Wain Estates sells Bramhall Village Square
The 56,000 sq ft mixed-use asset, located between Ack Lane East and Bramhall Lane South, has been acquired by Sheet Anchor Commercial Property.
Wain Estates put Bramhall Village Square on the market earlier this year with a guide price of £8.8m. The parties did not disclose the ultimate value of the transaction.
Fully let to the likes of Trek Bikes, Boots, Cash Access Banking Hub, and Anytime Fitness, the complex boasts 31 units and generates £726,700 annually.
The asset will be managed by LCP Group, part of commercial property investment and management company M Core.
Wain Estates acquired the Village Square in 2011 for £5.5m before re-positioning the asset through investment into customer-facing areas, including installing a children’s play area and hosting a series of community-led events throughout the year.
Wain Estates property director Paul Wrigglesworth, said: “The Village Square is a hugely popular centre in the heart of Bramhall village.
“However, by selling now, it allows us to concentrate on Wain Estates’ core business of strategic land development and properties with value-add potential. We are pleased to hand over the reins to a respected operator like LCP.”
CBRE and Freeths advised Wain Estates on the sale.
Stephen Lewis, partner at Freeths, said: “It has been a pleasure dealing with the Wain Estates’ team, who were quick to deal with matters and provided clear instructions when required. This enabled us to meet the tight deadline set down in the heads of terms and agree this major deal.”
Metis Real Estate acted on behalf of Sheet Anchor Commercial Property.
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Hope the new owners get rid of that terrible children’s playground – what an eyesore and so dangerous – try dodging kids on bikes and scooters hurtling round the square whilst people are trying to go about their business!
By PFJ
The area is an asset for people using the shopping facilities and allows them to watch the children while enjoying coffee,lunch etc.
By Anonymous
Another Village HUB and lifeline going for what? Flatsetc
By Another Village HUB going for Flats etc