Cambridgeshire retail park handed £13.6m price tag
A retail park in Wisbech, Cambridgeshire has been brought to the investment market with an asking price of £13,560,000, reflecting a net initial yield of 7.25%.
Constructed in 2014, Wisbech Retail Park extends to 85,675 sq ft and comprises 10 retail warehousing units, including a newly-added Costa Coffee drive-through unit.
Tenants at the scheme include Poundstretcher, OneBeyond, Iceland, Argos, Cancer Research UK, Sports Direct, Shoezone, The Norfolk Hospice, and B&M.
The retail park generates a total topped-up rent of £1,049,405 per annum, and has a weighted average unexpired lease term of four years to expiry.
It is also complemented by a 330-space car park.
Nearby retail complexes include The Peel Centre and Belgrave Retail Park, as well as standalone Wickes, Lidl, and Tesco properties.
The largest town in Cambridgeshire, Wisbech is a historic market town and serves as an inland port. It is a key commercial centre for the area with a number of satellite communities.
Knight Frank has been appointed to find a purchaser for Wisbech Retail Park.