Property overview

Jerome Retail Park, Walsall, WS1 3BQ

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Jan 2013

Atlas Real Estate Ltd has recently completed the acquisition of Jerome Retail Park in Walsall on behalf of the AEW UK Core Property Fund.

The modern retail park lies in close proximity to Walsall Town Centre adjacent to the Sadlers Shopping Centre and comprises a total of 97,187 sq.ft of retail accommodation.  Within the ownership is a large car park let to Euro Car Parks.

Occupiers on the park include, Homebase (Clearance Bargains), Poundstretcher, Iceland, Home Bargains and Gala Bingo (the latter 2 units are sold off on a long lease).

The total rental income is £466,968 per annum and the purchase price was £3,500,000 which after usual costs of purchase, represented a net initial yield of 12.61%.

Jones Lang Lasalle represented the vendors who were Receivers acting on behalf of Scottish Widows Investment Partnership.