Altum Capital boosts retail portfolio with Stafford acquisition

April 2016
Walworth Road, London

Altum Capital has acquired Stafford’s dominant retail warehouse development, The Hough Retail Park, for £21 million.

The 101,799 sq ft bulky goods retail park is located on the busy A34, less than a mile from the town centre and adjacent to House Leisure Park and Queen’s Shopping Park, which is the area’s prime out of town fashion destination.

Existing tenants include B&Q, Argos, SCS, Maplin, Bensons for Beds and Home Bargains. The total passing rent is just over £1.5m, which equates to an overall rent of £14.94 per sq ft. Planning permission has also been granted for a McDonald’s Drive Thru restaurant, with a proposed term of 25 years, with a tenant break at 15 years.

Jamie Naughton of ESH comments, “This deal is a good example of an opportunistic buyer taking advantage of changing market conditions and buying from a receivership situation. We think this purchase provides a solid income base of over 10 years along with some deliverable short-medium term asset management opportunities to add value.”.

ESH advised Altum Capital, Savills advised the receiver.

Press Enquiries – Ian Purvis t: +44 (0) 20 7647 4420 e: ian@porterfield.co.uk

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close