Wirral shopping complex JunctionONE Retail Park has been listed for sale with a price tag of £50.7m.
The property, located off the M53 between Bidston and Wallasey, is being marketed by Staunton Whiteman on behalf of its current owner, The Albert Gubay Charitable Foundation.
Currently, the retail park hosts an array of popular brands such as MandS Food, Home Bargains, Pets at Home, Aldi, McDonald's, and BandQ, with management handled by Workman LLP. It has 963 complimentary parking spaces.
The sales listing said: "Junction One Retail Park is a prime modern retail park comprising a total of 190,874 sq ft of accommodation in 10 retail units and a drive thru fast-food unit."
It adds: "The scheme is an example of what the very best prime modern retail park should be. The recent letting of the former Carpetright unit to Superdrug, at a headline rent of £26 psf (£24.70 psf net effective), demonstrates that the scheme is reversionary," reports .
The seller is inviting bids over £50.7m, subject to contract and exclusive of VAT, for the freehold interest in the property.
The listing adds: "A purchase at this level would show an initial yield of 6.00%, reverting to 6.48% based upon an ERV of £3,504,830 pa (which accounts for all fixed increases and rental caps) and an equivalent yield of 6.29%, net of purchaser's costs of 6.8%."
The brochure detailing the site outlines: "The northern element of the scheme comprises a large purpose-built B&Q store of 102,302 sq ft, which has a garden centre at its southern end and an external builder's yard at its northern end.
"Opposite the B&Q unit, fronting the A554, is a new McDonald's drive thru unit of 3,476 sq ft.
"To the south of the B&Q are two units let to Aldi and MandS Foodhall, to the south of which is a further terrace of six units let to Superdrug, Home Bargains, Tapi, Pets at Home and Poundland. There is a further stand-alone unit let to Halfords which fronts the northern element of the customer car park.
"The units are of a modern design with glazed frontages and they all present very well. The scheme is accessed directly from the A554 via a spur road.
"Customer car parking is laid out regularly to the front of the units. The Pure Gym unit has its own dedicated car park located to the rear of the unit with customer access to the unit also to the rear. In total there is parking for 963 cars showing an excellent ratio of 1:198 sq ft."
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