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June 2017

St John’s Way Shopping Centre, Knowle, Solihull, B93 0LE

Untitled

sold

The property comprises a rare opportunity to buy a shopping centre in a the highly desirable and affluent commuter village of Knowle.  The property comprises 32,096 sq.ft retail scheme with 24 retail units and upper floor residential apartments to part of the scheme.  The property is fully let to 23 tenants.  Current income £486,650 per annum with 29% secured to Tesco.  WAULT on the retail of 5.3 years to expiries and 3 years to breaks.  Considerable asset management initiatives and development opportunities.  Offers sought in excess of £5,700,000 which reflects a net initial yield of 8% and a reversionary yield of 9.1%.

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