Tuesday, March 13, 2024
Circle Property Unit Trust buys Baildon Bridge Retail Park, Shipley, West Yorkshire
Circle Property Unit Trust, advised by Edgerley Simpson Howe & Partners, has purchased the freehold interest in the Baildon Bridge Retail Park, Shipley, West Yorkshire from The MC Property Growth Fund for £5.925m, reflecting a net initial yield of 5.81%.
Located three miles north of Bradford city centre, the park comprises 37,424 sq ft (3,477 sq ft) of retail warehouse space over three separate units. The three tenants, Focus DIY, Oddbins and MotorWorld, provide an annual rental income of £359,960 pa.
Tony Rogers of ESHP comments: "This is an interesting medium-term investment for our clients. With Oddbins' and MotorWorld's leases expiring in 2010, there are good prospects for short term asset management initiatives as well as the potential for long-term redevelopment."
The MC Property Growth Fund was represented by Mayfair Capital Partners and CBGA.
Located three miles north of Bradford city centre, the park comprises 37,424 sq ft (3,477 sq ft) of retail warehouse space over three separate units. The three tenants, Focus DIY, Oddbins and MotorWorld, provide an annual rental income of £359,960 pa.
Tony Rogers of ESHP comments: "This is an interesting medium-term investment for our clients. With Oddbins' and MotorWorld's leases expiring in 2010, there are good prospects for short term asset management initiatives as well as the potential for long-term redevelopment."
The MC Property Growth Fund was represented by Mayfair Capital Partners and CBGA.
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