Property overview

Franck-Steier Price Ltd (FSP) have recently advised on the purchase of the Bridge Retail Park in Runcorn on behalf of a private investor.

The park comprises two adjoining new build retail warehouses, built by St Modwen, which are located to the north of Runcorn town centre.  The units are let to Homebase DIY (20,050 sq.ft) for a term of 20 years at £12.00 per sq.ft and Dreams Plc (9,190 sq.ft) for a term of 15 years at £14.85 per sq.ft.

The purchase price of £4,550,000 reflected a net initial yield of 7.65%.