Primark-anchored Nottingham shopping block goes up for sale

A prime retail parade in Nottingham anchored by a 73,100 sq ft Primark store has been put up for sale for £25m. Aberdeen Standard Investments has instructed Knight Frank to sell the 85,387 sq ft city centre site, which comprises six shops, as a freehold long income opportunity. The price tag represents a 5.26% net initial yield, assuming standard purchaser’s costs of 6.76%. The site, at 4-13 Long Row and 17-25 Upper Parliament Street, is let to Primark until 2060. The retailer, which takes up the lion’s share of the 1.4-acre location, accounts for 82% of its total rental income. Other occupiers include retailers Tesco, Greggs, Ann Summers and Tui and repair shop Nottingham Mobile Solutions. The remaining five shops measure a combined 12,287 sq ft. The location has a WAULT of 33.25 years to expiry, with 32.26 years to break. To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Visit Radius to see more retail availabilities in Nottingham