Oppenheim pays £10.9 million for Mercia Square
German fund manager Oppenheim Immobilien has bought Mercia Square in Chester in a£10.9 million deal. The shopping mall comprises six retail units and an office suite on Frodsham Street. It is located in the city's retail core, close to the main tourist attractions.
The property is fully occupied, with tenants including The Officers Club, Superdrug, Halifax and Sports Soccer. The passing rent of£650,000 a year will rise following the completion of current rent reviews. Jones Lang LaSalle represented the purchaser and Tushingham Moore acted for the vendor, Royal London Asset Management
Jones Lang LaSalle national director Jonathan Mills said: 'This property represents an excellent opportunity to acquire well configured, high street retail units in one of the UK's top retailing centres.'
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