Marble Place sold for £3.9m

Simon Donohue

GVA has completed the sale of the Marble Place shopping centre in Southport to a private investor for £3.9m, representing a net initial yield of 12.6%.

Located in a prominent position within Southport's retail core, the 66,570 sq ft Marble Place is home to TK Maxx, Savers, 3 UK and The Body Shop among others. It produces annual rental income of £645,820.

Gurminder Manak, associate director at GVA, said: "Marble Place is an excellent investment opportunity.

"It provides a high yielding, multi-let retail investment in a well-established retail centre and boasts a long term commitment from its flagship tenant, TK Maxx.

"The centre also provides asset management opportunities for the new owner and the possibility to redevelop and add further value, subject to planning."

GVA acted on behalf of a private company to secure the sale.

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