Maypole Retail Park in Birmingham has been put up for sale with a price tag of £6.245m.
The site comprises a 22,344 sq ft, 60-bedroom Travelodge hotel and a parade of six retail units totalling 16,175 sq ft let to the likes of Ladbrokes, Poundstretcher and Subway.
The development, which is located on the A435 Alcester Road South, also features a 64 space car park incorporating EV charging points let to Swarco Smart Charging. It currently produces rental income of £516,122 per annum, reflecting an initial yield of 7.75%.
James Mattin, managing director of Bond Wolfe, which has been appointed to market the asset alongside Lewis & Partners, said: “The Maypole traffic island is an iconic gateway into Birmingham from Redditch and all points south of Birmingham, leading to Junction 3 of the M42, five miles south. Maypole Retail Park has a huge consumer community, located as it is between Kings Heath, Shirley and Wythall.”
He added: “The scheme occupies a highly prominent position on the Maypole roundabout, benefitting from strong roadside visibility, good parking and surrounding national retail provision including Sainsbury’s and Aldi. The investment offers an attractive blend of long-income security and reversionary potential.”
