Marina Quay Retail Park on sale for £17m
Allsop and Knight Frank are joint agents for the sale of the 12-acre North Wales shopping destination.
Located along the River Clwyd in Rhyl, Marina Quay boasts more than 105,000 sq ft of retail warehouse space. Key tenants include B&M, Farm Foods, Greggs, The Range and One Below. Aldi is the lead anchor, taking up 18,651 sq ft of the park.
Scarborough Development Group built Marina Quay in 2017. The retail park is located within a mile of the Rhyl Railway Station.
The total headline rent for Marina Quays is £1,148,690 per annum. The average weighted unexpired lease term is 13.9 years to expiry.
“Out of town retail has performed exceptionally well throughout the Covid-19 pandemic and Marina Quay is no exception,” said Jack Abou-Jaoude, senior development manager at Scarborough.
“Over the past four years it has established itself as one of the most successful retail parks in North Wales,” he continued. “Given that it is almost fully let to a wide range of well-known tenants, we are anticipating extremely high levels of demand from a variety of purchasers.”