Milsom Place, Bath
Unique opportunity to purchase Bath’s premier retail & restaurant destination
A unique opportunity to purchase a large estate in central Bath, where the majority of the commercial core ownership is held by just 5 major landlords. Bath is ranked the 3rd strongest retail centre in the UK by PROMIS based on property requirements. This was the best leisure block to be marketed in 2014.
New lettings were secured before sale, to Burger & Lobster, CAU and Colonna & Hunter to complement the existing tenant lineup which includes Carluccio’s, Cath Kidston, Côte, Hobbs, Phase Eight, Jamie’s Italian and YO! Sushi.
Offers were sought in excess of £23,340,000 (Twenty Three Million Three Hundred and Forty Thousand Pounds) The price achieved was £26.1m after multiple rounds of bids.
Milsom Place is located at the heart of the fashionable Milsom Area, widely regarded as Bath’s smartest shopping and dining destination and is bounded by Milsom Street, Green Street and Broad Street. The series of beautiful Georgian, Victorian and Edwardian buildings, terraces and open courtyards connect seamlessly into the adjoining sloping streets. They provide a natural link from Milsom Street through to High Street/ New Bond Street, Broad Street, the Artisan Quarter and River Avon, Waitrose Food & Home and the main car park at The Podium.
The L&R Group is a private group of companies whose directors, unusually, have extensive previous experience in the ownership of retail, catering and other leisure businesses, as well as their current property interests. The L&R Group specialises in the creation and management of new destinations within sensitive, complex and historic town centres. Their particular brand of development has involved discovering and opening up new routes and frontages and the refurbishment and integration of listed buildings to create one-off, retail-led environments.
Please contact Harry Wills or Jack Barratt.