Burnley shopping centre Charter Walk put up for sale

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Burnley shopping centre Centre Walk has been put for sale along with another prominent town centre retail scheme.

Charter Walk and Curzon Square have both been brought to market by international real estate advisor Savills with offers in excess of £25.6m. being sought for both schemes.

Occupying a major site in the heart of the town, Charter Walk is listed as a popular, open-air community shopping centre comprising 280,000 sq. ft and home to a range of national retailers including Boots, Wilko, Home Bargains and JD Sports.

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The scheme also benefits from a car park below ground, which generates significant income.

Charter Walk shopping centre in Burnley is now on the marketCharter Walk shopping centre in Burnley is now on the market
Charter Walk shopping centre in Burnley is now on the market

Located opposite Charter Walk, Curzon Square totals 78,689 sq. ft of modern retail space and is let to leading retailers Next and Primark, both of which trade from the two floors of the building.

The two sites are situated next to the leisure-led development at Pioneer Place, pre-let to Reel Cinemas and set to draw further footfall to the location.

The price reflects a net initial yield of 11.0%. Savills is selling on behalf of Tristan Capital and Addington Capital.

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Mark Garmon-Jones, head of shopping centre investment and repurposing, comments: “This is a rare opportunity to acquire two dominant town centre retail schemes, let to a strong mix of major, national retailers.

"Available to purchase together, or separately, the two sites offer significant opportunities for repositioning or development to enhance the existing strong tenant line-up and continue to maintain the strong occupancy.”