Bond Wolfe completes £3.2 million Derby retail park sale

Bond Wolfe has successfully brokered the sale of the remaining units at Derby’s Southgate Retail Park for a combined total of £3.2 million.

Bond Wolfe has now completed the off-market sale of the rest of the retail park for £1.9 million, with Connect Derby Properties Ltd again acting as the buyer. This follows the earlier £1.3 million sale of Unit 5, let to The Gym Group, to the same purchaser earlier this summer.

The retail park generates a gross annual income of £285,344, with key tenants including Royal Mencap Society, One Below Retail Ltd, and Swarco. The latest sale achieved a net initial yield of 7.14%.

The property consists of a modern 53,202 sq ft scheme combining eight retail and office units, including a business innovation centre and retail warehouse space.

James Mattin, Managing Director – Agency at Bond Wolfe, highlighted the continuing demand for retail park investment opportunities.

“We are delighted to have concluded this off-market sale of the remainder of Southgate Retail Park. Demand for retail park investment opportunities continues to grow, and we are seeing strong activity from both private and corporate investors,” Mr. Mattin said.

He added:

“We are always ready to discuss specific requirements from investors looking for opportunities.”

Clark Brookes Turner Cary Solicitors in West Bromwich acted for the seller, while Elliot Mather in Derby advised Connect Derby Properties Ltd.

Those interested in similar opportunities can contact Mr. Mattin on 0121 525 0600, 0121 524 1172 or by email at [email protected].