Staffordshire retail park snapped up in £10m deal
An out-of-town retail park in Staffordshire has been sold to a private investor for £10.25m.
Hortons completed the sale of Cannock Gateway Retail Park, which spans 38,000 sq ft and includes retail units, a drive-tru and an electric vehicle charging station.
It is fully occupied by tenants including TK Max, Costa, Burger King, Sofology, Greggs and MFG EV Power.
Situated on a 4.4-acre site near the M6 Toll, the park was acquired by Hortons in 2013 and built two years later.
Harry Young of Hortons, said: “Our development of Cannock Gateway Retail Park has delivered a high-quality retail and leisure experience that has greatly supported the local economy. Its disposal releases capital to re-deploy into some exciting projects within Hortons’ portfolio, as well as some potential acquisitions.”
Hortons was represented by Andrew Franck-Steier of Atlas Real Estate and James Madill of Gateley Legal. Roger Parker of Parker & Co acted for the purchaser.
