Bramhall’s Village Square on market for £8.8m
Wain Estates is looking to sell the 55,900 sq ft shopping centre and office complex, which sits between Ack Lane East and Bramhall Lane South in the Stockport community.
Boasting 31 retail units, 75 ground-level parking spaces, and a series of offices, Village Square has been a staple in Bramhall since it was built around the early 1970s. Wain Estates, under its old name of HIMOR Group, acquired Village Square in 2011 for £5.5m.
Now is the time to sell the two-acre plot. The Village is nearly all let – with only one 200 sq ft office remaining vacant. Tenants include Boots, TREK Cycles, and Sapphire Accounting.
The shopping centre and offices bring in an annual rental income of £726,700. WAULT to expiry is a little under six years, while the WAULT to break is approximately 4.6 years.
CBRE is marketing the property on Wain Estates behalf – listing it with a guide price of £8.8m. This reflects a net initial yield of 7.75%.
“The Village Square is a prime retail, leisure, and office investment opportunity that the current landlord has owned for over 10 years,” said Rob Woods, senior director at CBRE.
“The square provides continual asset management opportunities as well as an opportunity in the future to add a residential element,” he continued. “The square has benefitted from continual investment over the years and has always achieved strong occupancy levels.”
Should not be for sale
By Stephen Brierley
Why shouldn’t it be for sale?
By Anonymous
‘was built around the early 1970s’ – and what a fine example of that era it is too. At least the neighbouring old Barclays / new Sainsbury’s has a bit of brutalism going for it. Bramhall Village Square really is an ocular feast of archtectural banality (and not in a good way). Such a shame that continual investment didn’t stretch to some bulldozers and a design that is a lot more aesthetically pleasing. I guess the man has to make some money somehow.
Anyway, shops are great though.
By Bramhall Resident