Strong Investor Demand Indicates Confidence in the Future Prospects for Suburban Retail

Acting on instructions from Clearbell Capital, in a joint agency capacity with Gerald Eve, we are delighted to have completed the sale of their long leasehold interest in the commercial element of The Radius – a modern mixed use retail/residential property situated in Prestwich – a popular suburb of Manchester. The investment is fully occupied by nine tenants and includes a complementary blend of convenience retail from such national operators as Superdrug, Costa and Greggs together with some independent operators from the food and beverage sector including Croma and Panama Hatty. Having received five offers, the investment was sold to a locally based Property Company – David Samuel Properties – for a price in excess of £3,600,000 to show an equivalent yield of approximately 8.9%.

Leave a Reply

Your email address will not be published.