Preston retail park sale completed
Advisor Avison Young has completed on the sale of North Road Retail Park in Preston to a private buyer on behalf of administrators at Deloitte.
The popular destination, located just off the A6 approaching the city centre, is fully let and occupied by retailer Evans Cycles alongside leisure operator, Pure Gym.
Avison Young’s restructuring solutions team worked closely with joint administrators Adrian Berry and Michael Magnay from Deloitte LLP in handling the management of the park, whilst working towards the recently announced sale.
Alex Sweetman, director at Avison Young said: “Despite the businesses of both tenants at North Road Retail Park being significantly affected as a consequence of the Covid-19 outbreak, we are delighted to have received a healthy level of interest, demonstrating that confidence remains within the property investment market for well-located retail parks with the potential for future growth”.