Chesterfield retail park hits market with £6m asking price
A retail park in Chesterfield has hit the market with a price tag of £6,000,000, reflecting a net initial yield of 8.5%.
Wheatbridge Retail Park extends to 52,944 sq ft and is fully let to Wickes, Carpetright, and Smyths Toys.
The asset has a weight average unexpired lease term of 9.3 years to expiry, with both Wickes and Carpertright having recently extended their leases, whilst Smyths recently signed a new lease. The retail park has a passing rent of £544,488 per annum, equating to an average of £10.28 sq ft.
The scheme – which sits on a 3.41 acre freehold site – is also supplemented by a 209-space car park
Wheatbridge Retail Park is located just west of Chesterfield town centre and sits in the town’s main retail warehouse pitch. It is situated close by to Ravenside Retail Park, Markham Retail Park, Spires Retail Park, and Lordsmill Street Retail Park.
Park Place Retail has been instructed to find a suitable buyer.