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Nottingham warehouse sold for £7m

Independent agent XPROP, on behalf of Bradda Capital, has completed the sale of Mansfield Retail Park, Nottingham for over £7million.

GPLI acted for an active private client as it further diversified its portfolio.

Comprising 37,955 square feet of retail warehouse occupied by Go Outdoors, Carpetright and Topps Tiles, this investment provides over 12 years of income security, much of which is backed by JD Sports Fashion PLC.

The property has a commanding commercial position facing Mansfield Road (A60) in a thriving traffic, retail and commercial area north of Nottingham city centre.

David Griffiths, Director of GPLI, said: “We are delighted to have secured this investment on behalf of a private client. In times of permanent crisis, the long-term stability and regularity of income offered by this investment demonstrates one of the main advantages of commercial real estate.

“As our client continues to diversify its portfolio, we look forward to capturing more opportunities across all sectors and across the UK.”

David Phillips, Managing Director of Bradda Capital, said: “We are very pleased to have completed the sale of this property purchased for income 12 years ago which has generated a gross IRR of 17.5%. It’s a fantastic result and a testament to the quality of the assets we’re targeting – and our team’s ability to execute.