Shopping centre assets to be bagged at next Acuitus sale
Two shopping centre investments in Formby on Merseyside and Sutton-in-Ashfield in Nottinghamshire are slated to go under the hammer at the next Acuitus auction, to be held on 12 December.
Guide prices for both centres reflect yields in excess of 10%. Each is the sole shopping centre in its respective town.
In Formby, the freehold of the Cloisters Shopping Parade – which comprises a Marks & Spencer food hall, nine other shops, a vacant former health centre over the entire first floor and a large car park – is being offered for £3m-plus. The investment generates £332,859 in annual rent, with potential to rise to £347,859.
Two shopping centre investments in Formby on Merseyside and Sutton-in-Ashfield in Nottinghamshire are slated to go under the hammer at the next Acuitus auction, to be held on 12 December.
Guide prices for both centres reflect yields in excess of 10%. Each is the sole shopping centre in its respective town.
In Formby, the freehold of the Cloisters Shopping Parade – which comprises a Marks & Spencer food hall, nine other shops, a vacant former health centre over the entire first floor and a large car park – is being offered for £3m-plus. The investment generates £332,859 in annual rent, with potential to rise to £347,859.
The Idlewells Shopping Centre in Sutton-in-Ashfield comprises 150,025 sq ft of retail space providing 40 units, three kiosks, a café, a market hall and a multi-storey car park with 250 spaces. The property is being offered with a guide price of £3.25m-£3.5m and produces a net annual rental income of £542,325.
Substantial industrial assets are also listed in the catalogue. A prime freehold industrial investment in Nottingham has a guide price of £1.95m-£2m. Let to UPS until 2030, it generates £145,000 in annual rental income.
In Bradford, a freehold industrial estate close to the city’s football ground is being offered with a guide of £1.7m. It produces £146,000 in annual rental income from 10 fully let light industrial units.
Other highlights include city centre development or repurposing opportunities in Aberdeen. The Student Union Building and the Clarke Building on Harriet Street, totalling 90,000 sq ft, are guided at £350,000-£375,000, and the 40,000 sq ft Ruby House on Ruby Lane is guided at £500,000.
A further five office and warehouse buildings in Aberdeen will be offered at guides of £50,000-£450,000.
Photo © Acuitus
