Park Place Retail have advised Melford Capital on the acquisition of Octagon Retail Park in Stoke-on-Trent for £22.4 million.
The scheme extends to 137,899 sq ft and is occupied by NCF, Nick Scali, Sofology, Natuzzi, Oak Furnitureland, Wren Kitchens and DFS. The scheme, which is the dominant furniture pitch for the substantial Stoke conurbation, provides various opportunities for tenant improvement and asset management.
The purchase price reflects a capital value of only £162.44 per sq ft and a net initial yield of circa 10%.
For further information please contact:
Miles Marten
miles.marten@parkplaceretail.co.uk
07770 748 290