Mount Street Retail Park sold in multi million pound deal

Mount Street Retail Park has been purchased by M7 Real Estate in a multi million pound deal.

The retail park is made up of Matalan taking 31,424 sq ft, Colour Supplies Ltd 15,562 sq ft and Euro Car Parts 8,009 sq ft.

NewRiver purchased the park in 2014, and has now sold it along with a retail park in Saltney for a combined £12.3m .

Saltney Retail Park comprises a 48,200 sq ft retail warehouse with 380 car parking spaces which is let to Go Outdoors since its acquisition by NewRiver in July 2015.

M7 Real Estate describe themselves as ‘one of the leading specialists in the pan-European, regional, multi-let real estate market’ with around 1400 assets worth £7.1bn.

NewRiver REIT Plc specialises in buying, managing and developing retail and leisure assets in the UK, and have a £1.9bn portfolio that includes 34 shopping centers and 19 retail parks.

Charles Spooner, NewRiver Director, said: “We are delighted to have completed the profitable disposal of these two assets, in turn disposing of the final asset in the Linear portfolio.

“This portfolio, which was our first investment into retail parks, has delivered an attractive return over its period of ownership and we have profitably recycled these assets over the past few years. These latest sales, ahead of March and September 2018 valuations, provide further evidence of the liquid market for conveniently-located retail assets with a small lot size.”