WD Ltd, the owner of Kingsgate shopping centre in Huddersfield, has put the centre up for sale with a price tag of £36.2m, reflecting a net initial yield of 10.5%.
Constructed in 2002 by WD, the shopping centre spans over 280,000 sq ft and is anchored by Boots, TK Maxx and newly opened The Light cinema.
Kingsgate was previously anchored by House of Fraser but has been repurposed to accommodate the 70,000 sq ft The Light which opened in April this year and includes a six-screen cinema and other leisure activities.
In April Kingsgate signed a raft of lettings including a 16,000 sq ft Boots, which will open next year.
Other occupiers at the centre include JD Sports, Sports Direct, HMV, Waterstones and River Island.
The shopping centre provides a WAULT of 7.3 years to break and 9 years to expiry and generates a total gross income of £4.4m.
Cushman & Wakefield is advising the landlord on the sale.
Image: KLM Real Estate
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