South African buyer snaps up Yorkshire retail park

A retail park in West Yorkshire has been sold to a private South African buyer.

Advisor Avison Young has completed the sale of Gallagher Retail Park in Huddersfield, on behalf of Administrators at Deloitte.

The destination, located off Wakefield Road, is fully let and home to well-known brands including M&S, McDonald’s, Aldi and Home Bargains.

Permitted occupiers have remained open to serve the local community over the course of the COVID-19 outbreak.

Avison Young’s restructuring solutions team worked with Adrian Berry and Michael Magnay, the joint administrators of Marcus Worthington Properties, in handling the management of the park whilst working towards the sale.

Alex Sweetman, director at Avison Young said: “The retail park is home to a great mix of retailers committed to serving the town.

“We’re naturally pleased to have received a healthy level of interest from both private and institutional investors, particularly during the COVID-19 outbreak, demonstrating the confidence that remains within the property investment market for well-let retail assets.”