Sale completed of Warrington’s Gemini Retail Park
Warrington’s Gemini Retail Park has been sold for an undisclosed sum.
International real estate advisor Savills, completed the sale on behalf of M&G, to Knight Frank Investment Management, represented by Lewis Ellis.
Gemini Retail Park is a modern, high quality retail warehousing scheme comprising three units across 49,447 sq ft.
The three units are let to Boots and Next, with Next occupying a 15,942 sq ft store, which includes a Costa Coffee concession, and a separate 18,805 sq ft Next Home store.
The scheme provides an annual rental income of £1,248,761, and a WAULT of around 4.5 years. Two out of the three units benefit from recently re-based rents.
Gemini Retail Park is situated in a highly prominent and busy location fronting Europa Boulevard and has established itself as a regionally dominant out of town retail destination.
Nearby retailers include a 200,000 sq ft IKEA superstore and a 122,000 sq ft M&S, as well as Porcelanosa and McDonalds.