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
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.