Cheshire Retail Park handed £21.8m price tag
A retail park in Macclesfield, Cheshire has been brought to the investment market with an asking price of £21,785,000, reflecting a net initial yield of 5.75%.
Constructed in 2022, Barracks Mill Retail Park extends to approximately 79,112 sq ft and is supplemented by 325 car parking spaces.
The fully-let scheme is home to tenants including Aldi, M&S, B&M, Farmfoods, Costa, KFC, and BP Pulse, and has a weighted average unexpired lease term of 12.3 years to expiry and 10.9 years to break.
Aldi, M&S, and Farmfoods account for over half the scheme’s total passing rent of £1,337,970 per annum.
Barracks Mill Retail Park is situated alongside the A523, which provides access to Manchester to the north and Leek to the south, and sits adjacent to a Tesco Supermarket.
Other nearby retail provision includes Lyme Green Retail Park, Silk Road Retail Park, and a B&Q and Halfords cluster.
Macclesfield is an affluent market town that benefits from rail connections to Manchester and London and is in close proximity to the Peak District National Park. The town is experiencing continued residential growth, with a number of significant housing developments under construction or progressing through the planning process.
Rosebury Real Estate has been appointed to market Barracks Mill Retail Park.