Staunton Whiteman are instructed to sell Parkgate, Rotherham. The UK's 2nd largest retail park.
- It comprises a total of 577,837 sq ft of unrestricted retail accommodation in 45 units and occupies a site of 37.5 acres.
- It has a catchment population of 438,954 within a 20 minutes drive and captures 31.9% of all retail spend within it.
- In 2021 Parkgate attracted 10.123 million shopper visits.
- 97% of the scheme is let.
- The total rent of £7.267 million pa equates to £17.92psf overall.
- Our client is seeking offers in excess of £80,000,000 (Eighty Million Pounds) subject to contract and exclusive of VAT for the freehold interest in the property. A purchase at this level will show a net initial yield of 8.50%, after allowing for purchaser’s costs of 6.8%. This equates to a capital value of just £197 psf.
