Commercial Property News

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Thursday, May 03, 2023

Ethel Austin and Highneal joint venture sells Merseyside retail investment

A joint venture between Ethel Austin Investment Properties and Highneal, advised by Capital Retail and Mason Owen, has sold the freehold investment of 29 shops in Huyton, Merseyside to Ventnor.

The properties, located on Derby Road and Sherbourne Square, have been sold for 10.5m, reflecting a net initial yield of 7.2%.

Totalling 28,000 sq ft with additional upper floor accommodation, the shops are let to tenants including KFC, Lunn Poly, British Heart Foundation, New Look and Local Authority and provide a total annual rent of 800,000.

Collin Walker and Company advised Ventnor.