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Drakehouse Retail Park is situated in Sheffield, South Yorkshire, 7 miles southeast of the city centre along the A57, providing easy access to M1 junction 31. The property features 17 retail units totaling 232,358 sq ft GIA, including mezzanine levels and two drive-thru units, on a 17.5-acre site with 784 parking spaces at a 1:296 sq ft ratio. As Sheffields largest retail park, it draws 1.6 million annual visitors and forms part of an established out-of-town destination with over 1 million sq ft of nearby retail space.
Tenant mix emphasizes durable goods and home sectors, with anchors like Wickes (garden centre), B&M, Pets at Home, Currys, JD Sports, Halfords, and Starbucks, alongside Furniture Village, Smyths Toys, and TUI. This aligns with catchment spending, where durable goods outpace the UK average by 10%. Occupancy stands at 88.7% by floor area, with tenants averaging over 10 years in situ and a WAULT of 6.2 years.
Passing rent totals £3.8 million annually at £16.34 psf average, supported by low-risk tenants (Creditsafe average 81.3/100).
Leasing advantages include flexible Class E accommodation, recoverable service charges (£1.19 psf), and potential for re-gearing or ESG upgrades like EV charging. The park captures 74.5% of the £833.6 million catchment retail spend. However, challenges encompass tenant administrations (Carpetright), lease breaks in 2027, and competition from adjacent parks. Currently marketed for over £50.75 million at 7% net initial yield.
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Hours of Operation
Hours
| Monday | 08:00 AM — 08:00 PM |
| Tuesday | 08:00 AM — 08:00 PM |
| Wednesday | 08:00 AM — 08:00 PM |
| Thursday | 08:00 AM — 08:00 PM |
| Friday | 08:00 AM — 08:00 PM |
| Saturday | 08:00 AM — 08:00 PM |
| Sunday | 10:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Catchment Demographics
The 20-minute drivetime area includes 585,030 people in 248,010 households, expected to rise 7% by 2033. Sheffield metropolitan borough has 1,569,000 residents, growing to over 2 million in five years. Average household income is £37,846, with 65.9% home ownership, 72.6% car access, and 70.4% economic activity. Annual durable goods spend reaches £1,135 per capita (10% above UK average), and house & home spend is £279 per capita, bolstering retail park viability amid regional growth in manufacturing and digital sectors.
Competitive Landscape
Drakehouse represents 33% of Sheffields primary retail park stock but competes with Meadowhall Retail Park (210,000 sq ft; The Range, Smyths Toys), Kilner Way (177,000 sq ft; Dunelm, TK Maxx), and nearby Crystal Peaks schemes (720,000 sq ft total, including shopping centre with 11 million visitors). The cluster handles 74.5% of £833.6 million catchment expenditure, yet durable goods saturation and online competition may constrain growth. Synergies from adjacency enhance footfall, though aging units in rivals highlight infrastructure risks.
Occupancy and Lease Terms
Occupancy covers 88.7% of floor area with long-term tenants (WAULT 6.2 years to expiry, 4.5 to break). Passing rent is £3.8 million at £16.34 psf, with upward-only reviews and full service charge recovery (£1.19 psf). Most tenants score low risk, but vacancies like Carpetright (administration; re-letting in progress) and We Buy Any Car (expired; renewal talks) exist. Temporary half-rents for SCS and Sports Direct end 2024-2025, while 2027 breaks for Wren Kitchens and others introduce re-leasing risks in a stable but selective market.
Building Details
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Sheffield
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City Snapshot
Sheffield
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