Edgerley Simpson Howe LLP

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Recent investment Transaction

Huddersfield Retail Park changes hands post Brexit

23rd September 2016

BP Pension Fund purchased the freehold from Helical Bar in one of the few out of town retail investment deals agreed shortly after the Brexit vote. They paid £18,400,000 and achieved an initial ROI of 6.75% It is the closest retail park to the town centre occupying a prominent location on the inner ring road. Benefitting from a fully open A1 retail planning consent, including food use, the Park is currently arranged as 6 stores with a total floor space of just under 100,000sqft. Occupiers include Aldi, Dunelm, B&M, Matalan, Poundstretcher and local multiple Wynsor Shoes. Unit sizes range from 6,000sqft to almost 30,000sqft and the average rental is about £13.50 psf. The Aldi lease containing some fixed rental uplifts. ESH advised BP on the purchase