B&Q and Sports Direct's leases run until 2031. Credit: Google Earth

Waypoint splashes £11.7m on Barrow shops 

Chancerygate has offloaded 100,000 sq ft of retail units off Hindpool Road let to B&Q and Sports Direct. 

Waypoint Asset Management has acquired the units for £11.7m, reflecting a net initial yield of 6.38%. 

The price achieved by Chancerygate for the freehold of the 6.38-acre is slightly above the asking price of £10.3m. 

B&Q occupies 53,000 sq ft, signing a 10-year lease last September. Sports Direct occupies 48,000 sq ft and its lease also runs until 2031. 

In total, the units generate £796,000 in rent annually. 

Tudor Real Estate and Savills advised Chancerygate and Mason Partners advised Waypoint. 

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