Southport hotel opportunity and shops up for sale

Delta Properties has instructed Knight Frank to sell the freehold interest in the 60,000 sq ft Marble Shopping Centre for £6.5m, reflecting a net initial yield of 9%.

Built in the 1990s, the two-storey shopping centre is close to the prime Lord Street pitch and is anchored by TK Maxx. National covenants account for 78% of current income.

In March, planning permission was granted for an eight-storey 96-bed hotel at the site, offering the opportunity to reconfigure the centre and increase the food & beverage offering.

Steve Carrick, investment partner at Knight Frank, said: “Marble Shopping Centre offers an excellent hotel development opportunity with planning permission already secured. There is significant interest from well-known hotel brands who are keen to access the Southport market.”