white river place SHOPPING CENTRE ST AUSTELL n CORNWALL white river St Austell Station place Trinity Street Fore Street white South Street river place Site outline for identification purposes only. white river place SHOPPING CENTRE, ST AUSTELL, CORNWALL INVESTMENT CONSIDERATIONS PROPOSAL n Modern Dominant Town Centre Shopping Centre accounting for over 50% of St Austell retailing n Offers sought in excess of £10,000,000 n Densely populated town within Cornwall with a county population of over 560,000 (Ten Million Pounds), subject to n Strong annual footfall of 3.2 million visitors enhanced by numerous nearby tourist attractions contract and exclusive of VAT. n BREEAM rated ‘Excellent’ scheme (constructed in 2009) providing 28 retail and leisure units totalling 16,543 sq m (178,077 sq ft) A purchase at this level reflects an attractive Triple Net Initial Yield n The scheme includes the main town centre multi-storey car park totalling 550 spaces of 11.30% and low capital rate n National brands include Wilko, TK Maxx, Peacocks, Superdrug, Costa and Lloyds Bank of £56 psf, subject to standard n Total Contracted Rent of £1,647,504 per annum purchaser’s costs. n Net Operating Income of £1,207,095 per annum n WAULT of 4.32 years to expiry (3.14 years to break) n Numerous development opportunities to alternative uses, including residential, subject to necessary consents. white river place SHOPPING CENTRE, ST AUSTELL, CORNWALL Chedder Lynton Burnham-On-Sea Ilfracombe Minehead Wells A39 EXMOOR NATIONAL PARK BRIDGWATER A39 M5 A37 Barnstable A358 LOCATION A396 Bideford TAUNTON A361 A303 St Austell is one of the largest towns within the County of Cornwall, located 15.2 miles (24.5 km) to A361 Great A358 the north east of Truro, 38.2 miles (61.5 km) to the west of Plymouth and 155 miles (249.4 km) to the Torrington YEOVIL Ilminster south west of Bristol. Tiverton A303 A37 A377 Road communications are excellent and the town benefits from direct access to the A390, the A386 A39 principal arterial route from Truro to Liskeard and the A391 leading to the A30 (Bodmin Bypass), Bude M5 Honiton 7.6 miles to the north. UK Motorway access is provided via Junction 31 of the M5 Motorway, Axminster located to the south of Exeter, approximately 75.0 miles (120.7 km) to the north east. A30 A35 A30 Bridport Great Western Railway services operate from St Austell Station, with the addition of some limited Seaton EXETER Sidmouth Cross Country services, providing access to destinations including Birmingham New Street, A376 A395 Launceston Wolverhampton, Manchester Piccadilly, Leeds, York, Edinburgh and Glasgow Central. Great A380 Exmouth Western Railway provides direct services to Exeter St David’s (113 minutes), Bristol Temple DARTMOOR NATIONAL PARK Tavistock Meads (185 minutes) and London Paddington (243 minutes) on an hourly basis. In addition A30 A388 Newton Padstow Abbot Teignmouth A38 St Austell Rail Station provides a dedicated rail link to Luxulyan and the Eden Project, a Yelverton A389 popular visitor attraction with a journey time of 28 minutes. Torquay Bodmin A386 Newquay A385 Paignton Cornwall Airport, Newquay, is located 14.7 miles to the north west, providing A38 Saltash A390 Ivybridge Brixham national and international flight services, with regular bus links to St Austell, via A3075 PLYMOUTH Dartmouth Newquay. In addition, Exeter Airport is located 81.6 miles to the north east ST AUSTELL and Bristol Airport 145 miles to the north east. Kingsbridge A30 Truro Penzance Falmouth A394 A3083 S HILL DRUMM ER’ L white river place L TE S SHOPPING CENTRE, ST AUSTELL, CORNWALL U A A SCREDDA 3 T 91 S D A O R NEAR 4 7 2 3 ME B CARCLAZE EDEN PROJECT D R 13 MINS Y E TRETHOWEL S S I N TREGREHAN O G PHE R RE N T YS D MILLS S A S ICK L R O A D R D R E A S EA 3 R N 9 L O E 1 D IL A H D M E ROA L D H D A W CU O A BOSCOPPA EN N TR ME D R G AD O N RO A H V E A E G P N OW R R H TRE R E 4 T E 7 O N 2 R A 3 D S O P B P 0 LA 9 T BETHEL 3 G ROA D B A O D OA UCK VER S L R LERS R P L O A H A E LA AD O D ET N B N E L E T A A R L I O S R A L RD E D I N SANDY BOTTOM A AD D O N R O RLY A3058 CO CA PPERAGE R D O ST AUSTELL A RO A H D US RA A390 HOLMB ALEXAND ROAD EAST HI LL 74 W 2 3 O B EAST O D B O D R U L D H R A A C N E RD E O R N R U D N H O C R P W D T O S R E L T R CARLYON BAY ST AUSTELL A H P H E C A N MOUNT R OUTHBOURNE ROAD O D A390 S A OA CHARLES D R CHARLESTOWN NE ST MEWAN UR O S B D H RD A T W A ES OU WL O S SA L E R 0 9 S 3 N R A A D W E T N E P AD RO ICK P R O TRE GOR R T H D P OA E K R A TREGORRICK C N WALK RRI BUS - 1 MIN DRIVE - 550 SPACES EGO R TR D White River Place is the pre-eminent Shopping Centre St Austell has exceptional bus services across th DUPORTHe town White River Place is closely connected to the A390, location within the very compact Town Centre of and wider region, with 23 dedicated service routes the primary arterial route from Liskeard to Truro, with St Austell. YouOrdnance can walk Survey anywhere © Crown Copyright and 2019. ever All rightsywhere. reserved. Licence number 100022432. Plottedpassing Scale - 1:22116 through the town, reasonable fares and frequent 550 public car parking spaces on site. timetabling. FLY - 27 MINS TRAIN - 7 MINS ROAD Cornwall Airport Newquay provides scheduled flight St Austell is served by both local and New A30 link road due to complete in 2022 services across the UK, Europe, Middle East and the United long-distance trains providing direct access to significantly enhance access to the centre. States, located only a short drive away. to London, Bristol and Exeter. white river place SHOPPING CENTRE, ST AUSTELL, CORNWALL SITUATION White River Place is situated on the pedestrianised section of Fore Street, which was the Towns historical retail thoroughfare in St Austell. The property has additional frontage and access to Trinity Street to the west and South Street to the south. The Centre has a strong pedestrian footfall, recorded at 3.2 million visitors per annum, and provides the Towns principal car parking facilities. The property is situated a short 7 minute walk to the west of St Austell Rail Station, providing direct access to London, Bristol and Exeter. ECONOMY St Austell is the largest town and hosts the third largest population within the County of Cornwall. St Austell is well positioned amongst numerous popular tourist attractions, attracting over 2 million tourists to Cornwall each year. St Austell ranks joint 3rd with Penzance in regard to Cornwall’s retail hierarchy based on national representation with major national occupiers within the Town Centre including Argos, Boots, T K Maxx, WH Smiths, Wilko, Burton, Dorothy Perkins, New Look, Clarks, Superdrug, O2, Carphone Warehouse and now EE. White River Place benefits form very limited competition within the immediate and surrounding area, providing the main retail provision within the Town. The closest competing town, Truro, is situated over 17.8 miles (28.6 km) to the south west. Major employers within the St Austell area include West Pharmaceutical Services Cornwall, Hawkins Holdings, Imerys Minerals and St Austell Brewery. white river place SHOPPING CENTRE, ST AUSTELL, CORNWALL CURRENT RETAIL CLIMATE White River Place Shopping Centre benefits from a well-balanced A strong fit with the catchment is fundamental for any retail location. There is increasing evidence that Community Shopping Centres can tenant mix, offering a combination of well-regarded national However, this is particularly pertinent to Community Shopping co-exist more readily with ecommerce than larger comparison retail covenants and successful independent businesses, aligning to Centres drawing from a local catchment to meet the functional, destinations. This is because local shopping centres provide a key the needs of the local consumers and enabling resilience in an convenience and value needs of the everyday shopper, in order to point of difference in terms of product availability, convenience, otherwise volatile market. establish a loyal and returning customer base. Whilst destination accessibility, service and price point. retail schemes provide high profile but infrequent retail experiences, Modern lifestyles, the economic environment and significant Local retail provision is increasingly relevant, fulfilling an important the majority of shopping trips take place much closer to home; 76% advances in consumer related technology have collectively need for everyday shopping essentials. They serve a local of consumers visit their local shopping centre more than once a week. altered consumer behaviour and shopping habits within the UK. catchment, often have visitor frequency above that of other retail The sub-sectors that benefit from these emerging trends are Value, Despite the common association of convenience retailing with centres and benefit from longer dwell times and higher basket Convenience and Online Retailing.