Dronfield – Freehold Neighbourhood Retail Centre Investment
Dronfield Civic Centre, Units 1-14, Dronfield, S18 1PD
Offers in excess of £3,500,000
Just came across this on the allsop property consultancy site. There is a brochure you can download from the site with rent terms rates and expiry dates.
The rents vary greatly between the units from £10000 upwards to over £200000 for what used to be the co-op sublet by poundstretcher for £80000.
Some units have had free rent, others have options built in to opt out early I would imagine if the civic continues to decline this will lead to more empty units.
Then there are three charity shops paying nearly £84000 between them for the annual rent, thats around 18% of the total annual income and poundstretcher accounting for 47%. There two card shops paying at the moment £19000 between them then the DIY shop at £14000. What is clear is the charity shops surprisingly seem to be paying higher rents than some of the other vendors for similar shop floor space.
There seems to be a lot of inconsistency between the annual rent charged between the units and with four units empty at the moment where is the investment opportunity as a retail shopping destination.
Very soon the newsagents will be closing its doors in november that will be another £30000 shortfall in the potential income but this investment has been put forwards as the newsagents as a current ongoing vendor. The Forge in Dronfield is also currently for sale and appears to be under offer at just over £1 million. What is the future for the high street / retail shopping for Dronfield? What will be the best investment option for the Civic Centre.