90 North are offering Crossley Retail Park, Kidderminster for sale for £46,000,000 reflecting a net initial yield of 6.62%.
The park dominates Kidderminster’s bulky goods offer and is a high-quality modern scheme of 13 units and a stand-alone pod providing 206,236 sq ft of retail accommodation. Tenants include Currys/PC World, Mountain Warehouse, Halfords, Staples, Maplin, Bensons for Beds, Oak Furnitureland, ScS, Pets at Home, B&Q and Costa.
The total passing rent of £3,254,445 per annum reflects a low overall rent of £15.78 psf. The scheme has a WAULT of 8.35 years. The park is fully let and has experienced recent new lettings and lease regears and offers further asset management opportunities.