Retail

Pavilion Shopping Centre, Thornaby 

 

Price: £8,500,000

Date: Q2 2019

Acting on behalf of London & Cambridge Properties we advised on the purchase of this shopping centre investment for £8.5m from LaSalle Investment Management.

The Pavilion Shopping Centre comprises 228,806 sq ft of predominantly retail accommodation with a small portion of office floor space, anchored by a substantial Asda foodstore for a further 67 years. Other major retailers include Wilko, Home Bargains, Iceland, Boots, Poundstretcher, Greggs, Halifax, Barclays, Card Factory and Shoe Zone. Weighted average unexpired lease term of 15.9 years (to lease expiry) and 15.1 years (to break) producing a total gross income of £1,332,095 pax. The property is held leasehold from Stockton on Tees Borough Council for 150 years from March 2008, geared to 10% of gross revenue with permitted deductions.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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