Acting on behalf of M7, Franck-Steier Price have acquired a multi let retail park in Shipley.
The park is located 0.5 miles north east of the town centre, adjoining a Wickes and KFC. The 3 unit scheme is let to B&M, Topps Tiles and Sue Ryder and extends in total to 37,457 sqft with 180 customer parking spaces.
The park is fully let with a WAULT of 8.6 years to expiries and 7.3 years to breaks. The total combined rent was £382,005 per annum with rents ranging from £9.49 to £14.96 per sqft.
The investment was acquired for £4,600,000, reflecting an initial yield of 7.79%. ESH acted for the vendor.