Independent out-of-town agent XPROP, on behalf of Bradda Capital, has completed the sale of Mansfield Retail Park, Nottingham for in excess of £7m.
GPLI acted on behalf of an active private client as they further diversified their portfolio.
Comprising 37,955 sq ft of retail warehouse occupied by Go Outdoors, Carpetright and Topps Tiles this investment offers over 12 years of income security, a large proportion of which is guaranteed by JD Sports Fashion PLC.
The property has a dominant trading position fronting Mansfield Road (A60) in a thriving roadside, retail and commercial area to the North of Nottingham City Centre.
David Griffiths, director, GPLI, says: “We are delighted to have secured this investment on behalf of a private client. In a period of permacrisis, the long term stability and consistency of income offered by this investment demonstrates one of the core advantages of commercial property.
“As our client continues to diversify their portfolio we look forward to securing more opportunities across sector and across the UK.”
David Phillips, Managing Director of Bradda Capital, said: “We are very pleased to have closed the sale of this property bought for income 12 years ago and generated a gross IRR of 17.5%. This is a fantastic result and a testament to the quality of the assets that we target – and the execution capability of our team.”
