Rugby Property Assets has acquired the freehold of Cavendish Walk Shopping Centre in Huyton, near Liverpool, for £1.5m from the fixed charge receivers.
The 72,987 sq ft centre, which comprises 21 retail units over two levels, generates gross income of £413,000 per annum. There is the potential for the net operating Income to exceed £400,000 per annum when voids, including the former Wilko anchor store, are re-let.
Ian Whittaker, a director in Watling Real Estate’s agency division, which acted on behalf of the fixed charge receivers Chris Walker and Andrew Foster on the sale, said: “This sale comes at a particularly exciting time as Knowsley MBC, in partnership with Genr8 Kajima Regeneration, look to progress implementing the Huyton Village Centre Masterplan which is set to deliver £200m of investment to the area. This will involve the creation of new homes, modern commercial space, a hotel, new village green and employment opportunities across Huyton.”
Addleshaw Goddard acted for the receivers and Rugby Property Assets was advised by PK3 and Broomfields.
