Asset Type: Retail Warehouse
St Nicholas Gate Retail Park, Carlisle
Halfords Ltd, Oak Furnitureland Group Limited, Iceland Foods Ltd, B&M Retail Ltd, The Gym Ltd, Possfund Custodian Trustee Ltd and Poundland Ltd
Carlisle is the administrative centre for the county of Cumbria and lies approximately 60 miles west of Newcastle upon Tyne, 100 miles south of Glasgow and 120 miles north of Manchester.
The city has excellent road communications being strategically located 2 miles west of the M6, which is the main link road between Glasgow and Manchester. Junctions 42, 43 and 44 of the M6 motorway all provide easy access to the city centre. Carlisle railway station located close to the city centre is situated on the West Coast Main Line. The city has a population of 107,000 with few competing retail or commercial centres.
The subject property comprises a purpose built retail warehouse park extending to 108,440 sq ft. The park is situated to the south of the city centre and is predominantly configured as a single terrace with 2 separate standalone units. The park is let to B&M, Poundland, Iceland, Halfords, Oak Furnitureland and The Gym Ltd. We are also acquiring a 21 year reversionary interest in the 34,750 sq ft Asda foodstore. The intermediate interest is being retained by the vendor in their “long income” fund. The units are of steel portal frame construction with a brick elevations and profile steel panel roof. There are separate tenants’ entrance features and all have prominent retailer signage. The Asda and Poundlandhave terracotta cladding panels to the front elevations. The two main areas of the car park have recently been resurfaced and all the parking spaces are located to the front of the retail units. The scheme provides approximately 434 parking spaces, giving a good parking ratio of 1:250 sq foot GIA.