The Winstanley Centre
Winstanley, Wigan
Availability
Fully let
Purchased
£1.07m
Value
£3.5m
ROI
73%
Description
The Winstanley Centre is located on Holmes House Avenue, in a residential area. The Winstanley Centre has undergone an extensive redevelopment and attracted several new occupiers including a new Co-Op convenience store, Heron Foods and Bargain Booze, who trade alongside a number of quality local and independent retailers.
More Information
About
The Winstanley Shopping Centre, located on Holmes House Avenue in Winstanley, Wigan (postcode WN3 6JA), draws on a strong high density immediate catchment and serves as a community-focused retail hub. It features a variety of retail units and services catering to local needs. Key tenants include Co-op, Heron, Bargain Booze and Boots.
Project Description
HMG acquired the shopping centre in XXXX with a view to redeveloping part of the scheme to provide further floorspace and improve the rental income. The centre was in a dilapidated state and underperforming. Co-Op convenience store occupied a unit that was too small and not conducive to modern operator requirements. Two new units of approximately 8,200 sq ft were pre let to Bargain Booze and Co-Op and were constructed at a cost of £950k. As part of the development works, the existing precinct underwent a full programme of refurbishment. This has driven rental growth throughout the scheme which is fully let. The property was recently valued at £3.5m.
