Asda Stores | Manor Ln
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Asda Stores Manor Ln
73,230 SF Retail Building Shipley BD18 3RY $4,138,150 ($57/SF) 7.25% Cap Rate
Investment Highlights
- Asda superstore providing 73,230 sq ft (6,803.3 sq m) of supermarket retail accommodation
- The rent is geared to 1/5th of the full rack-rental value of the property, subject to 5 yearly upward only reviews
- Located in Shipley town centre, 3.5 miles to the north of Bradford city centre. The superstore forms an integral part of Shipley town centre
Executive Summary
The property comprises a purpose-built superstore along with a parade of retail units and accompanying surface and multi-storey car parks. The property provides a total Gross Internal Area of 73,230 sq ft (6,803.3 sq m) (according to VOA areas). The property also includes a smaller surface car park to the northwest of the main site located between Shipley Medical Practice and Shipley Swimming Pool and shown on the plan below. This car park provides space for approximately 32 cars and is included within the Asda lease summarised below.
The entire property is let on full repairing and insuring terms to Asda Stores Limited for the term of 125 years from 24 July 1988, thereby providing an unexpired term of 89 years.
The entire property is let on full repairing and insuring terms to Asda Stores Limited for the term of 125 years from 24 July 1988, thereby providing an unexpired term of 89 years.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Supermarket
Building Size
73,230 SF
Building Class
B
Year Built
1985
Price
$4,138,150
Price Per SF
$57
Cap Rate
7.25%
NOI
$300,016
Tenancy
Single
Building Height
2 Stories
Parking
530 Spaces (7.24 Spaces per 1,000 SF Leased)
Frontage
304 FT on Manor Lane
Amenities
- Signage
- Storage Space
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Nearby Major Retailers
-
James Yates -
Alice Gilman
-
Griff Lewis
-
Cushman & Wakefield
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Asda Stores | Manor Ln
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