Mayfair Capital’s Property Income Trust for Charities (PITCH), represented by ESH, have disposed of Border Retail Park in Wrexham for a sale price of £10,500,000 to Waypoint Essential Stores Limited Partnership (WESLP). This price reflected a NIY of 6.89%. Mason & Partners acted for the purchaser.

The asset consists of 64,800 sq ft purpose-built retail warehouse units let to B&M, Wickes and Jollyes and a Burger Drive Thru on a current passing rent of £777,815 per annum. The scheme has a WAULT of 6.73 years to expiry and 6.10 years to break.

ESH are delighted to have represented David Samuel Properties on the purchase of Wrexham Central Retail Park for a price of £9,610,000, reflecting 8.2% NIY. The vendor, Aviva, was represented by JLL.

The park consists of some 84,000 sq ft occupied by Dunelm, B&M, Pure Gym, SCS, Banana Bens and Pizza Hut, alongside around 5,200 sq ft of office space let to a Wealth Management firm.

The total passing rent is £839,692 per annum with a WAULT of 6.5 years to expiry and 5.2 years to break.

McCarthy Stone, solely advised by ESH have exchanged and completed on the purchase of a 2.25 acre site in Andover, Hampshire. The site, which was purchased unconditionally will comprise circa 62 Retirement Living Plus C2 apartments, coupled with an 80 bed care home, car parking and communal gardens.

The transaction was completed within 8 weeks of solicitors being instructed and represents site no.11 of the year for the Southern Division.

More land wanted.

ESH are pleased to have acted for Columbia Threadneedle Investments in the purchase of Cortonwood Retail Park.

The Freehold scheme is very well located in an out of town destination with critical mass. The park itself has transitioned from a ‘shopping park’ to a more fit for purpose relevant retailing destination.

The purchase price was £23.8 million. XPROP acted for the seller.

Vets4Pets, the veterinary surgery, have agreed to take a new unit in Stanway, Colchester. The tenant has agreed to take a new 10 year lease on Unit 1, Stane Park, extending to 3,500 sq ft. Vets4Pets will add to the tenant mix at the scheme, which is currently predominantly let to restaurant and drive-thru restaurant operators.

ESH advise the Landlord of the scheme, BP Investment Management.

Abrdn, represented by ESH, have disposed of Friary Retail Park in Stafford for a sale price of £4,500,000 to Cedar Investments Ltd.

The asset consists of four units, currently occupied by TK Maxx and Poundstretcher with two vacant units formerly occupied by Bathstore and Laura Ashley.

For further information contact: Jamie Naughton