Key Features

• Eastleigh is an affluent, popular town in the county of Hampshire in the South East of England.
• The Swan Centre dominates the town centre, extending to 324,126 sq ft over 7.84 acres.
• Key anchor tenants include TK Maxx, Sports Direct, Boots, and H&M alongside the successful leisure element of the scheme anchored by a 6-screen VUE and Hollywood Bowl.
• Held on a Long Leasehold from Eastleigh Borough Council with 113 years unexpired at 15% of net rents with a base rent of £279,000 pa.
• 54% of the total gross income is secured against the top 10 tenants in the scheme.
• Footfall of 4.9 million in 2025.
• WAULT of 5.04 years to expiry and 4.08 years to break.
• 85% of income is secured against national covenants.
• Total Gross Income of £2,332,544 per annum and NOI after shortfalls and non-recoverable of £1,354,623 per annum.
• Scheme benefits from over 800 on-site car parking spaces operated by the Council.
• We are instructed to seek offers in excess of £10,800,000, exclusive of VAT and subject to contract. This reflects a Net Initial Yield of 11.75% assuming standard purchaser’s costs of 6.70% and a capital value of £33 per sq ft.