Hereford retail park handed £6.1m price tag
A retail park in Hereford has been placed on the market with a price tag of £6,100,000.
Brook Retail Park on Commercial Road is located on a main arterial route into the city centre and is surrounded by key commercial uses including Hereford Rail Station, a student hall, and Hereford County Hospital.
The food-anchored retail warehouse comprises two terraces and extends to a total ground floor area of 32,922 sq ft. The scheme is fully let to Lidl, Pets at Home, and Poundstretcher, with all tenants having regeared in the last three years with an average rent of £13.34 per sq ft.
The asset benefits from a weighted average unexpired lease term of 15.2 years to expiry and 9.2 years to break.
The asking price of £6.1m reflects a net initial yield of 6.75%.
Edgerley Simpson Howe has been instructed to find a suitable buyer for Brook Retail Park.