Thu, 13 May 2021 | BUSINESS SALE
A West Yorkshire shopping centre that sees up to 5 million customers every year has been put on the market by Savills with a guide price of £15.55 million.
Working on behalf of LaSalle Investment Management, Savills stated that the Halifax-based Woolshops Shopping centre comprises of 7.4 acres of land and 236,923 square feet of retail space, which is currently centred around a 48,338 square feet Marks & Spencer. Other retailers current operating on the site include Boots, JD Sports, Costa Coffee and WHSmith.
The business sale will also include the two storey car park, which includes 310 spaces and is responsible for generating 22 per cent of the net income for the asset.
Commenting on the sale of the business, James Stratton, investment director at Savills, stated that the freehold site remains the dominant force in the area's retail offering.
"The modern scheme benefits from a vibrant mix of convenience, essential and fashion retailers, anchored by the town centre's most popular car park," he said.
"The low rise construction, open air street scape environment and asset management opportunities are expected to draw good interest from a wide range of investors."
The Woolshops was part of a redevelopment of the town which took place in the 1970s and 80s. Developed across two phases, the first part of the site included the listed buildings and a new car park and was completed in 1983.
The second phase was completed in 2000 and added a number of additional retail units, which increased the overall size of the centre by almost 30 per cent to create the open air shopping centre that remains today.
One of the best ways to find properties below market price is to look at recent administrations.
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FREEHOLD
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