The Park Centre was constructed in 1984 and refurbished in 1996, providing 132,000 sf of retail space on a highly visible site fronting the M1 motorway at Broadway Roundabout. Current anchor tenants include Dunnes Stores, Iceland and a number of UK multiples The sale reflects a net initial yield of 7.72% and the new owners are already considering plans to refurbish and extend the centre
The Main Street Bangor site totals 36,000 sf which was formerly occupied by Wellworths but is currently vacant. 40/52 Main Street Bangor comprises a unit of ft and is currently vacant. This location is set to improve following the announcement that the Flagship Centre is to be refurbished and extended.
Lisney advised the vendor and Director Andrew Marsden said: 'Investment in the retail sector is particularly attractive to private investors at the moment because of the continuing low interest rates and the strong performance of the retail property sector in recent years.'
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
