Property overview

AP Investment has completed the acquisition of a retail & leisure investment in the centre of Dewsbury on behalf of AEW.

The 6 acre site comprised four retail & leisure units in addition to the Council’s leisure centre and library.

Kirklees Council have long leasehold interests in their leisure centre and library. The retail and leisure units extend to over 57,000 sq ft and are let to Mecca Bingo, JYSK, Sports Direct and a KFC franchise. Part of the car park was also let to Kirklees Council. The passing rents on the three larger units were sub £8 per sq ft.

The property was purchased for £4,700,000 which reflected a net initial yield of 9.44%.

Metis Real Estate Advisors acted for the vendor.

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