Surrey retail park handed £14m price tag
A retail park in Surrey has headed to market with a price tag of £13.9m.
Wey Retail Park in West Byfleet is currently owned by ING Real Estate, and is being marketed by property consultancy Xprop.
The 35,361 sq ft scheme is home to Halfords, Home Bargains, Pets at Home, and Puregym, as well as 219 car parking spaces.
The scheme has an “attractive” weighted average unexpired lease term of 7.5 years, and a current rent roll of £890,215 per year, according to marketing material for the retail park.
Xprop said that there is a “very limited supply of retail warehousing in the vicinity”, with the nearest competition in nearby Weybridge and Woking.
Mark Powell and Tim Woolf of Xprop have been appointed to market the scheme.
The retail park last changed hands in 2012, when ING Real estate purchased the scheme in a deal worth just under £13m.