Pension fund buys Denton retail site for £780,000

A freehold retail investment in Denton town centre has been sold by S H Denton to a private pension fund for £780,000.

The newly completed retail development at 47 Stockport Road comprises four units totalling 5,500 sq ft with communal car parking.

Three of the units are let, to Vets 4 Pets, Barnardos and Subway, producing an income of £83,500 a year, representing a net initial yield of 8.25%.

Ben Fallows of commercial agent TFC, who acted for the vendor, said: "The development's prominent position fronting Stockport Road at the entrance to Morrisons superstore attracted a lively interest from a number of investors and the sale was agreed quickly."

Steam Rock Capital represented the purchaser.

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below