Tristan Capital and Addington Capital have appointed Savills to sell two prominent retail locations in Burnley, seeking more than £25.6m for the pair.
The price tag, for community shopping centre Charter Walk and neighbouring asset Curzon Square, represents a combined net initial yield of 11%. Both are marketed with scope for repositioning and development, with the ability to purchase the assets either jointly or individually.
The 280,000 sq ft Charter Walk shopping centre counts Boots, Wilko, Home Bargains and JD Sports among its tenants. It also includes an income-producing car park below ground level.
Located opposite Charter Walk, Curzon Square provides 78,689 sq ft of retail space and is let to retailers Next and Primark, both of which trade from the two floors of the building.
Both properties are situated next to the leisure-led development at Pioneer Place, which is pre-let to Reel Cinemas.
Mark Garmon-Jones, head of shopping centre investment and repurposing, said: “This is a rare opportunity to acquire two dominant town centre retail schemes, let to a strong mix of major, national retailers.”
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