Wilkinson Williamsn - Bretton Centre Peterborough Peterborough PETERBOROUGH Boulevard Retail Park 124,000

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Text of Wilkinson Williamsn - Bretton Centre Peterborough Peterborough PETERBOROUGH Boulevard Retail Park...

  • CENTRE BRETTON

    ENTER

  • Home InvestmentConsiderations

    INVESTMENT CONSIDERATIONS n Peterborough is the largest city in Cambridgeshire and

    as such is a dominant retailing location, benefiting from an extensive catchment area.

    n The city ranks 20th out of the top 200 PMA Retail Centres in terms of retail spend and total in-store retail expenditure.

    n The Bretton Centre is strategically located in close proximity to the A47, the main road through the city.

    n The property is a dominant scheme totalling 129,282 sq ft, anchored by Sainsbury’s, with other retailers including Boots, Sports Direct, Pets at Home, Laura Ashley, Poundland and Costa.

    n The scheme offers a unique tenant mix, including Sainsbury’s and a number of smaller occupiers, who with the adjacent occupiers of Iceland and Aldi, make it a popular convenience lead retail destination.

    n Well let with over 83% of the income comprising 5A1 D&B rated tenants.

    n Total income of £1,465,305 per annum, equating to a low average rent of £23.53 per sq ft for a scheme of this calibre.

    n Open A1 planning consent including food.

    n The scheme trades well, as evidenced by retailers renewing their leases, most recently Boots.

    n There are significant asset management opportunities, including several lease regears.

    n We are instructed to seek offers in excess of £18,935,000 (Eighteen Million, Nine Hundred and Thirty Five Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 7.25% (assuming purchaser’s costs at 6.74%).

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  • LOCATION Peterborough is the largest city in the county of Cambridgeshire, situated approximately 85 miles north of London, 35 miles north west of Cambridge, 41 miles east of Leicester and 43 miles north east of Northampton.

    The city is easily accessed via Junction 18 of the A1 (M), which connects to London to the south and Leeds to the north.

    By rail, Peterborough is a major stop on the East Coast Main Line, with a fastest journey time of approximately 40 minutes into London King’s Cross, making it an attractive place to live for commuters.

    East Midlands Airport is 60 miles north west of the city and London Luton Airport is 61 miles south, both providing flights to a large number of national and international destinations.

    M1

    M1

    M1

    A1(M)

    A1

    A1

    A1 A14

    A14

    A15

    A47

    A47

    A14M6

    Littleport

    Waterbeach

    Oundle

    Holbeach

    Bourne

    Oakham

    UppinghamOadby

    Blaby

    Chatteris Sawtry

    Whittlesey

    Godmanchester Brampton

    Rothwell

    Newmarket

    Ely

    King's Lynn

    Stamford Market Deeping

    Yaxley

    Melton Mowbray

    Wisbech

    Downham Market

    Spalding

    March

    Loughborough

    St Ives

    Huntingdon

    St Neots

    Rushden

    Kettering

    Wellingborough

    Market Harborough

    Wigston

    Daventry

    Coalville

    CAMBRIDGE

    Corby

    PETERBOROUGH

    NORTHAMPTON

    Leamington Spa

    Rugby

    Hinckley

    LEICESTER

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  • Peterborough’s primary catchment population is significantly above average at 716,000 people, which spans north into Lincolnshire, encompassing a number of small towns such as Spalding, Stamford and Market Deeping. Peterborough’s catchment borders those of Corby and Leicester to the west, King’s Lynn to the north east and Cambridge to the south- east. CACI calculate there are 125,427 people living within a 10 minute drive time of the subject property, increasing to 238,569 people within a 20 minute drive time.

    The estimated shopping population of Peterborough is 322,000 people, ranking the city 30th out of the top 200 PMA Retail Centres. Given the city’s distance from other large retail centres, a high proportion of the total available retail spend is likely to be retained. In addition, Peterborough draws trade from beyond its

    primary catchment area, particularly from small towns and villages to the north and east. Total in-store comparison retail expenditure was £1.861 million in 2016 in Peterborough compared with the PMA average of £947 million and ranking the city 20th by PMA.

    Peterborough also boasts a number of tourist attractions, including a Norman cathedral in the heart of the central shopping area. Visit England estimates that 330,000 domestic day visitors and 770,000 overnight visitors came to Peterborough in 2014, spending around £38 million.

    A1(M)

    PeterboroughPeterborough

    WhittleseyWhittlesey

    EyeEye

    CrowlandCrowlandMarket DeepingMarket Deeping

    StamfordStamford

    WitteringWittering

    OundleOundle

    YaxleyYaxley

    A605

    A47

    A16 A15

    A1

    A1

    A1

    A606

    A43

    A43

    A427

    A605

    A6121

    A47

    A47

    A15 A1175

    A1175

    A6121 20 mins20 mins

    Drive Time KeyDrive Time Key

    10 mins10 mins

    Home InvestmentConsiderations Location Catchment &

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    CATCHMENT & DEMOGRAPHICS

  • Peterborough is an established and dominant retail warehousing destination, with shoppers travelling from a wide area to shop here. The subject property provides a different offer to the majority of the retail parks in Peterborough; with the benefit of Sainsbury’s anchoring the scheme, and many smaller local operators, it provides a convenience based offer, as well as having the national footfall drawing operators such as Sports Direct, Boots, Laura Ashley and Pets at Home.

    SITUATION The Bretton Centre is situated on the western fringe of the city, approximately 2 miles to the north of Peterborough city centre. It lies between Soke Parkway (A47) and Bretton Way, the city’s prime ring road running through the city, which services North Bretton from Soke Parkway. As a result, the scheme is easily accessible.

    The scheme benefits from extensive frontage to Bretton Way, as well as frontage onto Flaxland Road and Rightwell East, on which a local bus service runs to the park, and also providing servicing access to the scheme.

    Adjacent to the scheme is a standalone Iceland unit, which can be accessed via the scheme, adjacent to the Laura Ashley unit. On the opposite side of the scheme, fronting Flaxland Road, is a new, standalone Aldi store. A number of office and retail units are also opposite the scheme.

    The Cresset Centre links to the subject property and houses a church and local library.

    The scheme is popular with shoppers, with many arriving by car, but the local bus also proves a popular method of transport to the park, with the bus stop situated close to the Domino’s and Carphone Warehouse units.

    A1(M)

    A1

    A1 13

    9 FR

    AN K

    PE RK

    IN S

    PA RK

    W AY

    A1139 F LETTON PARK

    WAY

    A1139 FLET

    TON PAR

    KW AY

    A15 PASTON PARKWAY

    A47 SO

    KE PA

    RKWA Y

    A4 7 S

    OK E

    PA RK

    W AY

    NENE PARKW AY

    RRINGTON PARKW AY

    LINCOLN ROAD

    Brotherhood Shopping Park 155,000 sq ft Tenants include: Marks & Spencer, TK Maxx, Poundland, Next, Tapi, Hobbycraft, Outfit, H&M, Harveys, Oak Furnitureland,

    Serpentine Green Shopping Park 319,000 sq ft Tenants include: Tesco, H&M, Next, M&S Simply Food, River Island, Game New Look, Toys R Us, Clarks, Outfit, Mothercare

    Peterborough P E T E R B O R O U G H

    Boulevard Retail Park 124,000 sq ft Tenants include: Dreams, Dunelm Currys/PC World, Office Outlet, Carpetright, Furniture Village, DFS

    Boongate Retail Park 85,000 sq ft Tenants include : B&M The Range, Smyths Toys

    BRETTON CENTRE

    Maskew Avenue Retail Park 145,000 sq ft Tenants include: B&Q, Argos, Matalan

    A4 7

    SO KE

    P AR

    KW AY

    A 47

    BR ET

    TO N

    W AY

    BRETTO N

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    BRETTO N

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    BRETTON GATE BRETTON GATE

    RIGHTWE LL E

    AS T

    FLA X

    LA N

    D

    FLAXLAND

    RIG H

    TW ELL W

    HARTWELL WAY

    H AR

    TW EL

    L W

    AY

    16 JCT

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