New Market Sq
Basingstoke RG21 7BE
Festival Place · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Basingstoke is an affluent, popular and thriving London commuter town in the county of Hampshire in the South East of England.
- Strong WAULT of 5.79 years to expiry and 4.36 years to break.
- Key anchor tenants include Marks and Spencer, Next, and H&M, with other key occupiers including Superdrug Sports Direct, TK Maxx and Apple
EXECUTIVE SUMMARY
Basingstoke is an affluent, popular and thriving London commuter town in the county of Hampshire in the South East of England.
The number one digital economy outside of London, Basingstoke attracts inward investment and a highly skilled and diverse
workforce and residential population.
Festival Place is held on a Long Leasehold from Basingstoke and Deane Borough Council, with approximately 229 years remaining.
Vacancy of 20% of floor area with significant asset management potential to drive increases in occupation and income.
Total Gross Income of £17,978,387 per annum.
Net Operating Income of £11,665,221 per annum, after deductions of Landlord shortfalls and non-recoverable contribution to marketing
The number one digital economy outside of London, Basingstoke attracts inward investment and a highly skilled and diverse
workforce and residential population.
Festival Place is held on a Long Leasehold from Basingstoke and Deane Borough Council, with approximately 229 years remaining.
Vacancy of 20% of floor area with significant asset management potential to drive increases in occupation and income.
Total Gross Income of £17,978,387 per annum.
Net Operating Income of £11,665,221 per annum, after deductions of Landlord shortfalls and non-recoverable contribution to marketing
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Long Leasehold
Property Subtype
Retail
Building Size
1,127,629 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1966/2017
Percent Leased
99%
Tenancy
Multiple
Building Height
6 Stories
Parking
2,500 Spaces (2.22 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Banking
- Bus Line
- Food Court
- Freeway Visibility
- Mezzanine
- Property Manager on Site
- Restaurant
- Security System
- Wheelchair Accessible
- Storage Space
- Car Charging Station
- Monument Signage
- Air Conditioning
- On-Site Security Staff
