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Commercial Property News
Gallagher plans retail park sale
Gallagher Developments has announced plans to sell one of its retail business property sites.
According to Property Week, the firm is to put the Junction 9 retail park in Wednesbury, near Birmingham, up for sale at a price of £120 million.
The group of stores, which is occupied by companies such as Argos, Currys, Boots, Ikea and B&Q, measures 200,000 sq ft and the company is currently in the process of developing another 40,000 sq ft of buildings.
Head of investment and development at Gallagher Mark Edwards was quoted as saying that the firm is going against its usual practice of selling its assets off-market due to the number of "unsolicited offers" it has received, as well as the fact that it can be purchases as either a single or three separate lots.
Gallagher plans to put the commercial property on the market next week and has appointed Cushman & Wakefield and Montagu Evans to oversee the process.
The business operates sites in numerous locations around the UK, including 11 in Coventry.
According to Property Week, the firm is to put the Junction 9 retail park in Wednesbury, near Birmingham, up for sale at a price of £120 million.
The group of stores, which is occupied by companies such as Argos, Currys, Boots, Ikea and B&Q, measures 200,000 sq ft and the company is currently in the process of developing another 40,000 sq ft of buildings.
Head of investment and development at Gallagher Mark Edwards was quoted as saying that the firm is going against its usual practice of selling its assets off-market due to the number of "unsolicited offers" it has received, as well as the fact that it can be purchases as either a single or three separate lots.
Gallagher plans to put the commercial property on the market next week and has appointed Cushman & Wakefield and Montagu Evans to oversee the process.
The business operates sites in numerous locations around the UK, including 11 in Coventry.
Fri, 5th Feb 2010