It's unclear what this will mean for the retail park down by the Docks 🏬
The property was let to Pets at Home and Halfords, producing an annual rent of £244,124.
Mariner’s Way, which backs on to Preston Marina, is a popular out of town retail pitch anchored by Morrison’s, with other occupiers including B&M, DFS, SCS, McDonald’s, Starbucks, Carpetright and Bensons for Beds. The sale was completed after the business plan was completed following the extension of both leases and the rebasing of rents, unlocking a full store refit by Pets at Home and recently the purchase of the freehold from Preston City Council.Glenbrook bought the long-leasehold on the site 18 months ago from Threadneedle UK as part of a £4.9m deal that also saw the company acquire St Mary’s Gate Retail Park in Rochdale.
Scott Griffiths, Investment Director at Glenbrook Investments, said: “From the moment we acquired the property in March 2021, we set about positive engagement with two high calibre tenants and Preston City Council.“After turning the risk metrics around, we identified a strong buyer and both parties delivered as promised.”
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