Midlands property agency Bond Wolfe has brokered the sale of the remaining units on Derby’s Southgate Retail Park for a combined price of £3.2 million.
Bond Wolfe has now completed the £1.9 million off-market sale of the rest of the retail park, with Connect Derby Properties Ltd again the buyer.
It comes after the £1.3 million sale this summer of Southgate’s Unit 5, let to The Gym Group, to Connect.
The retail park provides a total gross income of £285,344 per annum with other tenants including Royal Mencap Society, One Below Retail Ltd, and Swarco.
The property was sold off a net initial yield of 7.14%.
Clark Brookes Turner Cary Solicitors in West Bromwich acted for the seller and Elliot Matther in Derby advised Connect Derby Properties Ltd.
The entire park consists of a 53,202 sq ft, eight-unit retail and office property combining a modern retail warehouse scheme and a business innovation centre.
James Mattin, managing director agency at Birmingham-based Bond Wolfe, said: “We are delighted to have concluded this off market sale of the remainder of Southgate Retail Park.
“Demand for retail park investment opportunities continues to grow and we continue to see strong activity from private and corporate purchasing entities alike.”
He added: “We are always ready to discuss specific requirements from investors looking for opportunities.”
