also available.
The available space is over three floors from lower ground, mall level and fist floor. The space is suitable for retail, leisure, F & B, Cinema, family entertainment centre uses.
A new lease for a term of years to be agreed.
A new FRI lease for a term to be agreed. A short term pop up occupancy will also be considered.
A new FRI lease for a term of years to be agreed. Short term occupancy also considered.
A new FRI lease for a term of years to be agreed. A short term pop-up would also be considered.
A new lease for a term to be agreed. A short term lease or pop-up opportunity will also be considered.
The available space occupies a prominent corner located fronting external Lowther Street and internal Globe Lane. A new FRI lease for a term of years to be agreed. A short term pop up occupancy also considered.
The property offers a substantial first floor trading opportunity with full vertical circulation and access via Grapes Lane providing the following approximate areas
| Space | Size | Space Use | Position | Available |
| Ground | 1,627 SF | Retail | In-Line | Now |
| Ground | 1,037 SF | Retail | In-Line | Now |
| Ground | 5,380 SF | Retail | In-Line | 30 Days |
| Ground | 2,288 SF | Retail | In-Line | Now |
| Ground | 950 SF | Retail | In-Line | Now |
| Ground | 515 SF | Retail | In-Line | Now |
| Ground | 993 SF | Retail | In-Line | Now |
| Ground | 771 SF | Retail | In-Line | 30 Days |
| 11 | 9,540 SF | Retail | In-Line | 30 Days |
| 11 | 2,077 SF | Retail | In-Line | Now |
| 11 | 70 SF | Retail | End Cap | Now |
| 11 | 661 SF | Retail | In-Line | Now |
| 13 | 525 SF | Retail | In-Line | Now |
| 15 | 37,815 SF | Retail | Outparcel | Now |
| 2 | 236 SF | Retail | In-Line | Now |
| 4 | 792 SF | Retail | In-Line | 120 Days |
| 5 | 1,259 SF | Retail | In-Line | Now |
| 51 | 490 SF | Retail | In-Line | Now |
| 9 | 1,130 SF | Retail | In-Line | 120 Days |
| 93 | 420 SF | Retail | - | Now |
| 1st Floor | 17,400 SF | Retail | In-Line | Now |
Ground
| Size |
| 1,627 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 1,037 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 5,380 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
Ground
| Size |
| 2,288 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 950 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 515 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 993 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size |
| 771 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
11
| Size |
| 9,540 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 30 Days |
11
| Size |
| 2,077 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
11
| Size |
| 70 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
11
| Size |
| 661 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
13
| Size |
| 525 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
15
| Size |
| 37,815 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
2
| Size |
| 236 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
4
| Size |
| 792 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 120 Days |
5
| Size |
| 1,259 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
51
| Size |
| 490 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
9
| Size |
| 1,130 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| 120 Days |
93
| Size |
| 420 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size |
| 17,400 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
Ground
| Size | 1,627 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
LOCATIONCarlisle is one of the North of England’s principal retail centres drawing on a total catchment of over 330,000 persons and a primary catchment in excess of 124,000, a strong tourist industry and large student population.The 500,000 sq ft Lanes Shopping Centre dominates retailing in the city with 70 units let to tenants including Debenhams, Primark, J D Sports, H&M, Next, Superdrug, Lush, Pandora and Monsoon. The centre has 600 car parking spaces on site and attracts an annual footfall in access of 11.5 m persons. The subject property is situated in a 100% prime position adjacent to Quiz and Claire
Ground
| Size | 1,037 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The subject property is situated in a 100% prime position adjacent to Clarks, Eurochange and Jack Jones and opposite Claire's Accessories.
Ground
| Size | 5,380 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 30 Days |
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park. Occupying an extremely prominent corner location fronting external Lowther Street and internal Grapes Lane, the unit provides a fantastic A3/A4 opportunity subject to consents.
Ground
| Size | 2,288 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new lease on terms to be agreed. A freehold offer will be considered.
Ground
| Size | 950 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park.
Ground
| Size | 515 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Available for lease at a rent of £10,000 per annum
Ground
| Size | 993 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park. A new lease on terms to be agreed, previously it was going for £70,000 pa A short term occupancy will also be considered.
Ground
| Size | 771 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 30 Days |
The Lanes Shopping Centre is the dominant element of retail in the city centre and is home to well known high street names including Primark, Next, Debenhams, Deichmann, River Island, H&M, JD, Clarks, Pandora and Katie Loxton. The centre boasts a 625 space multi-storey car park.
11
| Size | 9,540 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 30 Days |
Unit 83 provides 9,540 sqft of available retail accommodation.
11
| Size | 2,077 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new FRI lease on terms to be agreed. Short Term occupancy also available.
11
| Size | 70 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
A new FRI lease for a term of years to be agreed. Rent upon application.
11
| Size | 661 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new lease for a term of years to be agreed. A short term occupancy also considered.
13
| Size | 525 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new FRI lease for a term of years to be agreed. Short term occupancy also available.
15
| Size | 37,815 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | Now |
The available space is over three floors from lower ground, mall level and fist floor. The space is suitable for retail, leisure, F & B, Cinema, family entertainment centre uses.
2
| Size | 236 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new lease for a term of years to be agreed.
4
| Size | 792 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 120 Days |
A new FRI lease for a term to be agreed. A short term pop up occupancy will also be considered.
5
| Size | 1,259 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new FRI lease for a term of years to be agreed. Short term occupancy also considered.
51
| Size | 490 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
A new FRI lease for a term of years to be agreed. A short term pop-up would also be considered.
9
| Size | 1,130 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | 120 Days |
A new lease for a term to be agreed. A short term lease or pop-up opportunity will also be considered.
93
| Size | 420 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
The available space occupies a prominent corner located fronting external Lowther Street and internal Globe Lane. A new FRI lease for a term of years to be agreed. A short term pop up occupancy also considered.
1st Floor
| Size | 17,400 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
The property offers a substantial first floor trading opportunity with full vertical circulation and access via Grapes Lane providing the following approximate areas
NEARBY MAJOR RETAILERS
Presented by
The Lanes Shopping Centre | Lowther St
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