MGI Holdings acquires £7.75m multi-let Leicester retail parade
MGI Holdings has acquired a multi-let retail parade in Leicester city centre for £7.75m.
Located at 1/3, 17–19 Haymarket and 4–6 Humberstone Gate, the 110,219 sq ft block is anchored by a 40,000 sq ft TK Maxx store. Other occupiers include Deichmann, Evans Cycles, Costa Coffee, Burger King, Timpson, Ladbrokes, and a Halifax Building Society.
The parade benefits from dual frontages to Haymarket and Humberstone Gate, strong footfall, and direct integration with the 214,000 sq ft Haymarket Centre.
The asset produces a net income of approximately £1.37m per annum and has a weighted average unexpired lease term of 3.6 years.
Blackstar Real Estate has been appointed as asset manager of the block.
Ben Legard of GCW, which advised MGI Holdings, said: “This is a very exciting purchase of a multi-let prime retail block with excellent asset management opportunities. Its position in a high footfall location in the heart of Leicester at the centre of the consolidating retail pitch leads this to be a statement purchase for MGI Holdings.”
KLM Real Estate advised the vendor.