ST. HELENS, UK—Valad Europe, the leadingindependent diversified real estate investment manager, hasacquired a 68,351 square foot retail warehouse andrestaurant for $12 million (£7M) at Chalon WayWest, in the Merseyside town.
Representing a net initial yield of 7.65%, thepurchase was made on behalf of its Valad European Diversified Fund.Spen Hill Developments Ltd, the wholly owneddeveloper subsidiary of Tesco, was the vendor.
The asset comprises 63,351 sq ft of RetailWarehouse space let to home, leisure and garden retailer,The Range, on a 15 year lease, and a new 5,000 sqft two-story McDonald's restaurant with drive thruon a 20 year lease. The site also includes ample car parking withmore than 450 spaces.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
