Wilkinson Williams

We were instructed by Town Centre Securities to sell their freehold interest in the Currys PC World Megastore on Kingsway Retail Park in Derby.

The property has a ‘restricted non-food’ planning consent and comprises a standalone purpose built retail warehouse unit totalling 20,078 sq ft with an extensive trading mezzanine. The unit is let to DSG Retail Ltd for a 25 year lease expiring in December 2022 at a rent equating to £17.02 per sq ft. Following a successful extensive marketing campaign several bids for the property were made resulting in Shipley Estates purchasing the property for £5,015,000 which reflected a 6.44% net initial yield, ahead of the asking price of £4,785,000.