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Middleton Shopping Centre put up for sale with £8.45 million asking price

The shopping centre in Middleton has been brought to market with an asking price of £8.45 million.

Middleton Shopping Centre includes more than 320,000 sq ft of retail space and is currently around 93 per cent occupied.

The shopping centre, located around five miles north east of Manchester city centre, includes 87 retail units and a 430 space multi storey car park.

The site extends to 324,078 sq ft and is described as a convenience led retail destination.

Current anchor tenants include Home Bargains, Boyes, JD Gyms, Poundstretcher and Iceland. Other national brands trading at the centre include Boots, Superdrug, EE, Specsavers, Costa Coffee and Greggs.

The centre also includes a range of local independent retailers and sits close to a Tesco Extra store and petrol station.

According to property consultancy Knight Frank, which is marketing the site, the centre has completed 15 lettings and lease renewals over the past 12 months.

The shopping centre is said to serve a residential catchment of around 1.06 million people, with Middleton benefiting from links to Manchester, Salford and Rochdale employment areas.

The asking price of £8,450,000 reflects a blended net initial yield of 11 per cent.

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