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Cribbs Causeway is the 6th largest out-of-town retail cluster in the UK with a 2.1m catchment population.
Sited within the country’s 4th largest car dealership cluster; the property was built in the early 2000s and provides 15,698 sq ft on a 1.90-acre site.
Let to Honda Motor Europe Limited on FRI terms for a further 10.5 years with a guaranteed increase at the next rent review in February 2024 at a passing rent of £276,060 per annum (£17.58 psf).
In common with the wider car retailing market Honda is experiencing sales growth, with the Honda Civic reported as one of the best-selling models, and is Industry ranked better than average, with this dealership offering an opportunity for further sales growth.
The property was sold on behalf of AXA Investment Management in August 2023, for £4,350,000, to a property company.
Newbury Ford
Situated within the main car dealership motorpark in Newbury, along with Peugeot, Kia, MG, Volvo, and Volkswagen. With the Newbury Retail Park within walking distance which includes occupiers such as; McDonalds, Lidi, Tesco, PC World, Argos. M&S, Costa Coffee, and Boots.
The property built in the 1990’s provides showroom, office, workshop, and external space, totaling approximately 16,006 sq ft (1,487 sq m), on a site of 1.81 acres.
The property is let on an FRI lease to Think Ford Limited for a term of 15 years from 20th October 2016. Subject to 5 yearly reviews to RPI.
Think One Limited are a wholly owned subsidiary of Group 1 Automotive the UK’s 7th largest dealer group by turnover (Automotive Management online 2023 rankings). Operating from 82 outlets and employing over 3,000 staff.
The property was sold in October 2023 on behalf of London Metric for £2,750,000.
To find out more contact the team.