West Yorkshire leisure park sold for £18m
Urban&Civic, the property development and investment company, has completed the sale of a Bradford leisure park for £18m.
Gallagher Leisure Park, located two miles east of Bradford city centre, currently comprises a 13-screen Odeon Cinema and a Pure Gym site.
Planning consent has been given for the addition of two new restaurant units and a further two drive-thru restaurants, which have been pre-let to KFC and Costa, are currently under construction.
The £18m sale of Gallagher Leisure Park represented a purchaser’s yield of 6.2%.
The sale is also expected to give rise to a profit over 30 September 2017 book value in excess of £1m for Urban&Civic.