Templars Shopping Park, Oxford
138,500 sq ft shopping park in Oxford, anchored by a Sainsbury’s foodstore.
Templars Shopping Park was purchased with partners KKR in 2013 as part of the Tuscany Portfolio.
8.9-acre site in South East Oxford comprising 138,000 sq ft of open A1 retail accommodation with 467 car parking spaces. Key retailers at purchase included TK Maxx, Matalan, Asda Living, JD Sports and Halfords with agreement for lease in place with Sainsbury’s and Poundland.
Occupiers: TK Maxx, Matalan, Asda Living, JD Sports, Halfords, Sainsbury’s, Poundland, Pets at Home, DW Sports, Costa and Pure Gym
138,500 sq. ft.
£67m / 4.99%
Just the facts
Upon purchase the former B&Q unit was in the midst of redevelopment to be split into several units. We monitored the redevelopment and secured lettings to Sainsbury’s, Poundland, Pets at Home, DW Sports, Costa and Pure Gym at rents up to £32.50 per sq ft. We successfully widened the retailer and leisure offer to drive customer footfall and dwell time.
The park was sold fully let with an average weighted lease term of 10.9 years to Pramerica in January 2016 for £67m, representing a net initial yield of 4.99%.
As part of the B&Q redevelopment planning was secured for four houses at the rear of the service yard and the site was sold separately to a local house builder thus maximising returns.