Barracks Mill Retail Park Investment. 3 Retail Properties Offered at £22,750,000 in Macclesfield
INVESTMENT HIGHLIGHTS
- Prominent, accessible and visible location a short distance from the town centre immediately adjacent the A523 - “The Silk Road” and a busy Tesco.
- Macclesfield is a prosperous and affluent market town located in North-East Cheshire.
- Fully let to Aldi, M&S, B&M, Farmfoods, Costa, KFC and BP Pulse.
- Freehold. The property is held in an SPV which may be available to purchase, subject to negotiation.
- 15 minute drive time population of approximately 80,000 people rising to over 128,000 people within 20 minutes.
- Attractive WAULT of 14.3 years to expiry and 12.9 years to break.
EXECUTIVE SUMMARY
The subject property is situated in a prominent, accessible and visible location a short distance from the town centre immediately adjacent the A523 – “The Silk Road”. The A523 provides direct access to Manchester to the north and Leek to the south. The subject property is also a short distance from the A523’s intersection with the A537, which provides direct access to the M6 to the east. Immediately to the south of the subject property is a large Tesco Supermarket and further to the north is the Silk Retail Park (Wickes, PureGym and McDonalds).
PROPOSAL OFFERS ARE SOUGHT IN EXCESS OF £22,750,000(TWENTY TWO MILLION SEVEN HUNDRED AND FIFTY THOUSAND POUNDS)
A PURCHASE AT THIS LEVEL WOULD REFLECT A NET INITIAL YIELD OF APPROXIMATELY 5.50%ASSUMING PURCHASER COSTS OF 6.75%.
BASED ON THE ASSUMPTION OF A 3% RPI INCREASE ON ALDI’S AND COSTA’S LEASES, THE YIELD WOULD RISE TO 5.75% IN 2027.
PROPOSAL OFFERS ARE SOUGHT IN EXCESS OF £22,750,000(TWENTY TWO MILLION SEVEN HUNDRED AND FIFTY THOUSAND POUNDS)
A PURCHASE AT THIS LEVEL WOULD REFLECT A NET INITIAL YIELD OF APPROXIMATELY 5.50%ASSUMING PURCHASER COSTS OF 6.75%.
BASED ON THE ASSUMPTION OF A 3% RPI INCREASE ON ALDI’S AND COSTA’S LEASES, THE YIELD WOULD RISE TO 5.75% IN 2027.
PROPERTY FACTS
| Price | £22,750,000 |
| Price / SF | £287.57 / SF |
| Net Initial Yield | 5.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 79,112 SF |
| Tenure | Freehold |
| Total Land Area | 21.49 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Units 1-3
3 The Silk Rd, Macclesfield SK10 2ZS |
Retail | 74,989 SF | 2022 | - |
|
Costa Coffee
Silk Rd, Macclesfield SK10 1LH |
Retail | 1,808 SF | 2022 | - |
|
KFC
Silk Rd, Macclesfield SK10 1LH |
Retail | 2,315 SF | 2022 | - |
CONTACTS
-
Jonathan
Salt
-
Ben
Turquet
