City - Lincoln is an attractive and historic cathedral city, and is the administrative centre of the county of Lincolnshire.
Place making - Valentine is one of the leading retail destinations in the city, with a strong furniture, convenience and comparison retail offer.
Captive catchment - there is a captive catchment, with the nearest main shopping competition being over an hour’s drive away. Total catchment population of 582,966 people.
Large footfall - annual footfall estimated at 2.4 million.
Modern floor space - a resilient and continually evolving retail offer utilising the scheme’s flexible layout with a further improvement to the scheme currently on site.
Strong trading profile - consistently robust trading performance.
Institutional income stream - secured from strong covenants including Next, TK Maxx, Asda, DFS, Costa and Hobbycraft, with a low average rent of £22.11 per sq ft and a WAULT of 8.3 years to expiry and 6.4 years to break.
Further potential - potential for further value enhancement with flexible store layout and scope for further units to be created.
Price - a price is sought of £46,300,000, reflecting an attractive net initial yield of 5.96%, after allowing for purchaser’s costs of 6.78%.