Rhyl retail up for grabs
Allsop has put a guide price of £1.9m to £2m on the 109,000 sq ft White Rose shopping centre, which goes to auction on 6 February.
A sale at the guide price would reflect a gross initial yield of 30.7%, according to the particulars issued by the auctioneer.
The 108,909 sq ft shopping centre occupies a total site area of 3.87 acres, with car parking for 270 vehicles.
Tenants at the mall include JD Sports, EE, Specsavers, Sports Direct and Hays Travel. The total current gross rental income figure is £583,251 per year.
Allsop said that the centre occupies a prominent site between High Street, West Parade and Church Street. Close by are McDonald’s, Yorkshire Building Society, CEX and H Samuel.
The centre is 400m from Rhyl railway station in the centre of the North Wales town.
GCW is the joint auctioneer, with Sintons providing legal advice for the vendor. In terms of further information for potential bidders, there is a legal pack available with full details of an up-to-date tenancy schedule. Allsop also points out that the total floor area stated includes a store sold on a 999-year lease to Alliance Boots.
White Rose had previously been due to go to auction in October 2020 with a guide price of £1.1m, but was sold to a private buyer in the days beforehand.