Acting on behalf of fixed charge revivers Legat Owen have advised on the sale of Henblas Square, Wrexham which was formerly occupied by TJ Hughes, BHS and WCBC. The scheme, which extends to some 115,000 sq ft, has been sold to MCR Property Group.
Due to the considerable interest in the scheme, which reflected a rare asset management/value add property, the sale completed following a best bids process where several bids were received.
James Lutton who handled the sale commented:-
Henblas Square offered any buyer a real opportunity to add value. The scheme has gone downhill since TJ Hughes vacated, but the town centre position coupled with the modern build means there are various angles. The level of interest was surprising, but does show the lack of value add opportunities in the market.