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Alexandra Retail Park

Alexandra Retail Park, Tunstall, Stoke-On-Trent 

A fully-let strong trading out-of-town retail scheme in the heart of the Potteries.

Metis acquired Alexandra Retail Park in Tunstall town centre for Columbia Threadneedle in an off-market transaction for £18m in June 2015.

An attractive discount

Metis simultaneously sub-sold the PCT to Assura HC Ltd for £6.4m at a strong cap rate that raised the overall entry yield on acquisition to in excess of 7%. This showed an attractive discount to the long term pricing for well-let retail warehouse park investments in the UK’s major regional cities.

Strong trading performance

Alexandra Park is a very modern and well-designed out of town retail scheme positioned on the edge of Tunstall town centre. Extending to 9,382.85 sq. m. (100,997 sq. ft.) in ten well-configured units the park trades well and boasts an enviable national multiple line-up, including DW Sports; Supersavers; Carphone Warehouse; Costa Coffee; Home Bargains; Iceland; Boots; Card Factory; Barnardos and Stoke-on-Trent PCT. Despite the quality of the line-up, rents are very modest averaging only £12 psf, offering real growth potential. The income is also very secure, offering an attractive WAULT of over 14 years.

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