Washington Centre
Washington NE38 7RT
The Galleries Shopping Centre · Retail Property For Sale
·
535,000 SF
INVESTMENT HIGHLIGHTS
- Long unexpired term of 49 years
- Passing rent £1,243,550
- Single let
EXECUTIVE SUMMARY
The property is prominently situated in Washington fronting both Sunderland Highway and Washington Highway. The store has a large catchment population of 1,198,323 people iwth a comparison goods spend potential of £74.4 million.
PROPERTY FACTS
| Unit Size | 118,611 SF |
| No. Units | 1 |
| Total Building Size | 535,000 SF |
| Property Type | Retail (Unit) |
| Sale Type | Investment |
| Building Class | B |
| Number of Floors | 2 |
| Typical Floor Size | 300,000 SF |
| Year Built | 1974 |
| Lot Size | 19.51 AC |
| Parking Ratio | 3.96/1,000 SF |
AMENITIES
- Food Court
- Property Manager on Site
- Security System
- Storage Space
- Air Conditioning
1 UNIT AVAILABLE
Unit Asda
| Unit Size | 118,611 SF |
| Unit Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 6.00% |
| NOI | £1,270,200 |
| No. Parking Spaces | 458 |
DESCRIPTION
Newly refurbished supermarket unit comprising 118,611 sq ft with 458 car parking spaces.
SALE NOTES
The unit is single let in its entirety to McLagan Investments Ltd, with a guarantee from Asda Stores Limited on a long term lease at £10.46 per sq ft.
