Albemarle has sold a mixed-use retail parade in Milton Keynes to a private investor for £3.4m.
The fully let, circa 28,000 sq ft property at Queensway, Bletchley, comprises 13 ground floor retail units and 12 residential apartments, and generates an income of just under £300,000 per annum.
Nick Bosworth, leading agency surveyor at Kirkby Diamond, said: “We are delighted to have successfully sold this investment for Albemarle. This was a substantial investment opportunity that generated significant interest. In fact, it represents the largest mixed-use investment sale in Milton Keynes over the past 12 months, highlighting Kirkby Diamond’s ability to offer strategic pricing advice, identify a suitable purchaser within a short timescale, and to manage the sale through to completion.
“This sale further reflects the ongoing demand for well-priced, income-generating local retail investments that offer potential for value enhancement through active asset management. Our Bedford office has also recently completed the sale of large retail blocks with redevelopment potential, underlining continued investor confidence in the sector.”
Investmark acted on behalf of the purchaser.
