Wigan warehouse sold for £1.8m
PROPERTY consultancy Knight Frank has sold a 15,031 sq ft retail warehouse in Wigan on behalf of Knight Frank Investors.
The unit, which is currently occupied by electrical retailer, Currys, on a nine-year lease, has been bought by The Ormiston Trust – a deal which represents an initial yield of 7.75%.
The unit is directly opposite Robin Retail Park, a retail and leisure development containing 219,000 sq ft of non-food retail. The park contains an ASDA superstore, B&Q, Comet, Carpetright, Argos, Carphone Warehouse and Matalan, among others.
Steve Carrick, partner at Knight Frank, said: “We had a good level of interest in this asset, given the strength of the covenant and length of the lease.”
Knight Frank acted for Knight Frank Investors and Andrew Butcher Associates of Nottingham acted for The Ormiston Trust.
