Retail Property - Pillar to purchase Manchester park

Pillar Property has agreed to buy the Crown Point North shopping park in East Manchester. The park is being developed by Reeb Estates and Mowlem subsidiary Maple Oak. The price reflects a net initial yield of 5.75 per cent, implying a final investment value of£100 million.

The development, located on the edge of Denton town centre at junction 1 of the M67, has open A1 non-food planning consent for 19,750 sq m.

Mowbray Gill and Lunson Mitchenall are letting agents.

- Manchester: p37-42.