Greater Manchester retail asset hits the market
A retail, leisure, and office development in Bramhall, Greater Manchester, has been placed on the market with a price tag of £8.79m – representing a net initial yield of 7.75%.
Village Square comprises of 55,900 sq ft of predominantly retail accommodation with leisure and office space arranged over the first floor.
The centre is arranged across three separate blocks around a central square, which contains a children’s play area and outdoor seating.
The asset – which generates an income of £726,725 per annum – is 99% occupied and benefits from a mixture of local, regional, and national operators with anchor tenants including Boots and Trek Cycles.
The freehold scheme, which sits on a two-acre site, is also supplemented by 75 ground level level car parking spaces.
Bramhall is an affluent commuter village in Stockport, located approximately 10 miles south of Manchester. Bramhall Train Station provides a regular service into Manchester Piccadilly and direct connections to London Euston via Stockport Mainline Train Station.
Other retailers in close proximity to the asset include Sainsbury’s, Tesco Express, Costa, and Superdrug.
Wain Estates, which owns Village Square, has appointed CBRE to find a suitable buyer.