Green Oaks, Widnes, P.Google Earth 0
Tenants at Green Oaks include Halifax, EE, O2, Vodafone, Vision Express. Credit: Google Earth

Widnes retail complex sold for around £4m 

Dan Whelan

Fiera Capital has sold the freehold of Green Oaks Shopping Centre to a North West family investor. 

The 95,500 sq ft Widnes complex had been due to be auctioned off but was sold above its £3.5m guide price prior to going under the hammer. 

Green Oaks, which comprises 18 retail units, nine kiosks and a crèche, is anchored by an 83,000 sq ft Morrisons supermarket that was not included in the transaction. 

The sale price is significantly below what Fiera Capital, then known as Palmer Capital, sought for the asset when the company appointed Savills to sell it in 2019. 

A sales brochure states offers in the region of £8.7m were sought, reflecting a a net initial yield of 11.00%. 

Tenants at Green Oaks, which is held on long leasehold from Wm Morrison Gpl expiring 20 December 2133, include Halifax, EE, O2, Vodafone, Vision Express, Pandora and Holland & Barrett. 

The centre generates a passing rent of £758,400 a year has a WAULT of 3.62 years to expiry and 2.81 years to break. 

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