Castleford Carlton Lanes Shopping Centre, Castleford, West Yorkshire

Description

Prominent town centre shopping centre extending to 8,945.37 sq m (96,287 sq ft). Tenants include Iceland, Ryman, Boots, Card Factory, Peacocks, Warren James, TUI, Hays Travel, 3 Store, Ramsdens, CEX and The Works. Occupies a total site area of 1.72 ha (4.251 acres). Benefits from two car parks on Aire Street and Bridge Street. Represents a prime pitch in Castleford and is adjacent to the popular market. Asset management opportunity. VAT is applicable. Gross initial yield: 16.39%.

Accommodation

Shopping centre extending to 8,945.37 sq m (96,287 sq ft), with 19,031 sq ft of vacant retail space. Total site area: 1.72 ha (4.251 acres).

Location

Castleford is a market town located 11 miles south-east of Leeds and 24 miles south-west of York. The town has good road communications, being adjacent to the M62 Motorway (Junction 32), which provides access to the A1(M). The property is situated in the heart of the town centre, on the south side of the pedestrianised Carlton Street, close to its junction with Bridge Street and Station Road. The centre is adjacent to the popular market.

Tenure / Property Information

Investment Analysis

Large freehold town-centre shopping-centre investment extending to 96,287 sq ft, with 19,031 sq ft stated vacant space, multiple named occupiers and two car parks. The guide is £5M+ and the description quotes a 16.39% gross initial yield, but no passing rent schedule, lease terms, tenant covenant information, exact purchase price or comparable sales are supplied. A supported GDV, total cost, refinance value or maximum bid cannot therefore be established. VAT applies and further seller or third-party charges may be payable.

Investment Snapshot

Strategy Recommendation

Proceed only with specialist commercial due diligence and a complete income, lease, vacancy, VAT, service-charge and cost review. Do not set a bid from the supplied evidence alone.

Works Required

No specific physical defects or refurbishment requirements are evidenced. The stated asset-management opportunity appears principally to involve addressing the 19,031 sq ft vacant retail accommodation and reviewing occupational income, leases and tenant retention; costs cannot be estimated from the supplied evidence.

Rental & Market Context

Potential BRRR Position

A BRRR analysis is not supportable from the evidence. The centre is commercial, has stated vacant space, and lacks a verified income schedule, lease details, refurbishment budget, valuation or lending assumptions. Refinance proceeds and cash left in are therefore unavailable.

Buy-to-Let Analysis

This is a commercial shopping-centre investment rather than a residential BTL asset. The supplied £1 pcm and £2,083 pcm figures are advertised asking rents for individual listings and cannot establish the centre's passing or achievable total rent. The quoted 16.39% gross initial yield cannot be independently recalculated because the rent schedule and exact purchase price are unavailable.

Flip Analysis

A flip or resale surplus cannot be calculated because no evidence-supported GDV, acquisition price above the £5M+ guide, works budget, selling allowance or transaction-cost schedule is provided. The quoted yield is not sufficient to establish resale value.

Investor Risks & Due Diligence

• 19,031 sq ft of stated vacant retail space creates leasing and income risk.

• No passing-rent schedule, lease terms, expiries, arrears or tenant covenant information is supplied.

• The 16.39% gross initial yield is an auctioneer-provided figure and cannot be independently verified from the evidence.

• The guide is £5M+ rather than an exact purchase price, preventing reliable yield and total-cost calculations.

• VAT applies, with additional seller or third-party charges potentially payable.

• No physical-condition, EPC, service-charge, business-rate or capital-expenditure information is supplied.

• Commercial shopping-centre demand and reletting risk are not evidenced beyond the location description.

Recommendation

Proceed only with specialist commercial due diligence and a complete income, lease, vacancy, VAT, service-charge and cost review. Do not set a bid from the supplied evidence alone.

Strategy Rating

Analysis Confidence

The evidence confirms scale, tenure, occupancy status, named occupiers, stated vacant space, guide wording and a quoted yield, but omits passing rents, lease terms, exact consideration, costs, condition, valuation evidence and comparable sales.