Huddersfield Retail Park changes hands post Brexit – Sep ’16

BP Pension Fund purchased the freehold from Helical Bar in one of the few out of town retail investment deals agreed shortly after the Brexit vote. They paid £18,400,000 and achieved an initial ROI of 6.75%

It is the closest retail park to the town centre occupying a prominent location on the inner ring road. Benefitting from a fully open A1 retail planning consent, including food use, the Park is currently arranged as 6 stores with a total floor space of just under 100,000sqft. Occupiers include Aldi, Dunelm, B&M, Matalan, Poundstretcher and local multiple Wynsor Shoes. Unit sizes range from 6,000sqft to almost 30,000sqft and the average rental is about £13.50 psf. The Aldi lease containing some fixed rental uplifts.

ESH advised BP on the purchase