Bromsgrove Retail Park, Birmingham Road, B61 0DDMake an enquiry
Atlas Real Estate has recently completed the acquisition of this modern retail park investment located in Bromsgrove town Centre. The park was recently refurbished by the vendors IM Properties and comprises a total of 53,892 sq.ft on a site of 4.32 acres.
The retail park lies within easy walking distance of Bromsgrove town centre and benefits from an excellent parking provision of 1:202 sq.ft.
The property is let to Home Bargains, Food Warehouse, Lidl, Pure Gym and Greggs with a WAULT to lease expiry of 15.7 years and WAULT to break of 10.9 years.
The purchase price was £13,000,000 which reflects a net initial yield of 6.21% off the current income with guarantee index linked growth on the majority of the units.
Andrew Franck-Steier who acted for the purchaser, Colliers Global Investors comments that we were delighted to acquire this high quality, well let investment for a long standing client of the business.
The vendor, IM Properties was represented by X Prop.