Marshalls CDP and Rothstone Estates are seeking a buyer for their newly developed St George’s Retail Park in Middleton, Leeds.
Savills, which is marketing the asset, is seeking offer over £18m, reflecting a net initial yield of 6.35%.
The 65,000 sq ft retail park opened this autumn and comprises 11 units, of which six are already let to Aldi, B&M, McDonald’s, Greggs, Harrison and Costa Coffee. Aldi and B&M are the anchor tenants.
The average weighted unexpired term is of 15.1 years to expiry and 13.1 years to break.
CDP and Rothstone bought the site in a joint venture and their £17m redevelopment began in July 2023.
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