CBRE GLOBAL INVESTORS SELLS PLYMOUTH RETAIL PARK FOR £7.5 MILLION

May 22, 2017

CBRE Global Investors, advised by GCW, has sold a retail warehouse scheme in Plymouth to Custodian Capital for just under £7.5 million, reflecting a net initial yield of 6.75%.

Custodian Capital, advised by Maclaren & Partners, has acquired the asset comprising two units extending to circa 15,000 sq ft each and a purpose built drive thru on Coypool Road. Plymouth ranks 1st in the UK PMA competition index and has the highest spend retention of any retail centre in the UK. The scheme is well let with a WAULT of 9.6 years to expiry to ScS, Oak Furniture Land and McDonald’s. The total area of the site is 1.146 ha (2.832 acres) and has 138 car parking spaces.

Coypool Retail Park is 3 miles north east of Plymouth city centre and other tenants on Coypool Road include Furniture Land, Dreams, Harvey’s, B&M Bargains and Jollyes. Along with Marsh Mills, it is Plymouth’s principal bulky good’s retail warehouse destinations.

Fiona Nichols of GCW comments, “We priced the asset to stimulate competitive tension and accordingly ended up securing offers well in excess of our quoting terms of £6.7 million. There was strong interest in this asset, largely due to its location and income profile.”

Latest News

TURNSTONE ESTATES SELLS SAFFRON WALDEN SITE TO OWNER OCCUPIER

April 9, 2021 - 14:12

Turnstone Estates has sold a 1.3-acre development site on Ashdon Road, Saffron Walden to tool and plant hire company GR8 who intends to build out 20,500 sq ft of commercial space of which about 7,000 [...]

+ Read More

ROB TUDOR TO SET UP NEW BUSINESS

April 9, 2021 - 14:11

Rob Tudor, one of the most high-profile UK investment agents, has left the business he established 25 years ago to set up a new agency, Tudor Real Estate (TRE),  with his daughter Abigail Tudor and[...]

+ Read More

HR OWEN AGREES TURNKEY DEAL WITH ARLINGTON AT HATFIELD BUSINESS PARK

March 23, 2021 - 11:27

Arlington has agreed a freehold turnkey deal with luxury and supercar dealer HR Owen Plc for a new showroom at Hatfield Business Park, Hatfield, Hertfordshire. Arlington has sold a five-acre plot to [...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR