ACRE Capital Real Estate acquires high yielding prime Walsall retail parade
ACRE Capital Real Estate acting on behalf of Real Estate Investors PLC (REI) have advised on the investment acquisition of 1-11 Park Street & 82-87 Bradford Street, Walsall. The prominent retail parade is on the prime, pedestrianised pitch in Walsall town centre which has benefitted from the recently completed regeneration of St Matthews Quarter.
The freehold parade is let off re-based rents of 70 Zone A to national multiple tenants including Santander, Game, Toni & Guy and Thomas Cook. There is an AWULT of 3.5 years to break and 6.1 to expiry and an annual income of 582,720 per annum. This is an opportunistic buy for REI with the investment providing a highly attractive double digit running yield.
Location: Park Street, Bradford Street, Walsall
Property Type: Retail
Transaction Type: Acquisition