Burdwood Centre, Thatcham, Berkshire RG19 4YA

Local shopping parade with upper floor offices in desirable market town anchored by Co-Op Food

Located in an affluent area providing the primary convenience offering for the south of Thatcham, along with the adjacent medical centre and council offices

Ground floor retail units with first floor offices and an apartment (sold off LLH)

Total floor area of 9,098 sq ft on a site of 0.60 acres 60% of the total rental income is secured against Co-Operative Group Food Limited

Unit 1 let to Co-Operative Group Food Limited by way of a sale and leaseback

New 15-year unbroken FRI lease at £75,000 per annum (£22.82 psf)

Five yearly upwards only rent reviews linked to CPI annually compounded – collared and capped at 1% - 3% per annum

Strong tenant line up with a good mix of retailers including a pharmacy, food outlets, IT services, a gym, offices and a single apartment

Most of the tenants have been in occupation for 10 years or longer through multiple lease renewals

Several asset management initiatives including letting the vacant units and future redevelopment of the upper floors (STP).

30% of the rental income subject to lease events in the next 12 months

AWULT of 12.06 years to expiry (10.73 to breaks)

Total rental income of £123,400 per annum (£19.02 psf)

Estimated rental value of £157,958 per annum (£25.00 psf on the retail units and £12.00 on the first floor floor offices).

Freehold

Offers in excess of £1,645,000 (STC)

Net initial yield of 7.08%

Reversionary yield of 9.84% (2031), 10.63% (2036)

Capital value of £124 psf