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Retail park by M62 sells for £8m
A WEST Yorkshire retail park has been sold for more than £8m.
Spring Ram Retail Park, Birstall, by Junction 27 of the M62, has been bought by Leeds and London Investment. The vendors were NPI, part of the Pearl Group. Tenants on the park are Borders and Habitat.
There is a 15-year lease on the property with an annual rental income of 726,000.
Alex Munro of the Leeds office of property consultancy Knight Frank, who advised the buyers said: "This transaction, involving one of the M62's best-known retail parks, proves that deals can be done in this challenging climate, if the product is right.
Prime
"In this case, the location is one of the best retail warehouse locations in the North of England.
"The two tenants take up 21,000 sq ft of prime retail space. The retail park itself is adjacent to Birstall Shopping Park and Junction 27 Retail Park, as well as being close to Ikea. This is a major retail destination and a superb investment deal," said Mr Munro.
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Wednesday 23 May 2012
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