Merseyside retail park handed £50.7m price tag
A retail park in Wallasey, Merseyside, has been placed on the market with an asking price of £50.7m, reflecting a net initial yield of 6.0%.
Located on the Wirral, Junction One Retail Park comprises 190,874 sq ft of accommodation across 10 retail units and one drive-through restaurant.
Tenants at the retail park include B&Q, Aldi, M&S, Home Bargains, Tapi Carpets, Pets at Home, Poundland, PureGym, Halfords, McDonald’s, and Superdrug, which recently took the former Carpetright unit.
The scheme generates a rental value of £3,504,830 per annum and has a weighted average unexpired lease term of 6.5 years to expiry and 5.8 years to break.
Junction One Retail Park is situated immediately south to Junction 1 of the M53 dual carriage motorway, which runs southeast to Liverpool city centre.
Staunton Whiteman has been appointed to find a suitable purchaser for the asset.