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Borehamgate Shopping Centre, King Street CO10 2EG

Status: Sold

Date: 01 August, 2016

Type: Retail

Details: Download PDF

Borehamgate Shopping Centre, Sudbury

In August 2016, Joiner Cummings acted on the sale of the Borehamgate Shopping Centre, Sudbury to  Babergh Borough Council for £3.4m (9.00% NIIY)

  • Busy shopping centre and office/residential investment extending to 31,773 sq ft, comprising 16 retail units, 5 flats let on ASTs and 8,215 sq ft of offices.
  • Large 1 acre, strategic freehold holding located in a prominent position in the heart of the historic and affluent market town of Sudbury.
  • Situated between the key drivers of the town centre including Waitrose, the train/bus station and the prime retail core.
  • Location set to benefit from the proposed Hamilton Road scheme immediately to the rear.
  • Let to 30 tenants producing an income of £327,436 per annum.
  • Attractive WAULT of 2.8 years (1.9 years to breaks) with excellent potential to improve.
  • Excellent security of income from a diverse tenant mix.
  • Low average rental tone of £20 per sq ft Zone A providing excellent scope for growth.
  • Numerous asset management opportunities including re-gearing leases with existing tenants, converting further uppers to residential and letting vacant office suites.
  • Potential to release value through individual residential sales and by extending existing residential long leaseholds.