Trio of malls come to market
Almost 1.5m sq ft of shopping centres have been put up for sale this week.
A trio of malls across the UK have come to market, the largest of which is the 768,561 sq ft Frenchgate in Doncaster, South Yorkshire.
Frenchgate is being sold through Savills for around £35m – a 10.5% yield.
Almost 1.5m sq ft of shopping centres have been put up for sale this week.
A trio of malls across the UK have come to market, the largest of which is the 768,561 sq ft Frenchgate in Doncaster, South Yorkshire.
Frenchgate is being sold through Savills for around £35m – a 10.5% yield.
The mall, which is anchored by Sainsbury’s, Boots and Boyes, has a WAULT to expiry of 11.19 years and a WAULT to break of 9.71 years. It provides a total gross annual income of just over £7m.
It is being sold by a private investor.
Frenchgate, which sits on an 11-acre site, offers a number of asset management and development opportunities, said Savills, including the reletting of the vacant Debenhams department store.
Elsewhere, Knight Frank has brought the 304,025 sq ft Swan Walk shopping centre in Horsham, West Sussex, to market for £17m – a 10.5% yield. It is anchored by Boots, Next and H&M and provides a gross rental income of £3.3m.
The 400,000 sq ft Coopers Square in Burton-on-Trent in Staffordshire has also been put up for sale. Lunson Mitchenall is seeking around £9m – a 16.33% yield – for the shopping centre. It is anchored by Marks & Spencer, Boots, Next and Primark and provides a gross income of £2.3m.
Both agents have been instructed by receivers to UK fund manager BYM Capital, which was placed into administration last year.
