March 29, 2018 5.35 pm This story is over 72 months old

Lincoln retail park home to Next, The Range and TK Maxx goes up for sale

Huge investment opportunity.

Valentine Retail Park stock image.

Valentine Retail Park, which features Next, TK Maxx, Asda Living and The Range, has been put up for sale for more than £46 million

The park off Tritton Road is being marketed by Lincoln-based Banks Long & Co, together with Wilkinson Williams, who say there has been ‘unprecedented levels of demand’ in the major investment.

Valentine is owned by British Land and Castle Square Developments, who are looking for offers in excess of £46.3 million, which the firms promise will result in a net initial yield of 5.95%.

The park is also anchored by Dreams, DFS, AHF, American Golf, Harveys, Costa and Carphone Warehouse.

In addition, on April 4, they will be joined by Hobbycraft.

Banks Long & Co Managing Director Tim Bradford, who is handling the investment sale, said: “This is a major disposal. It provides an investor with the opportunity to buy the best retail park, in a prosperous Cathedral city which is expanding.

“We expect to see strong interest from a wide range of buyers, including pension funds, specialist property investment vehicles, local authorities and larger property companies.

“[Lincoln] is growing at a fast rate. Infrastructure projects, such as the East/West Link Road (now completed), work underway on the Eastern Bypass, the continued growth of the University and the long-awaited major regeneration of the city centre and the Cornhill Quarter are all adding to the city’s transformation.

“Today, we align ourselves to other prosperous Cathedral cities, such as Canterbury and Exeter, and investors recognise the excellent growth potential which Lincoln has to offer.”