M&S, Pets at Home retail park in Prestwich sells for £9.85m
An unnamed purchaser has acquired the site off Bury New Road in a deal that reflects a yield of 5.5%.
CBRE Investment Management was the vendor of the retail park, which had a guide price of £9.4m.
Nolan Redshaw’s investment arm, NR Investments, negotiated the deal on behalf of the purchaser, which the company described as a retained private client.
“Due to the calibre of the asset, interest in this site came from national and overseas investors,” said Nolan Redhsaw surveyor Jonathan Pickles.
“There were a number of competitive bids, and we ensured our clients were represented with the utmost professionalism ultimately leading to the successful transaction in under 10 working days.”
The purchaser was advised by Ian Liddle at Farley’s Solicitors. CBRE Investment Management was represented by Luke Wilson at CBRE.
