...but prospective buyers will need deep pockets
Coventry’s Gallagher Retail Park has been put for sale for a whopping £55 million, it has been reported.
The popular shopping park which boasts the likes of Argos, TK Maxx and McDonald’s has been put on the market by owners Tristan Capital Partners.
They have instructed Harvey Spack Field to sell the 180,000sq ft site, which has a total of 18 shops and food outlets.
It is understood that agents have just begun marketing the site for £55.4 million, with bids yet to be called in.
The park, which is managed by Savills Investment Management who operate around 12 parks on behalf of Tristan, is one of five main retail parks in and around Coventry totalling 1.8m sq ft.
Costar.co.uk reports that Gallagher Retail Park was refurbished in September last year and has recently secured new tenants including Costa, Aldi and floorings chain Tapi.
The report also says that JP Morgan Asset Management last week exchanged contracts to buy The Precinct - the area from the Lower Precinct towards the bottom of Broadgate -from Aviva Investors for £31.1million.
"Rats leaving a sinking ship" springs to mind.
