Thu, 09 Jul 2015 | COMMERCIAL PROPERTY
A large retail centre in Ashton-under-Lyne is for sale with the agents predicting a significant level of interest from potential investors due to the potential of the centre.
Arcades Shopping Centre is the mall in question and the business is for sale for £24.25 million.
It houses a total of 45 units which are spread across two floors of open shopping space. These units are occupied by major high street retailers including New Look, Next and WHSmith.
Investment director at Savills, Mark Garmon-Jones, has been appointed to handle the sale by Grant Thornton. He said that the guide price will deliver a net initial yield of nine per cent, with the retail centre expected to generate annual rental income of around £2.9 million.
Mr Garmon-Jones commented on the opportunity: “With a strong tenant mix and numerous opportunities to increase long term income through asset management, we are confident this shopping centre investment will have wide appeal.”
In total the retail centre provides 138,691 square foot of retail space. It was first opened back in 1995 and is well located next to the Ladysmith Centre and Market Square, which is currently undergoing a multi-million pound investment as the area continues to improve.
View other retail businesses for sale.
This is a chance to acquire a longstanding and reputable manufacturer of modern concrete garages, with roots dating back to the 1940s.
This well-established haulage company in West Yorkshire offers a strategic location with easy access to major motorway links and a strong, loyal client base developed over 20 years.
This is a rare opportunity to acquire this thriving motor vehicle repair, MOT, and service centre. This professionally run business currently provides the majority of its services to private customers with a small amount of commercial work, which pro...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.