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Newquay Road Retail Park Truro

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Newquay Road Retail Park Truro OPEN CONSENTED RETAIL PARK INVESTMENT NEWQUAY ROAD RETAIL PARK TRURO ENTER > OPEN CONSENTED RETAIL PARK INVESTMENT HOME INVESTMENT LOCATION & RETAIL SITUATION TENANCIES ASSET MANAGEMENT PROPOSAL SUMMARY CATCHMENT WAREHOUSING & DESCRIPTION & PLANNING & COVENANTS & CONTACTS NEWQUAY ROAD RETAIL PARK, TRURO TR1 1XD IN TRURO INVESTMENT SUMMARY Truro, the dominant commercial administrative centre for Cornwall, is situated in a highly accessible position on the A390, 28 miles east of Penzance and 56 miles west of Plymouth. The city has a very limited supply of retail warehousing, with Newquay Road Retail Park being the only scheme situated on the eastern side of the city. The property is located in an accessible and improving retail location with a new Waitrose development planned opposite. The park totals 49,296 sq ft, arranged in 4 units let to Dunelm, Harveys, Dreams and Hobbycraft. The scheme benefits from a wide planning consent allowing the sale of all comparison goods. The scheme is let off at relatively low rents of between £12.50 and £16.00 per sq ft. There is asset management and rental growth potential with the possibility of further improving the tenant line up in the future. Our clients are seeking a price in excess of £10,210,000 (Ten Million, Two Hundred and Ten Thousand Pounds) which will provide a purchaser with an attractive net initial yield of 6.50%, assuming purchaser’s costs of 5.80%. Bromyard 11 Builth Wells 7 Stratford A487 upon AvonA3400 Bedford A4112 A486 Lampeter A4103 M1 A509 M11 Woodbridge A470 Towcester A508 A1307 Cardigan A475 Pershore A46 A422 A5 A483 A10 10 A438 Great Newport Biggleswade Haverhill A1071 Ipswich A438 A6 A44 Shipston-Banbury A482 Hay-on-Wye Malvern Evesham Pagnell A505 9 A438 on-Stour 11 Sudbury 14 A1 A134 A14 A43 Milton A421 Royston A1017 Newcastle Hereford Ledbury 8 A422 Saffron (A604) Emlyn 1 A44 Brackley Keynes 13 A12 Fishguard A422 10 A505 Walden Llandovery A46 Moreton-in-Marsh Letchworth Baldock A131 Manningtree Felixstowe A485 A470 9 A487 2 Buckingham A507 Halstead A40 A479 A484 A465 Tewkesbury A421 Harwich Brecon A43 12 9 A1124 A478 Hitchin M50 10 LeightonA5 A120 St David's M5 A44 Buzzard 8 A120 A49 4 3 10 Stow-on- the-Wold Chipping M1 A40 Braintree A40 Ross-on-WyeGLOUCESTERSHIRE Norton M40 Luton A1(M) Stevenage STANSTED Colchester A133 Carmarthen Llandeilo Cheltenham Bicester Dunstable 11 7 A602 8 A40 11 A4260 A487 Crickhowell Gloucester A41 Bishop's A120 A361 A40 A44 A413 A483 9 A48 10 A10 A34 LUTON Welwyn Stortford A130 A40 A40 A4067 A470 A40 A131 Haverfordwest Abergavenny A4136 A436 Garden6 Narberth St Clears 9 Witham A12 Aylesbury City Ware A1060 Clacton-on-Sea Monmouth A417 A40 Kidlington 5 West A465 Brynmawr Witney Tring Hertford M11 Merthyr A429 Hemel Mersea A4076 Ammanford Tredegar 12 A40 A41 St 4 Harlow Milford A477 Tydfil Ebbw Blaenavon A40 Hempstead Kidwelly A4042 Oxford Hatfield Carterton Wendover A413 8 Albans Maldon Haven ValeA467 Chelmsford Neyland 49 13 Stroud A40 M10 3 Hoddesdon7 A141 A484 Rhymney Berkhamsted 7 A478 A465 A48 1 2 A466 8 A418 Thame A414 Aberdare Lydney A419 A4010 Pembroke A476 48 A472 A449 M5 Cirencester 7 22 Dock A477 Tenby Burry Pontypool Amersham 20 M4 Glyncorrwg 24 25 26 A12 A130 Pembroke PortLlanelli 47 46 45 Mountain Bargoed Nailsworth 19 5 M25 44 Ash A420 Abingdon Watford 43 Neath 6 High Enfield 5 Burnham-on-Crouch Swansea Cwmbran A46 Faringdon 18 Barnet 5 Wycombe 4 Chigwell 42 Chepstow A417 17 A10 A129 Risca 14 Tetbury Cricklade A419 Didcot M11 28 Rayleigh 41 2 A338 M40 4 Beaconsfield A12 Brentwood 3 2 A406 4 A127 A418 Maesteg40 A470 26 25 24 M48 1 A433 M1 Port 39 Pontypridd 27 23 Caldicot Wallingford A4130 Marlow 2 29 A127 Basildon Southend-on-Sea Newport Malmesbury Wantage A40 1 A41 Talbot 38 Caerphilly28 22 21 1 Harrow M4 Swindon A13 Port 29 UxbridgeA406 CITY M25 36 M4 30 SECOND SEVERN 16 Henley- Maidenhead A13 Einon 32 CROSSING OPEN M49 16 A429 Canvey Island 37 SUMMER 1996 17 M4 15 on-Thames Slough LONDON 35 34 19 17 A329 A4074 7 30 33 A346 Avonmouth A4 6 4 1 Woolwich Bridgend 18 1 18 A34 3 2 31 Tilbury Porthcawl M4 A4361 CARDIFF 19 2M32 LYNEHAM Windsor A4 Sheerness Cowbridge 3 A420 Chippenham Reading 14 Richmond A205 DartfordGravesend Clevedon M5 Calne 14 13 M4 A329(M) 13 HEATHROW A20 A2 2 Margate Corsham A350 20 A46 Hungerford 12 10 Bracknell Kingston A2 Rochester Herne BRISTOL Marlborough A4 Staines 1 Swanley 1 Bay Barry A4 11 upon Thames Gillingham A28 A4 Newbury 2 A38 Melksham A299 Congresbury A37 A232 Chatham Whitstable Weston- 11 Sutton Sittingbourne A253 Ramsgate super-Mare 21 Bath A361 Croydon 4 4 A28 A338 3 3 5 A2 Faversham BRISTOL Devizes Camberley M20 A227 A36 A34 M25 Epsom M25 A340 A22 2 4 A249 7 A257 A342 A338 10 6 Sandwich Kingsclere A33 4 Woking 9 3 6 M2 Canterbury A23 5 A2 A368 Trowbridge A339 A24 M26 7 A343 9 5 Cheddar A331 7 Caterham Leatherhead M25 SevenoaksA228 8 A2 A361 A3 A25 A371 A362 Basingstoke 5 6 Maidstone A20 8 A21 Deal Lynton A360 A345 6 Aldershot A323 A227 Westbury M3 Dorking A26 A339 RedhillOxted Burnham-on-Sea 22 A25 Reigate M20 A28 A256 Ilfracombe Lynmouth Minehead Frome Andover Whitchurch7 Guildford Tonbridge A274 A22 Farnham A31 A229 A39 A361 Warminster A24 A2 A39 8 M23 CHANNEL Watchet Wells Shepton A287 Godalming 9 A3057 TUNNEL A3123 Mallet A36 GATWICK Ashford TERMINAL Dover A303 Amesbury A303 9 East 10 A39 Alton Grinstead Tunbridge Wells A20 A361 23 Glastonbury A361 A264 A262 A39 A371 A39 A34 Crawley 10 A264 A343 A29 A21 13 A359 A338 A28 11 Bridgwater A2070 M20 12 A358 A30 A33 A396 A372 Cranbrook Street A345 M3 New Folkestone A37 Alresford A31 A264 Tenterden Barnstaple Haslemere 11 Hythe 24 Wilton A3 A26 9 A32 A22 A267 Wincanton Horsham A259 Salisbury Winchester A272 Liphook A281 Crowborough A303 A350 10 A283 A275 A28 A264 Langport 0 11 Billingshurst Haywards Bideford South Molton A36 9 A265 A268 New Romney Taunton 25 A30 30 Heath A272 A361 A (A31) A272 A358 A357 A30 A354 Romsey A272 A265 12 A23 A39 Petersfield Uckfield Shaftesbury Midhurst A273 Rye Wellington 26 A303 13 Eastleigh A29 Pulborough Great Torrington 14 Heathfield A21 Lydd/Ashford OPEN CONSENTED RETAIL PARK INVESTMENT Yeovil A275 HOME INVESTMENT LOCATION & RETAIL SITUATION TENANCIES ASSET MANAGEMENT PROPOSALA3088 A338 4 2 3 4 5 A286 Hurstpierpoint SUMMARY CATCHMENT WAREHOUSING & DESCRIPTION & PLANNING & COVENANTS & CONTACTS Sherborne A24 A22 Battle 27 Ilminster 7 A26 A28 A259 NEWQUAY ROAD RETAIL PARK, TRURO TR1 1XD IN TRURO 1 A334 A32 1 A283 SOUTHAMPTON 8 A3(M) A27Lewes A271 Hastings A31 Lyndhurst 9 3 HavantA27 Arundel HailshamA259 A337 M27 Ringwood 10 11 Chichester A27 SHOREHAM Brighton A27 Hythe 5 Bexhill- 12 A29 A259 Wimborne A31 Fawley Fareham 12 Littlehampton Hove on-Sea A350 Brockenhurst A22 A354 Minster Worthing Newhaven Crediton Gosport M5 A338 A35 A259 A30 Axminster Eastbourne A348 Lymington Portsmouth Bognor Seaford A31 Okehampton A35 Regis A388 A35 Cowes Ryde EXETER 29 Seaton Bridport New Milton Selsey 30 A3052 Dorchester Poole Christchurch A30 Lyme Bournemouth Newport Tintagel 31 A376 Regis Wareham Freshwater A352 Launceston Sidmouth A351 A382 A353 A3020 Sandown A39 A380 Exmouth A3055 Shanklin A388 Swanage Dawlish Weymouth Ventnor Padstow A30 Tavistock Teignmouth A38 Ashburton A390 Newton Abbot Bodmin A38 Buckfastleigh Liskeard A386 Torquay Newquay A392 A385 Paignton Saltash PLYMOUTH Totnes A391 A387 A3075 St Austell Looe Brixham Torpoint Plympton A30 A379 Dartmouth A390 Fowey A381 A379 TRURO Kingsbridge St Ives Redruth A3078 Salcombe Camborne A39 Hayle St Just Penzance St Mawes A394 A30 Falmouth Sennen Helston A3083 Lizard LOCATION CATCHMENT & DEMOGRAPHICS The cathedral city of Truro is the administrative and commercial centre for Cornwall. PMA estimate that Truro’s primary catchment area population is 416,000 people, ranking it 57 out of the 200 top PMA The city is situated 285 miles south west of London, 28 miles east of Penzance, centres in the UK. Truro also has an estimated shopping population of 218,000 people, ranking it 53. There are 131,646 people 11 miles north of Falmouth and 14 miles west of St Austell. living within a 20 minute drive time of the subject property, which CACI estimate will increase by 4.64% by 2017. Truro benefits from good road communications, being located 6 miles south of the A30, Given the lack of retail offer and competition from the surrounding towns, Truro provides the predominant retail offer in south and adjacent to the A390, which provides the major carriageway through the south of west Cornwall and as such draws upon a wide catchment area, including the nearby towns of St Austell, Camborne Cornwall. Both the A390 and A30 also provide direct access to Exeter and Junction 31 and Falmouth. of the M5 motorway, situated approximately 87 miles to the east. Retail expenditure in Truro is significantly above average, demonstrating the relative affluence of the area: Truro is served by a direct train service from London Paddington, with a journey time of approximately 4 hours 20 minutes. Newquay Airport is located 17.5 miles to the north Retail PMA Average Truro providing flights to several UK and European destinations. Top 200 Centres Total in-store comparison retail expenditure 2012 (£m) £945 £795 Per capita retail warehouse expenditure 2012 £478 £471 Per capita in-store comparison expenditure 2012 £2,270 £2,287 Forecast growth in comparison retail expenditure 1.6% 1.4% 2012 – 2017 (per annum % real) OPEN CONSENTED RETAIL PARK INVESTMENT HOME INVESTMENT LOCATION & RETAIL SITUATION TENANCIES ASSET MANAGEMENT PROPOSAL SUMMARY CATCHMENT WAREHOUSING & DESCRIPTION & PLANNING & COVENANTS & CONTACTS
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