Staunton Whiteman have successfully advised on the acquisition of St John’s Retail Park, Wolverhampton.
Acting on behalf of Brookhouse, Staunton Whiteman have successfully advised on the acquisition of St John’s Retail Park, Wolverhampton for £16.5m.
St John’s Retail Park is a prominent retail destination in Wolverhampton, benefiting from a highly visible location along the A4150 (Wolverhampton Ring Road) at its junction with the A459 (Dudley Road). The park offers excellent transport links, with easy access to the M6, M54, and M5, and is located close to Wolverhampton city centre.
The retail park features a strong tenant mix, including, Next, Currys/PC World, ScS, Pets at Home, Wren Kitchens, Flooring Superstore, and Tapi. The site provides 419 customer parking spaces and generates a total net operating income of £1,454,645 per annum.
The pose of £16.5 million reflects a yield of c. 7.25% on the net operating income, which will rise significantly once the vacant Homebase is let.
As a key commercial hub in the West Midlands, Wolverhampton continues to attract significant investment and benefits from strong demand for well-located retail space.
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