Acting on the instructions from the Joint Fixed Charge Receivers(T.Webb & T.Perkin of CBRE) the LPA Receivers, the Capital Markets team at CBRE has completed three investment sales at The Wicker Centre in Sheffield. The firm has just sold Unit 6, a 27,828 sq ft unit let to Just Car Clinic for £1.375m representing a Net Initial Yield of 10.7%, to a private buyer, advised by Crosthwaite Commercial. This follows the recent sales of Unit 1 to Unimerco for £600K and Units 2-5 to a private Sheffield developer for £275K along with joint agents Eaton Commercial.
The properties are located on a highly prominent site on a primary route between Sheffield City Centre and Meadowhall Shopping Centre with easy access to the M1.
Associate Director of Capital Markets at CBRE in Leeds, Robin Bullas, said; “The sale of The Wicker Centre properties represents a fantastic investment for the purchasers; based in a significant location and renowned as one of the main motor trade locations in the city, other nearby motor trade occupiers include Land Rover, Mini, Ford, Vauxhall and Nissan. Furthermore a new 24 hour Tesco Extra opened at the end of last year enhancing the location and traffic flow.”