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The Pompey Centre Portsmouth | Po4 8Sl THE POMPEY CENTRE PORTSMOUTH | PO4 8SL PRIME MIXED USE INVESTMENT 2 l THE POMPEY CENTRE THE POMPEY CENTRE l 3 KEY INVESTMENT CREDENTIALS ¬ The City of Portsmouth is predominantly located ¬ A rare opportunity to acquire a mixed use scheme on Portsea Island on the south coast in Hampshire, including Trade Park, Industrial, Hotel, Retail, approximately 19 miles east of Southampton and Leisure and Restaurants. 70 miles south-west of London. ¬ The Pompey Centre is let to a leading mix of national ¬ Portsmouth is the 27th largest population centre tenants including; B&Q, McDonald’s, Safestore, in the UK with a resident population of 215,000 and KFC, Topps Tiles, Accor Hotel, is the only city in the UK whose population density Lloyds Pharmacy and the NHS. exceeds that of London. ¬ Total scheme income of £4,040,445 per annum ¬ The Pompey Centre benefits from being located in the (including guarantees) of which the majority is let to centre of Portsea Island adjacent to Fratton Park just ‘Very Low Risk’ covenants with a WAULT of off the A2030 Goldsmith Avenue, the principal route 8 years to expiry. leading west towards the city centre. ¬ Immediate potential rental uplifts on some outstanding We are instructed to seek offers in the region of: ¬ A well-established modern purpose built scheme reviews, lease renewals and lettings. developed in 2003 on 24.1 acres totalling approximately 290,956 sq ft with 1,033 car spaces. ¬ Asset Management opportunities to add value and floorspace over the medium term. £56,000,000 ¬ Predominantly Freehold. (Fifty-Six Million Pounds) subject to contract and exclusive of VAT. An acquisition at this level would reflect aNet Initial Yield of 6.76% “The Pompey Centre is exceptionally well established rising to approximately 6.9% within two years (owing to expected in Portsmouth, being adjacent to Fratton Park and a uplifts at rent review, renewal and RPI) assuming purchaser’s costs successful Tesco Extra store” of 6.8%. Reading M4 LONDON M4 Staines Newbury Croydon Tadley A24 A33 Camberley M25 Epsom M3 Woking Basingstoke M25 4 l THE POMPEY CENTRE A303 M23 A24 A22 A39 A3 Tourism Rail Crawley HIGHLY In 2015 Portsmouth and Southsea ranked in the top 20 Portsmouth is served by three rail stations; Portsmouth & M3 most visited towns and cities in the UK. Portsmouth has Southsea to the west, Fratton located centrally and Hilsea ACCESSIBLE an abundance of tourist attractions predominantly focused to the north. Fastest journey times from Fratton Station: A31 Haslemere around its maritime history and the Naval Base. Chichester 19 minutes Salisbury Winchester Horsham Leading attractions that help contribute significantly towards LOCATION Southampton Central 38 minutes A24 the local economy include HMS Victory, The Mary Rose Petersfield Museum, HMS Warrior, Spinnaker Tower, Royal Navy London Waterloo 1 hour 24 minutes Submarine Museum as well as Charles Dickens Birthplace Portsmouth is predominantly located on Portsea A272 Museum and the D Day Museum. Island on the south coast in Hampshire, approximately Eastleigh Road A3 19 miles south-east of Southampton and 70 miles The highly successful Gunwharf Quays, in the top 3 Designer A23 Outlets in the UK, has an exciting array of shopping and south-west of London. The scheme has strong road communications with the A338 dining which adds to the significant spend from outside A2030 providing direct access to the A3 approximately Portsmouth’s catchment. The City has one of the strongest marine and maritime economies in 1.9 miles to the north west, and from there the M275 M27 the UK as well as being home to the Royal Navy. Global giants in the and wider motorway network. Southampton advanced manufacturing, defence, technology and aerospace are M3(M) A27 located in the city including BAE Systems, IBM, Babcook, QinetiQ, The M275 provides the main connecting link to Southampton A31 Airbus and PALL Europe. Portsmouth’s Growth Agenda along the M27 to the west and Chichester along the A27 to Havant the east. Hythe Portsmouth is the 27th largest population centre in the UK which Major initiatives include: Ringwood Fareham Brighton currently stands at 215,000 and is projected to grow to 250,000 Central London can be accessed by the A27 and A3(M) Hove by 2050, also accommodating 18,000 new homes by 2034. The Tipner & Horsea Gateway via Guildford. Worthing Funding has been secured as part of the Government’s New city’s working population is 4% higher than the national average. Portsmouth benefits from being extensively covered by Portsmouth Bognor The University of Portsmouth is ranked within the top 50 with a City Deal to kickstart this prominent waterfront site the First bus network currently running within the city, Milton Lymington student population of 23,000. The first University Technical College bordering the M275. Up to 2,730 homes and business with approximately 50 bus routes in Portsmouth, Regis opened in 2017 in the city to boost regional employment and to space to accommodate more than 3,700 permanent jobs Fareham and Gosport. supply a highly skilled advanced workforce. is planned over the next decade. Bournemouth City Centre Significant investment is planned to reshape the City Ferry Centre including provision of accommodation to house “ Portsmouth has exceptionally 4000 students together with new road and Public Realm Portsmouth offers direct ferries to France in under three strong population and employment improvements. The University is intending to create a world hours, with routes to Cherbourg, Caen and Le Havre leading City Centre Campus over the next decade. amongst the destinations. growth projections” 6 l THE POMPEY CENTRE THE POMPEY CENTRE l 7 A3(M) HIGH DENSITY CATCHMENT & Southwick Purbrook DEMOGRAPHIC Boarhunt Westbourne ¬ Population – According to CACI Limited an estimated 160,885 people A3 A3(M) live within a 10-minute drive-time of the property, increasing to over 230,383 people within a 15-minute drive. Havant Portchester ¬ Strong Growth – The population of Portsmouth has seen above average growth of 0.68% per annum between 2011 – 2017 (PROMIS). A27 Langstone ¬ Comparatively Affluent – Over 54% of the 10-minute catchment M27 Cosham A27 population are classified within categories AB (in higher or intermediate Farlington managerial/admin/professional careers) and C1 (in supervisory, clerical, junior managerial/admin/professional careers), which is higher than the 12 A27 UK average. A3 ¬ Within a 10-minute drive time, those considered to be within the Hilsea Northney “Rising Prosperity” and “Comfortable Communities” Acorn categories M275 account for 42.5% of the profile. A2030 Portsmouth ¬ Portsmouth benefits fromlarge scale touristic spending with Visit A32 Stoke A3 Britain estimating an annual injection of approximately £39 million between 2014 and 2016. Landport ¬ Average house prices in Portsmouth increased by 7.6% between Q4 A2047 Fratton A3023 2016 and Q4 2017, 3.3% more than the PROMIS average. A2030 Hayling Island A3 A32 A2030 A3023 Gosport “ Portsea Island has the highest population South Hayling density in the UK, ahead of London” A288 Southsea Eastoke 10-minute drive-time 15-minute drive-time 8 l THE POMPEY CENTRE THE POMPEY CENTRE l 9 2 A27 A397 A2030 M27 4 A27 Limited Retail Competition: 12 Ocean Retail Park, PO3 5HH PORTSMOUTH 1 A3 The 175,000 sq ft scheme has wide bulky goods consent. RETAILING & Retailers on the scheme include Currys PC World, M&S Foodhall, TK Maxx, Tapi Carpets, McDonald’s, Halfords A2047 and Carpetright. Rental tone £25 psf for 10,000 sq ft units. INDUSTRIAL 5 Homebase has recently closed. PROVISION A2030 Portsmouth Retail Park, PO6 4FB M275 2 The 42,341 sq ft park has A1/A3/D1 and D2 consent. 3 1 Retailers include Home Bargains, Jollyes, Decathlon, Total out of town retail supply in Portsmouth including food Portsmouth A3 Pure Gym, The Vet, Greggs, Subway and Costa. provision is estimated at 667,000 sq ft. The provision is of a very mixed quality with Ocean Retail Park, being the only good quality modern scheme on Portsea Island. Due to the high Burrfields Retail Park, PO3 5HH density of development and lack of suitable sites, the Out of Town retail 3 A2047 The 25,000 sq ft units scheme has restricted A1 consent. supply has always been low for a City the size of Portsmouth. Retailers are Pets at Home and Office Outlet. There are no other modern, dedicated Trade Parks on Portsea Island. The majority of the supply of industrial, distribution and manufacturing A2030 accommodation is located towards the north of Portsea Island. Fitzherbert Road Retail Park, PO6 1RR 4 B&Q is now the only dedicated DIY store on Portsea Island A3 A2030 Comprises 81,772 sq ft Sainsbury’s with petrol filling following the recent closure of the 43,000 sq ft Homebase on station and solus 33,054 sq ft B&M with Garden Centre. Ocean Retail Park. A32 The Range, PO3 5RR 5 A3 A2030 The 32,025 sq ft solus unit located on an industrial estate “ The Pompey Centre is a thriving and has bulky goods consent. business and retailing hub benefiting A288 from proximity to Fratton Park and B2/B8 Areas Portsmouth commercial areas includes industrial, a new Tesco Extra” distribution and manufacturing. 10 l THE POMPEY CENTRE THE POMPEY CENTRE l 11 3-1 Scheme Configuration Scheme Construction TENURE 3-2a THE POMPEY The property was developed in 4 distinct phases that The scheme was developed in 2003 and is of the 3-2b comprise the following: following construction: 2-6 3-3 2d Predominantly Freehold 2-7 3-4a Trade Park: Steel portal frame construction with steel profile CENTRE 2c 2-8 Phase 1: The property is to be sold encompassing the extent of 3-4b sheet cladding and pitched roofs incorporating roof lights.
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