The Leggar Retail Park
BRIDGWATER | TA6 4AB
A Prime Convenience Retail Scheme ENTER with a Rare and Attractive WAULT of 11.7 years Investment Summary • Bridgwater is a large and established town in Somerset, • Current income of £585,468 per annum, averaging 28 miles south west of Bristol. £13.53 per sq ft. Proposal • Over 131,000 people living within 20 minutes’ drive of the • Total contracted rent to lease expiries of circa £6,600,000. We are instructed to seek offers in property. The town is to see significantly above average population growth to 2022. • Rare and attractive WAULT of 11.7 years with no break excess of £7,083,000 (Seven options. • The Leggar Retail Park, along with Bridgwater Retail Park, Million and Eighty Three The Clink Retail Park, Sainsbury’s and Asda, combine • Farmfoods have recently taken the final unit on a 15 year Thousand Pounds), subject to to form the dominant retail destination for the town’s lease, relocating from the neighbouring Bridgwater Retail significant catchment. Park. contract and exclusive of VAT. • A recently constructed convenience led retail scheme • Formerly Open A1 (including food) planning consent. totalling 43,256 sq ft let to Home Bargains, The Food Now Use Class E, under the recent changes to the Use This reflects an attractive Warehouse by Iceland and Farmfoods. The 26,867 sq ft Lidl Classes Order. net initial yield of 7.75% store is sold off on a long leasehold basis to the retailer. • All four units have an ‘A’ EPC rating. (assuming purchaser’s costs of 6.65%). • Home Bargains and The Food Warehouse have remained open during the COVID-19 pandemic, reporting strong • 5.92 acres, site cover of 27%. trading and have been meeting their rental obligations. Farmfoods are currently on-site fitting out their store. • Freehold.
• All four tenants are classified as ‘Essential Retailers’ and are significant footfall drivers.
INVESTMENT LOCATION / AERIAL RETAIL WAREHOUSE DESCRIPTION / TENANCY / PROPOSAL / SUMMARY DEMOGRAPHICS PROVISION TENURE / COVENANT STRENGTH FURTHER PLANNING INFORMATION A4042
A465 A48 A419 Aberdare A449 Cirencester Pontypool Llanelli Neath Swansea Chepstow M5 A419 B M48 O A470 A433 WESTERN W Port Talbot Pontypridd WA Caerphilly Newport Y R W L Swindon N H M49 A429 I M4 TF M4 C I Bridgend H L CARDIFF M5 M32 I L Porthcawl R M5 T Chippenham O T N Clevedon BRISTOL A46 A350 H
T S E Barry A4 R T D IN R A38 O A37 Melksham IT V Weston- Bath A E BRISTOL U super-Mare Devizes W
A36
A Trowbridge
The Leggar D A361 R R L A Ilfracombe Burnham-on-Sea Retail Park G O T Minehead Frome Y G S D A I A361 Warminster L R R H W T B A A36 G H B A303 R Bridgwater T E 23 A361 B B Retail Park B A39 P O 3 Bridgwater A338 M A W 3 O R W A37 3
H K R Barnstaple 9 TH CLINK 24 H
W L I N
V A T The Clink T
A303 A350 F M5 A S I Bideford L Retail Park H L Taunton A361 A C A358 A354 R R A303 N L HU A3088 C 8 Yeovil A338 A386 3 A377 A
A303 S Tiverton Town Centre T J M5 OHN M5 ST A30 A31 R BRI GWAT R A37 A350 N A354 O Y B BR A A338 M O W A A30 A348 W A AD 3 A31 W O 7 A35 R A35 Bridport Poole A B Exeter Dorchester W E Sidmouth Bournemouth ST A376 ON O YLA A380 N Exmouth D RD Weymouth A37 Dawlish Teignmouth A38
A386 Location Demographics Bridgwater is a large and established town in Somerset PROMIS states that the town has a primary catchment The two highest socio-economic groups within the 20 minute located within the Sedgemoor District. The town is located population of 70,000 people and is due to see significantly catchment are Country Living (13.4%) who are well-off 12 miles north of Taunton, 28 miles south west of Bristol above average growth in population over the next few years to homeowners in rural locations and Aspiring Homemakers and 27 miles north west of Yeovil. The town benefits from 2022. Experian provides that approximately 131,105 people (13.1%) often younger households in full time employment, excellent road communications, with Junctions 23 and 24 of live within 20 minutes’ drive of The Leggar Retail Park. settling down in starter homes. Both of these categories have the M5 Motorway being within 1 mile to the north and south higher than average levels of disposable income. Spending habits of the Primary Retail Market Area, per capita of the town. In addition, the A38 and A39 intersect in the total retail spending levels, are above the PROMIS average town and provide easy access into the wider catchment. (CACI). The level of car ownership is significantly above The town’s main railway station is situated less than half a average at 81% of households, with a particularly high mile to the south east of The Leggar Retail Park and provides proportion of multiple car ownership. Spending habits of the Primary mainline rail services via Taunton to London Paddington, Retail market Area, per capita, are with a journey time of just over 2 hours. above the PROMIS average
INVESTMENT LOCATION / AERIAL RETAIL WAREHOUSE DESCRIPTION / TENANCY / PROPOSAL / SUMMARY DEMOGRAPHICS PROVISION TENURE / COVENANT STRENGTH FURTHER PLANNING INFORMATION The Leggar Retail Park, along with Bridgwater and The Clink Retail Parks, Sainsbury’s and Asda, combine to total over 350,000 sq ft and form the dominant retail destination for the town’s extensive catchment area.
THE LEGGAR RETAIL PAR
BRIDGWATER RETAIL PAR
THE CLIN THE CLIN RETAIL PAR THE LEGGAR