BELLE VALE SHOPPING CENTRE, LIVERPOOL, L25 2RF
- A covered shopping centre providing 257,165 sq ft of retail and leisure accommodation
- Belle Vale Shopping Centre is the only scheme in the town
- Strong community and neighbourhood convenience led scheme
- Key retailers including Wilko, B&M, Home Bargains, Boots and Iceland
- McDonalds drive-thru restaurant is prominently situated on Childwall Valley Road
- Adjacent to a 73,000 sq ft Morrisons food store
- Benefits from three leisure anchors
- The scheme benefits from positive tenant trading with 12 lease renewals and re-gears in the last 12 months
- Long leasehold of 999 years from May 2002 at a fixed base rent of £165,000 per annum
- Annual footfall of approximately 3 million per annum
- Weighted Unexpired Lease term of 4.17 years to expiry and 3.37 years to break
- Re-based rents of £25-30 Zone A and affordable all in unit costs
- 78% of the income secured to national multiple tenants
- Secure and well diversified income play
Seeking offers of £13,000,000 subject to contact and exclusive of VAT.
|Net Initial Yield||10.04%|
|Capital Value per sq ft||£43.82|
Belle Vale shopping centre provides 257,165 sq ft of retail and leisure accommodation trading over ground floor only. The mall is arranged in a linear configuration with one principle mall running south to north to Childwall Valley Road.
The shopping centre has 57 retail units, 3 leisure units and a drive thru-restaurant. The scheme is anchored on a 41,432 sq ft Wilko and 26,127 sq ft B&M, and also benefits from being located directly adjacent a 73,000 sq ft Morrisons food store which provides the principle supermarket for the town centre.
Key national multiple retailers include Home Bargains, Superdrug, Iceland, Farmfoods, Boots, Holland & Barratt, Argos and New Look. Food and beverage operators are represented by Greggs and a prominently located McDonalds drive-thru restaurant. In addition the upper level of the scheme provides three large units with a 33,000 gym, indoor children’s play area and Laser Quest.
The scheme provides the principle retail provision for the district driving the consistent footfall of approximately 3 million per annum.
The scheme benefits from adjacency to Belle Vales principle surface car park, as well as the schemes own roof top providing a total of over 1,000 spaces, and offering free shopper spaces.
Belle Vale is a residential suburb located 6.6 miles (11 km) from Liverpool city centre.
The town has a primary catchment population of 74,399 and a shopper population of 18,884 people within a 10 minute drive time.
Belle Vale Shopping Centre is held long leasehold from Liverpool City Council for a term of 999 years from 17th May 2002 to 16th May 3001.
The ground rent is calculated as the higher of 12.39% of net rents received less permitted deductions or the base rent of £165,000 per annum.
- A strong and diversified income profile with 78% of the income secured against national multiple tenants.
- The scheme benefits from a low vacancy rate of 10%, and positive tenant trading with 12 lease renewals and regears in the last 12 months.
- Re-based rents of between £25 - 30 Zone A providing affordable all in unit costs for retailers.
- Average weighted unexpired lease term of 4.17 years to expiry and 3.37 years to breaks.
The income breakdown is as follows:
|Net Operating Income||£1,394,549|
|Gross Rental Value||£1,774,104|