Tuesday, August 11, 2020

Huddersfield retail park sold to South African buyer

Advisor Avison Young has completed the sale of Gallagher Retail Park in Huddersfield to a private South African buyer on behalf of Administrators at Deloitte.

Located off Wakefield Road, the destination is fully let and home to brands including M&S, McDonald’s, Aldi and Home Bargains. Permitted occupiers have remained open to serve the local community over the course of the COVID-19 outbreak.

Avison Young’s restructuring solutions team worked closely with Adrian Berry and Michael Magnay, the joint administrators of Marcus Worthington Properties Limited, in handling the management of the park whilst working towards the sale.

Alex Sweetman, director at Avison Young said: “The retail park is home to a great mix of retailers committed to serving the town. We’re naturally pleased to have received a healthy level of interest from both private and institutional investors, particularly during the COVID-19 outbreak, demonstrating the confidence that remains within the property investment market for well-let retail assets.”

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