The Cannock Gateway Retail Park has been acquired by a private investor, marking a major commercial property transaction valued at £10.25 million.
This acquisition highlights the investor’s confidence in the retail estate, which was formerly managed by Birmingham property group Hortons.
A significant commercial transaction was concluded as Birmingham-based property group Hortons sold the Cannock Gateway Retail Park for £10.25 million. This strategic divestment was made to a private investor, marking a substantial shift in ownership. The retail estate features nearly 38,000 square feet of space, catering to various businesses and includes a drive-thru accommodation and an electric vehicle charging station.
The retail park is home to a variety of well-known brands, fully let to prominent tenants such as TK Maxx, Costa, Burger King, Sofology, and MFG EV Power. This makes it a thriving hub for both retail and leisure activities, enhancing its attractiveness to investors.
Cannock Gateway Retail Park occupies a 4.4-acre site, strategically positioned off Churchbridge Island and in proximity to the M6 Toll motorway. The location has been pivotal in its development success, offering convenient access to a large number of potential customers.
The site was acquired by Hortons back in 2013 and subsequently transformed into the retail park by 2015.
This development revitalised an area that lay dormant for over 30 years, contributing positively to the local economy.
Harry Young from Hortons remarked on the development by stating, “Our development of Cannock Gateway Retail Park has delivered a high-quality retail and leisure experience that has greatly supported the local economy.”
The sale of Cannock Gateway Retail Park forms part of Hortons’ strategic approach to reallocate capital for other future projects. This strategy embodies the firm’s foresight in navigating emerging market trends.
Harry Young further elucidated that this transaction provides Hortons with the capital required to channel funds into forthcoming ventures and new acquisitions.
Atlas Real Estate, Gateley Legal, and Parker & Co played instrumental roles in facilitating the sale.
Their advisory services ensured a seamless transaction process, safeguarding the interests of all parties involved.
Their expertise highlights the crucial role that experienced advisors play in complex commercial property deals.
For the new private investor, Cannock Gateway Retail Park represents a lucrative opportunity with substantial income potential. The existing tenant mix offers financial stability and potential for growth.
Investors are attracted by the property’s fully let status and the presence of renowned brands, which implies sustained rental income and reduced vacancy risks.
Cannock Gateway Retail Park continues to bring value to the community, supporting local employment and contributing to regional economic growth.
The sale of the Cannock Gateway Retail Park signifies a pivotal moment for both Hortons and the new investor. It underscores the dynamic nature of commercial real estate transactions within the West Midlands and promises continued economic contributions to the area.
