Orbit Developments, through its investment business North West Portfolio, has acquired Central Retail Park in Bolton.
The scheme extends to 86,521 sq ft across seven units anchored by retailers B&M, Iceland and Pets at Home and benefits from 305 free on-site car parking spaces.
Central Retail Park, located on Manchester Road in Bolton, adds to Orbit’s existing retail park portfolio in the area which includes Middlebrook Retail & Leisure Park and Burnden Retail Park.
The retail park was acquired from Savills Investment Management. The sale price was undisclosed.
Just over 20,000 sq ft is currently vacant at the park, where quoting rents are £10.00/sq ft with B&M, Iceland and Pets at Home representing 77% of the income. Paul Hubball, Director at Orbit said: “Central Retail Park represents further investment into the Bolton area following our recent purchase of Orlando Bridge, office premises on Thynne Street.
He adds: “Central Retail Park represents Orbit’s first acquisition in Bolton town centre. By applying our expertise and professional approach, we will enhance the retail park for the benefit of the occupiers and customers.”
Orbit was advised by Petch & Co on its purchase.