South West retail asset handed £5.9m price tag
A retail-led asset in Clevedon, Somerset, has been placed in the market with a price tag of £5.9m.
The Triangle Centre comprises a neighbourhood shopping centre made up of two retail parades with 11 units as well as a self-contained office on the first and second floor.
The scheme provides a total of 59,000 sq ft of accommodation across a 3.34-acre freehold site, and is supplemented by a car park with approximately 167 spaces.
The asset is anchored by B&M with other retailers including Boots, Superdrug, Card Factory, and Bargain Booze, and has a weighted average unexpired lease term of 4.1 years to expiry and 3.9 years to break. The scheme produces a total passing rent of £597,775 per annum.
There are also a number of asset management opportunities following the granting of planning permission in 2022 for the redesign and extension of the scheme.
Clevedon is a commuter town located 12 miles south west of Bristol and 10 miles north of Weston-Super-Mare. It has a catchment population of almost 230,000 people living within a 20-minute drive.
Harvey Spack Field has been instructed to find a suitable purchaser.