Cheshire leisure changes hands

Published:  24 May, 2017

Stockton Heath leisure scheme sells for 9.5m

Clients of LRE Capital have sold the Victoria Buildings leisure scheme in Stockton Heath, Cheshire to Columbia Threadneedle Investments for 9.5m, reflecting a net initial yield of 6.44 per cent.

The investment comprises 31,333 sq ft of leisure, retail and ancillary accommodation, arranged across 10 units with additional external terraces. Tenants include Piccolino, Pizza Express, The Slug and Lettuce, Anytime Fitness, Toni & Guy and Le Bistrot Pierre. The current net rental income is 653,147 pa with a WAULT in excess of 14 years.

The vendor was advised by Hartnell Taylor Cook and Capita Real Estate. The purchaser was advised by KLM Retail.

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