Stockport retail warehouse asset handed £3.2m price tag
A retail warehousing asset in Stockport has been placed on the investment market with an asking price of £3,180,000, reflecting a net initial yield of 8.00%.
The retail park comprises two units extending to a total of 18,000 sq ft, currently let to B&M and Dreams. The properties have a weighted average unexpired lease term of 5.4 years to expiry and produce a total passing rent of £271,101 per annum.
The asset is situated between the M60 to the north and A560 to the south, immediately adjacent to The Peel Centre, which provides over 332,000 sq ft of retail warehouse accommodation and is anchored by M&S, The Range, Tk Maxx, Currys, and Dunelm.
Stockport forms part of the Greater Manchester area and is located approximately seven miles south-east of Manchester city centre. The area is currently undergoing the largest town centre regeneration in the UK that involves the creation of new homes, infrastructure, public spaces, and the revitalisation of historic buildings.
Rosebury Real Estate has been appointed to find a suitable buyer.