Cheshire food stores sold

Independent commercial agent TFC has reported the forward sale of two food stores in Macclesfield and Nantwich for client Keyworker Homes.

A 4,500 sq ft M Local convenience store for Morrisons in Hope Park Macclesfield opened earlier this year. The site originally formed part of Macclesfield Hospital and was developed to provide a new children's nursery, a care home, office building and 36 homes.

A 10,000 sq ft M&S Simply Food was developed on the site of a former medical centre in Beam Street, Nantwich and completed this month.

Both were acquired by separate private investors who wished not to be named at prices representing net initial yields of around 6%.

Ben Fallows, director of TFC, said: "The investments attracted a great deal of interest. The demand for convenience store sites continues unabated as demonstrated by Morrisons' recent acquisition of 49 former Blockbuster stores to further develop its M Local convenience store format."

Whitaker Horton was joint agent with TFC. Paul Nichols & Co represented the buyer of the Morrisons M Local. The buyer of the M&S Simply Food was unrepresented. Cheetham & Mortimer advised M&S.

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