Cathedral Retail Park, WakefieldPosted on April 7, 2017
In April 2017 Clay Street acquired this strong regional retail park on behalf of Eskmuir.
- Cathedral Retail Park was acquired fully let to eight tenants including B&Q, Argos, Dunelm, Office Outlet and McDonalds.
- The park provides 112,605 sq ft (10,461 sq m) of retail warehouse space.
- The leases have 7.31 years left to expiry with 6.79 years left to break.
- Current passing rent of £1,753,250 pa reflecting an average rent or £15.58 per sq ft.
The asset was purchased from Royal London Asset Management for £19.425m reflecting a net initial yield of 8.46%.