Mercury Property Fund (MPF) has confirmed that it has bought the Alban Retail Park on Winnick Road, Warrington for £18.9m reflecting a 5.12% initial yield.
The 132,000 sq ft scheme currently generates a passing rent of £998,425 pa from five tenants comprising DIY, Halfords, Textile World, Childrens World and Allied Carpets.
MPF’s Chris Lacey believes the Park has further development potential including the demolishing and rebuilding of the vacant restaurant unit.
EGi News 12/03/97
