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

Waypoint splashes £11.7m on Barrow shops 

7 June 2022 10:41 Dan Whelan Comments (0)

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. 

Your Comments

Read our comments policy

Related Articles

Land west of Derwent Howe Retail Park, Port Derwent Properties, c Google Earth

Butterfly concerns batted away as govt approves Workington retail park

9 February 2024 11:09 Julia Hatmaker Comments (2)

Port Derwent Properties can move forward with its outline plans to build 25,300 sq ft of shops, restaurants, and takeaways on four acres of brownfield land off Derwent Drive.
Kendal College, Kendal College, p Freshfields

Kendal College completes 50,000 sq ft campus deal 

5 February 2024 10:57 Dan Whelan Comments (1)

Praxis has sold a chunk of Westmorland Shopping Centre to the institution more than two years after the college announced its intention to create a campus there. 

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