Property overview

Phoenix Leisure Park, Dunwoody Way, Crewe, CW1 3AJ

Make an enquiry
Dec 2015

Franck Steier Price has recently completed the off market acquisition of a modern leisure park in Crewe town centre on behalf of Custodian REIT plc.

The property comprises a terrace of three leisure units, a detached restaurant unit and 304 car parking spaces located within easy walking distance of Crewe town centre.

The property is fully let to Mecca Bingo, Pizza Hut and MFA Bowl with one unit sublet to Odeon Cinemas.  The current income is £523,625 per annum and the weighted average unexpired lease term to break is 17.1 years and 18.25 years to expiry.

The investment was purchased for £6,600,000 which reflected a net initial yield of 7.50%, after purchaser’s costs of 5.80%.

The property was sold by Albermale Property, represented by JLL.

resented by JLL.