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.
📹 Take a look at @hellostok, our recently completed intelligently designed workspace of up to 58,000 sq ft in Stockport Town Centre.
In this short video, Andrew Gardiner @edwardsco_mcr talks about the space and the exciting opportunities it offers.
https://youtu.be/G3-BPE3m_zs
📰 Glenbrook Investments has completed the £3million freehold acquisition of Commercial House in Sheffield, achieving a Net Initial Yield of 12.7%.
🔗 Read more: https://bit.ly/3c77391
🎧 Our latest podcast is here.
In this episode, Shannon Conway is joined by David Lynch, Director of Development @ManCityCouncil
🔗 Listen to the full episode here: https://apple.co/3AByCkV
🗞️ Last week our Senior Development Manager Daniel Roberts attended the @benetworking West Yorkshire Development Conference.
This year's conference focused on creating a resilient housing proposition across West Yorkshire, and Daniel spoke of our BtR plans for the region.
The 2022 @Homeviews_com BTR report is out and we're thrilled to see that our schemes, @DuetSQuays and @mcr_vox, have come first and second in the UK's top 10 best BTR developments, rated for design.
🔗 Download the report here: https://lnkd.in/eUmTjB4C #BTRNews #BTR
Over £1m is being spent upgrading one of Leeds city centre’s most revered properties.
The stunning 31,400 sq ft Albion Court, on the corner of Albion Place and Lands Lane, was purchased by Glenbrook Investments in September last year.
🔗 Read more: https://buff.ly/39nqMjN
The UK BTR sector recorded a total of £650m of investment in the first quarter of 2022, according to figures from @CBRE.
Our Residential Director, Shannon Conway, joined the @insidernwest Built-to-Rent roundtable. Read what Shannon had to say here: https://bit.ly/3NAae6G
It’s been a pleasure to host the @wipnorthwest student awards @hellostok - our newly completed workspace scheme in #Stockport. We hope you enjoyed the evening!
Well done to all students who were nominated, a fantastic achievement and honour
A huge thank you to our annual student award sponsors @jmwsolicitors, @TGLPEARSON & to our hosts @Glenbrookprop - your support is very much appreciated.
🗞 We’re delighted to announce the official practical completion of @hellostok, 62,000 sq ft of workspace within Stockport’s former M&S building.
🔗 Read more via @PlaceNorthWest https://bit.ly/3Qlfi0u
🗞️ ICYMI: Back in April 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
🗞️ ICYMI: We 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
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