New owners take the wheel at roadside retail development

Property developer, Hinton Group has handed over its stake in Copcut Business Park, Droitwich.

MK2 client St Johns Property High Income Fund has snapped up the roadside retail development, which is set to feature a supermarket and drive-thru pre-let to Sainsbury’s and Costa Coffee.

With 15-year leases secured by Sainsbury’s and Costa for 4,500 sq ft and 1,800 sq ft, the development will bring in a total annual rent of £265,000.

Hinton Design & Build Ltd. is on board for construction, with enabling works already underway and the project slated for completion in early 2025

Mark Rooke, director at MK2, said: “High profile forward-funding opportunities like this don’t come up too often. It’s great to have bagged this for St Johns.”

Richard Bryan, fund manager at St Johns, said: “Thanks to Mark Rooke at MK2 for sourcing this off-market opportunity and introducing it to us. It’s a great addition to our portfolio.”

Atlas Real Estate advised Bromsgrove-based Hinton Group.