Guinness is putting Meole Brace retail park in Shrewsbury, Shropshire, on the market for more than £20m, reflecting an initial yield of 4.5%.
The 12,077 sq m (130,000 sq ft) scheme, which was developed by Chartwell Land about five years ago, was let at rents of around £80.73 per sq m (£7.50 per sq ft). But later deals have been struck at figures of closer to £139.93 per sq m (£13 per sq ft).
A series of rent reviews are due in the next 12 months which could put the equivalent yield at closer to 6.5%. Tenants at the park include Halfords, Do It All and Carpetrite.
Savills is advising Guinness.
EGi News 27/11/96
