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Trump puts Mersey retail centre up for sale for £3m

A Liverpool city region village shopping parade whose tenants include Marks & Spencer and Specsavers is being sold at auction by owner Trump Estate Holdings. Tony McDonough reports

Cloisters
Cloisters Shopping Centre in Formby Village is to be offered at auction

 

A Merseyside shopping parade is up for sale at auction with offers being sought in excess of £3m.

Property firm Acuitus has included the Cloisters Shopping Centre, whose tenants include Marks & Spencer and Specsavers, in its next online auction on Thursday, December 12, at 1pm.

A London-best company, Trump Estate Holdings, is selling the property. LBN has confirmed this entity has NO connection with US President-Elect Donald Trump. The Trump family does have a commercial property portfolio in the UK.

And, of course, Formby is a renowned location for golf with the Open venue, Royal Birkdale, nearby. However, a legal representative of the vendor confirmed his client had no connection with the Trump family and was “just a coincidence”.

Located in the centre of Formby Village, cloisters will be offered at a guide price of £3m-plus. It comprises a Marks & Spencer food hall, nine shops (eight let and one under offer), a vacant former health centre over the entire first floor and large car park

Annual rental income from the parade is £332,859, with potential to rise to £347,859. Marks & Spencer alone currently pays more than £120,000 a year in rent. The retailer has just signed a lease extension taking it to 2027.

Other tenants include Simply Food, Specsavers, Savers Health and Beauty, Oxfam and the British Heart Foundation. There is also a 7,389 sq ft space, formerly occupied by a heart centre, that is suitable for a variety of uses.

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David Margolis of Acuitus said: “Cloisters Shopping Centre offers a great investment opportunity, boasting a prime location in an affluent neighbourhood, a selection of well-known stores for its local residents, and a strong rental income to investors.”

The Acuitus auction will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.

The post Trump puts Mersey retail centre up for sale for £3m appeared first on Liverpool Business News.

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