Martin’s Properties has acquired the freehold interest in Bognor Regis Retail Park to add to its regional investment portfolio.

The 83,982 sq ft retail warehouse scheme was purchased from an institutional investor. Fully let to Home Bargains, The Food Warehouse, Matalan, Dreams, Halfords and a KFC drive-thru, the investment provides an annual rental income of almost £1.2m.

Located on the northern edge of Bognor Regis, the prominent roadside scheme fronts the main A29 access road and comprises six purpose-built retail warehouse units with 280 car parking spaces on a 5-acre site.

Gary Sherwin, Head of Transactions at Martin’s Properties, comments: “As one of only two out-of-town retail schemes in the area, and with over 800 new homes planned or underway within a 10-minute drive, this investment provides a great opportunity for generating rental growth through active asset management using our in-house team. We have additional cash immediately available and are actively looking to deploy into additional core plus and value-add retail warehouse and multi-let industrial assets of £5-20m.”

Richard Bourne, CEO at Martin’s Properties, comments: “This acquisition is part of the ongoing strategy to restructure our existing £115m regional investment portfolio with a focus on retail warehouse and industrial estates across the South of England, as well as a multi sector portfolio in Oxfordshire. All assets in the portfolio are in prime or growing locations and capitalise on occupational supply/demand imbalance and continued inward investment into the local area and economy.”

“The Martin’s Properties portfolio also includes a £250m prime Chelsea mixed use investment portfolio and the development of a self storage portfolio across the South and South West of England using £35m of capital.”

Martin’s Properties is a dynamic family-owned business with assets of approximately £400m. The team’s depth of expertise across investment, asset management, finance, development and operations spans many sectors and covers the whole lifecycle of buildings and real estate. As a responsible investor, Martin’s Properties creates and manages sustainable buildings that positively impact local communities, businesses and stakeholders, delivering both strong returns and exemplary customer service.

Colliers advised Martin’s Properties.

ENDS

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Notes to editors
Martin’s Properties is a dynamic, family-owned property company operating in London and the South of England. Established by the Martin family in 1946, the company has a prestigious multi-sector property portfolio worth around £400m, with assets across commercial, residential, mixed-use and self-storage. The business has investment, asset management, development and operational expertise in-house and is focused on creating and managing sustainable, well-designed buildings that enhance the local environment and deliver exceptional customer service.

For more information please visit: www.martins-properties.co.uk