Local investor snaps up Wolverhampton retail parade

A private investor has acquired the Castle Yard retail parade in Wolverhampton city centre for £2.7m.

MK2 Real Estate, acting on behalf of Hortons’ Estate Ltd, facilitated the sale of the freehold property located on Dudley Street, Queen Street, and Market Street to the investor.

Comprising seven retail units spanning 26,456 sq ft, Castle Yard hosts tenants including Nationwide Building Society, German Doner Kebab, Burger & Sauce, and Pound Bakery.

Hortons’ Estate has had ownership of Castle Yard for over six decades.

Mark Johnson, director in MK2’s investment agency team, said: “We’re pleased to have agreed on the sale of Castle Yard, achieving close to the revised asking price, despite challenging market conditions. The property produces a strong rental income, and with opportunities to add value through future rental uplifts, lease extensions and redevelopment of the upper floors, it offers good long-term investment potential, which the buyer recognised.”