KINGS ROAD BRIDGWATER - New Convenience Store Development with over 80% of the income Let to Tesco Stores Limited - MacLaren & Partners
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KINGS ROAD
BRIDGWATER
SOMERSET TA6 4GZ
Computer Generated Image
New Convenience Store Development with over
80% of the income Let to Tesco Stores Limited
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZ
AERIAL VIEW
To EXETER
To BATH
A39
BRIDGWATER
M5 Motorway
To BRISTOL
THE SITE
A38
April 2020
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZ
LOCATION
Bridgwater is located between junctions 23 and 24 M5
of the M5 motorway, which lies to the east of the (Junction 23)
conurbation and giving direct access to Bristol to
the north and Exeter to the south. E xpre ss
Par k
THE SITE
Taunton (by M5) 10 miles CHILTON H OR LE Y
TRINIT Y
Weston-super-Mare 17 miles
A 38
Bristol (by M5) 37 miles
Bath 38 miles
ROAD
Exeter (by M5) 42 miles rr e tt
r Pa
Bridgwater
ve
Ri
OL
Hospital
This part of North West Somerset is undergoing
39 M5
BRIST
A
Y
WESTERN WA
significant change and growth with considerable A
D
O
commercial and residential development. R
EAST BOWER
TH
TH
A
DR
E
B
OV
E
Y
WA
G
ER
MB
CR OWPILL S YD E N H AM
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Bridgwater
ASDA & Taunton
College
AY
DW
NOR THFIELD ST
OA
TOWN CENTRE JO
NO H NS
BR
Q UA RT
H
TR
EE
T
BRIDGWATER
N TO
C K R OA ST
D
B R O A D W AY A3
72
N Z O YLA N D
W E S TO
Morrisons
R O AD
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZSITE LOCATION PLAN
HCA
THE SITE
Barratt
David Wilson
Future residential
Persimmon
development
Taylor Wimpey
Persimmon
Areas under HLM control
Primary School
Areas Maintained by Estate Rent Charge
Residential Areas
NB: Rhynes are to be managed by ERC contribution.
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZGr-Cr Sp
THE SITE
KINGS ROAD
Site Area (red d
Track BT Tarmac 2440 sqm - 0.60
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Unit 1 7.84
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7.70
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6.30 Unit 2 Car Park
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+6.31 4000 sqft 18 spaces
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Project:
TT TT
Bridgwater Mixed
Use Development
MH Sign
Lp Drawing title:
10.56 Lp
IB
Proposed Site Plan
Lp Tarmac
Bg Lp
CTV 9.29 BT
Drawing number: D
1949-102
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KINGS ROAD | BRIDGWATER
P +8.44
P\R S
0.5 | SOMERSET TA6 4GZ
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D
Proposed Site Plan 0m 5 10 15 20 25
This drawing and the building works depicted are the
Ltd and may not be reproduced except by written per
and checked against any specialist drawings and info
this drawing when using this for construction purpoSUMMARY OF THE OPPORTUNITY
1.0 THE SCHEME 4.0 TIMING
UNIT 1 4,000 sq ft - Heads of Terms agreed with Tesco Stores Limited • Planning Consent expected by December 2020
• 15 year term • Start on site February 2021
• 10 year tenant only break • Practical Completion August 2021
• Annual rent of £66,000 per annum
• Rent reviews every 5 years, to CPI with a cap and collar 5.0 PROJECT MANAGERS / CONTRACTORS / COST PLAN
of 0 - 2.5% compounded annually
• 9 month’s rent free period (topped up for the Funder) • Project Managers Baker Ruff and Hannon
• Unit to be handed over in line with Tesco Express Shell Specification Nigel Marsh, Partner
T : 01823 251356 M : 07770 754165
UNIT 2 900 sq ft - Target Rent £15,300 per annum £17 per sq ft E : nmarsh@bakerruffhannon.co.uk
W: www.bakerruffhannon.co.uk
2.0 LOCATION
• Contractors Yet to be appointed
The development occupies a prominent trading position being highly visible from
both Kings Drive and Kings Road, the main arterial routes within this commercial 6.0 PROFESSIONAL TEAM
and residential location in Bridgwater.
• Architects West Hart Partnership Ltd.
Further information on housing starts can be provided upon request with Taylor 5 Aldergate, Tamworth, Staffordshire B79 7DJ
Wimpey and Persimmon developing most of the available plots. D 01827 211702 T: 01827 67123 Ext. 212
E: chris@westhart.com
3.0 PLANNING W: www.westhart.com
The overall scheme has an outline planning consent for circa 1000 residential units • Engineers Brookbanks Consulting Ltd
and employment uses. The proposed local centre is within the employment parcel and T : 0121 329 4330
a new Outline is due to be issued for that parcel which will include 57 residential units E : Matt.Mitchell@brookbanks.com
and the local centre, it will be a s106 condition that the local centre is delivered. W : www.brookbanks.com
Pre application discussions have taken place with Sedgemoor District Council, 7.0 SITE INVESTIGATION / SURVEYS
who have approved in principle, the location and orientation of the local centre
and a reserved matters application is to be submitted imminently. A site investigation has been commissioned and will be available pre-exchange.
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZTENANCY SCHEDULE
PROPOSAL
8.0 PROPOSAL
A forward funding of this opportunity is sought on the basis of a land purchase
of £190,000, which includes £50,000 of WIP, with a further 7 interim payments
and a final balancing payment at Practical Completion.
Upon this traditional funding structure and assuming a rent roll on the
completed scheme of £81,300 per annum and a 50:50 share of the SDLT saving
would give a maximum commitment to the investor of £1,353,400 and a net
running yield of 5.8% after purchase costs of 1.8%.
Subject to Contract.
Duncan MacLaren MRICS
duncan@maclarenpartners.co.uk
D 020 7317 3132
M 07770 648 755
W www.maclarenpartners.co.uk
KINGS ROAD | BRIDGWATER | SOMERSET TA6 4GZCONTACT
For further information please contact
Duncan MacLaren MRICS
duncan@maclarenpartners.co.uk
D | 020 7317 3132
M | 07770 648 755
W | maclarenpartners.co.uk
MacLaren & Partners for themselves and for the vendors or lessors of this property for whom they act, give notice that: (i) these particulars are a general outline only, for the guidance of prospective
purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) MacLaren & Partners cannot guarantee the accuracy of any description, dimensions, references to
condition, necessary permissions for use and occupation, and other details contained herein, and prospective purchasers or tenants must not rely on them as statements of fact or representations,
and must satisfy themselves as to their accuracy; (iii) no employee of MacLaren & Partners has any authority to make or give any representation or warranty or enter into any contract whatever in
relation to the property; (iv) rents, prices, premiums and service charge quoted in these particulars may be subject to VAT in addition; and (v) MacLaren & Partners will not be liable, in negligence or
otherwise, for any loss arising from the use of these particulars. July 2020 Produced by creativewiredesign.co.ukYou can also read
