Glenbrook Investments has completed the £6.6million acquisition at Newport Retail Park in Gwent from Regional REIT, achieving a Net Initial Yield of 7.5%.
Located on The Avenue, the 7.5-acre site comprises a 40,998 sq ft Matalan store, a 14.772 sq ft Peugeot car showroom and a remaining 2.47-acre development plot.
Over the last 12 months alone, Glenbrook has completed £74million worth of investment transactions including the £4.625million disposal of Eastgate Retail Park in Lancashire to Threadneedle and the £11.4million Valley Road Industrial Estate in Merseyside to Schroders.
Speaking about the purchase, Chris Lloyd, investment director at Glenbrook commented: “This is an exciting opportunity to expand the Peugeot car showroom and speculatively develop a trade counter or last mile logistics scheme.
“Newport has really benefitted from some fantastic infrastructure investment that will support both residential and commercial development over the next five years.”
Justin Millett, lead director at JLL Cardiff, which advised Glenbrook, continued: “The property is strategically located adjacent to a regionally dominant shopping park and the major Glan Llyn mixed use regeneration scheme and there is a significant opportunity to add value to the asset through repositioning and proactive asset management. JLL already has an existing relationship with Glenbrook in the North West and we are pleased to have helped them to grow their footprint into South Wales.”
Gerald Eve advised Regional REIT.
Our game-changer for the Stockport office market is really coming together. Hello STOK!
🚧 Here’s a sneak peek at progress so far…
🔗 http://stok.uk.com
Glenbrook Investments has bought Newport Retail Park
for £6.6m from Regional REIT.
Justin Millett at @JLL, which advised Glenbrook: "There is a significant opportunity to add value to the asset through repositioning and proactive asset management."
Glenbrook buys £6.6m Newport Retail Park - Glenbrook Property
www.glenbrookproperty.co.uk
🗞️ We've submitted a detailed planning application to @leedscc_news as part of a joint venture with @tcs_plc for the £280m full masterplan for the development of Whitehall Riverside in Leeds City Centre.
🔗 Read more about the proposals: https://bit.ly/3yfFlQ9
🗞️ An exciting day as we submitted a new detailed planning application to Leeds City Council for a 618 apartment build to rent scheme on the banks of the River Aire.
🔗 Read more here: https://bit.ly/3xjwyMO
We are continuing to support grassroots motorsport in 2022 with the sponsorship of the Mini Cooper Rally Championship.
#glenbrook #minirallychallenge2022
“This new, modern and open-plan workspace will support the collaborative way in which we work as a team and with our extended partners.” Ian Sherry, director of Glenbrook.
Read more about our office move, here: @PlaceNorthWest @BruntwoodWorks
Place North West | Glenbrook swaps Clarence House for Union Manchester base
The developer has taken up residence at new headquarters on Albert Square in the city centre.
www.placenorthwest.co.uk
We’re pleased to see the sale of DUET at @MediaCityUK from @MoorfieldGroup to Mayfair / Swiss Life successfully concluded.
It’s a first-class scheme that we are particularly proud to have delivered with our friends at Moorfield.
#BTR #SalfordQuays #DUET
Place North West | Salford Quays BtR scheme changes hands in £74m deal
Swiss Life Asset Managers has entered the UK residential market, acquiring the 270-apartment Duet from Moorfield Group.
bit.ly
Interesting discussions @PlaceNorthWest net zero conference @sim_manchester with @changingstreams it’s not all about carbon. how are you reducing your plastic use? #netzero
Working with @castlefieldgall we commissioned artist @tasha_whittle to reinvigorate an underpass, on Cornbrook Road, near our @voxmcr development.
Photos: @joeolismith & @jodyhartley #manchester #mural #artwork #artist #mcrstreetart #development #collaboration
Located in the heart of Media City, Duet offers stunning waterside views and is consistently ranked amongst the Top 3 BTR developments to occupy in Manchester. The 270 apartments come with a design-led residents’ lounge, events space, private garden, and gym.
Did you know you can also follow us on Instagram & Linkedin? #glenbrook