Buccleuch Property has announced the sale of the Regent Street Retail Park in Leeds for £3.3 million to St.Bride’s White Rose General Partner Ltd and Saviour Carlton Nominee Ltd. The centrally located retail destination comprises four modern retail units, totalling 29,580 sq ft, all are fully let.
Tenants include Maplins, catering company Nisbets Plc, motorcycle equipment and accessories supplier Get Geared and JS Accessories.
Buccleuch Property acquired the site in 2001 and subsequently instigated the refurbishment of the units, secured new lettings and following a programme of active asset management, identified the optimal time to bring this attractive investment to the market.
Nick Waugh, Commercial Property Director of Buccleuch Property commented: “The Regent Street Retail Park is an ideal investment opportunity, in a good city centre location offering excellent economic growth prospects. It attracted a great deal of interest and we are pleased with the sale price secured and yield achieved. This deal has generated funds that we are actively looking to re-invest in new opportunities”
Pudney Shuttleworth acted on behalf of Buccleuch Property.
Notes to editors
About Buccleuch Property
Buccleuch Property (www.buccleuchproperty.co.uk) represents the commercial property interests of the wider Buccleuch Group with the core of its business operating in the investment and development markets together with significant interests in the strategic land and residential sectors.
The company has a very experienced and well-motivated team who are focussed on providing hands-on asset, development and financial management; it aims to deliver innovative and sustainable projects to generate a combination of long term revenue streams and capital profits from trading.
With offices in Edinburgh and London, Buccleuch Property has a market exposure of circa £250m through a UK wide investment portfolio, a commercial development pipeline in excess of 2 million sq ft and a strategic land portfolio with over 10,000 consented housing units.
The business also has interests in a number of core long term joint ventures; these include Queensbury Properties which develops contemporary new homes in the Central Belt of Scotland, Native Land, an internationally recognised property development company specialising in high quality residential developments in prime Central London and a partnership with Audley Retirement in Scotland.
With an increasing portfolio of opportunities across the UK and with joint ventures in the US and Germany, Buccleuch Property is a committed and financially sound primary investor and seasoned JV partner with the benefit of a strong balance sheet and access to long term finance.