Pirate FM News

Cornwall shopping centre is up for sale... for £10m

white river place 3

Published by Emma Carton at 9:09am 13th June 2019. (Updated at 9:14am 13th June 2019)

Have you ever fancied owning your own shopping centre? Well, now you can - but it will cost you!

White River Place in St Austell has gone on the market for £10 million.

Commercial investment company Allsop has described the site as having a lot of potential.

white river place 1
The White River Place shopping centre in St Austell has gone on the market for £10 million. Photo: Google Maps

What do we know about White River Place?

"A Dominant Community Shopping and Leisure Centre, constructed in 2009, providing purpose built mixed use accommodation totalling 16,543.9 sqm (178,077 sqft), arranged over 5 levels.

"The ground floor provides retail accommodation consisting of 28 units, arranged around a central courtyard and accessed via Fore Street (pedestrianised), Trinity Street and South Street.

"The upper floors provide a variety of retail and ancillary storage accommodation.

"The property includes an inter-connected multi-storey car park, accessed via Trinity Street, providing 550 space car park, on three subterranean floor levels with mezzanine levels.

"The Shopping Centre is modern and well-specified with limited landlord capital expenditure requirements at present.

"The Shopping Centre has attracted a wide array of National brands including Wilko, TK Maxx, Peacocks, Edinburgh Woolen Mill and Lloyds Bank".

Allsop

white river place 2
An investment company has described White River Place as having a lot of potential. Photo: Google Maps

What should potential investors consider?

The shopping centre is on the market through commercial investment company, Allsop.

It says the following investment opportunties should be considered:

  • Modern Dominant Town Centre Shopping Centre accounting for over 50% of St Austell retailing
  • Densely populated town within Cornwall with a county population of over 560,000
  • Strong annual footfall of 3.2 million visitors enhanced by numerous nearby tourist attractions
  • BREEAM rated ‘Excellent’ scheme (constructed in 2009) providing 28 retail and leisure units totalling 16,543 sq m (178,077 sq ft)
  • The scheme includes the main town centre multi-storey car park totalling 550 spaces
  • National brands include Wilko, TK Maxx, Peacocks, Superdrug, Costa and Lloyds Bank
  • Total Contracted Rent of £1,647,504 per annum
  • Net Operating Income of £1,207,095 per annum
  • WAULT of 4.32 years to expiry (3.14 years to break)
  • Numerous development opportunities to alternative uses, including residential, subject to necessary consents.

"The Shopping Centre provides the opportunity for the short term development of Unit D4.

"The first floor retail accommodation extends to 1,288.2 sqm (13,866 sqft)

"It lends itself to potential alternative uses including residential and office, subject to necessary consents".

Allsop

Allsop says it will consider offers in excess of £10 million pounds: Read More.

Contact Us

If you would like to submit a query or provide more information on this story please get in touch below.

Please wait...
  • Up to 3 JPG or PNG images, 2MB max size
  • We will always endeavour to credit you when we publish your pictures.
  • By uploading you are agreeing to this non-exclusive reuse, royalty-free, across all Pirate FM platforms, which extends to our partner broadcasters.
  • You retain copyright to all images.
  • If you would like to send us a video, please upload to YouTube or similar and paste the video URL into the message above.
Email Icon

Sign up for exclusive news, competitions and offers.
Proper Local News updates from Pirate FM

Pirate Extra Pirate 70s Escape LoveCornwall