East Midlands retail park handed £11.75m price tag
A retail park in Ilkseton in Derbyshire has been placed on the investment market with a price tag of £11.75m, reflecting a net initial yield of 7.75%.
Waterside Retail Park provides approximately 67,941 sq ft of retail accommodation across seven units, let to tenants including M&S, Iceland, Argos, Halfords, Poundland, Jollyes, and Poundstretcher.
The tenants have a weighted average unexpired lease term of 3.1 years and produce an annual passing rent of £971,788, equating to an average rent of approximately £14.30 per sq ft.
The scheme, which is positioned in close proximity to the M1, also benefits from 317 customer car parking spaces.
Ilkeston is a historic market town that has evolved into an important commuter hub for the
East Midlands. It is positioned eight miles west of Nottingham and 10 miles east of Derby, sitting at the heart of a dynamic regional belt drawing on a considerable and diverse regional catchment. Over 96,000 people live within a 10-minute drive time of Waterside Retail Park, with over 608,000 people living within a 20-minute drive time.
Rosebury Real Estate has been appointed to find a suitable purchaser.