Shaw Ridge Leisure Park, Swindon

POA



Full Description

The property comprises a regular shaped site extending to 13.7 acres, upon which has been built a 100 bed Village Hotel, Pizza Hut (planning in for change of use to a McDonald’s), a 6 screen Cineworld, Ten Pin Bowling Centre and two bar/restaurants, in addition to substantial car parking.
The entire property is let to Shaw Ridge Leisure Park Management Company Ltd on a 125 year lease from 22nd August 1989 at a passing rent of £124,000 per annum, paid yearly in advance.
There are 4 shareholders in Shaw Ridge Leisure Park Man Co Ltd, these effectively control, via long sub leases,The Village Hotel, Pizza Hut site, Raj Restaurant and the largest shareholder has a sub lease of the Ten Pin Bowling, Cineworld and Ridge Bar & Grill sites.
Rent reviews are 5 yearly. The next rent review is 22nd August 2029. Rent is assessed by a formula, based a percentage of rent paid for a notional new hypothetical office building extending to between 10,000 sq ft and 160,000 sq ft, with a tenant taking a 25 year lease.

Location
The scheme is situated approximately 2 miles west of Swindon town centre, at the junction of Whitehill Way with Tewkesbury Way. The property is accessed directly off Whitehill Way (A4534), which leads to Junction 16 of the M4, 1.5 miles to the south west.
The scheme sits immediately opposite the West Swindon District Centre comprising a 102,000 sq ft Asda Superstore, circa 60,000 sq ft of additional retail including McDonalds, Greggs, Costa and Betfred, Public House, offices, and also includes The Link Centre, comprising Ice Rink, Trampoline Park, Gym, Swimming Pool and outdoor 3G pitches. The surrounding areas comprise densely populated suburban residential housing.

Features


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