A retail and leisure development in Leeds that includes Aldi and B&M stores, a Costa coffeeshop and McDonalds restaurant is now on the market, following its recent completion.
St Georges Retail Park – a partnership between Commercial Development Projects and Rothstone Estates – is located on Middleton Ringroad, Middleton, and has transformed this nearly six-acre brownfield site into a new retail-led destination.
Mason Partners and Savills are now marketing the completed development with a guide price of offers over £18 million for the freehold of the site, showing a return of 6.35 per cent.
A wide range of businesses are now based at St George’s Retail Park including B&M, Aldi, McDonalds, Costa, Greggs, Subway, Harrison Family Vets, Card Factory, The Extra Care Charitable Trust, Sbarro and Vendor Guarantee.
The development has regenerated the former Leeds City Council bus depot in Middleton and was granted planning permission in 2019. All the buildings have been built with sustainable features, with extensive landscaping across the site.
Mark Rothery from Rothstone Estates said: “We are proud to have delivered St Georges Retail Park and it’s testament to the great location and quality of the development that we have attracted these fantastic businesses here. It has regenerated a former derelict brownfield site and will provide a major economic boost to the local area.”
Freddie Guest from Savills added: “Savills is delighted to bring this prime convenience and food led retail warehouse investment to the market. The investment offers a highly attractive income profile with a weighted unexpired term of over 15 years and boasting excellent ESG credentials.
“We expect this opportunity to appeal to both the UK and global investor audiences, with the scheme perfectly positioned to take advantage of the strong rental growth prospects being witnessed in the retail warehouse sector at this time.”
