Hortons Estate has sold a retail parade in Wolverhampton city centre to London-based investor Tri Capital in an off-market deal.
The Dudley Street property, which changed hands for an undisclosed sum, comprises eight shops plus offices, totalling 69,519 sq ft.
The shops are leased to tenants including as Metro Bank, Starbucks, Lloyds TSB and Cancer Research, while the former Sports Direct store is available for rent.
Hortons owned the property for over 60 years. The sale is part of the company’s strategy to divest from non-core assets and reinvest the capital into projects in its current portfolio, along with potential acquisitions.
Earlier this year, Hortons sold the neighbouring Castle Yard retail parade to a private investor for £2.7m.
Birmingham-based Hortons manages 6m sq ft of assets, valued at £230m.
MK2 Real Estate acted on behalf of Hortons.
Photo from MK2 Real Estate
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