The Grosvenor Centre, 27-29 Market Place, Macclesfield | Property for sale | Savills
Guide price £3,750,000(€4,250,741)

The Grosvenor Centre27-29 Market Place, Macclesfield

  • Sole agency
  • Freehold
Retail

Key features

  • Interested Parties will bid via a set deadline (5th Nov) on an auction contract
  • A freehold shopping centre located in the heart of the town centre
  • The Grosvenor Centre underwent £10 million extension and refurbishment in 2018
  • Key anchor tenants include TK Maxx (27,776 sq ft) and Boots (20,456 sq ft)
  • The scheme extends 131,580 sq ft (12,224 sq m) across 39 units
  • Low capital value of £28.49 per a sq ft on guide price
  • Strong WAULT of 4.39 years to expiry and 3.05 years to break
  • Value-add opportunities through leasing of vacant units and improving occupancy
  • Investment let at £885,398 per annum (23.61% GIY on guide) Part vacant
  • Vacant unit ERV - £168,585 = Potential Gross income - £1,053,983 - 28.10% GIY

A freehold shopping centre located in the centre of Macclesfield amounting to an approx. 131,580 sq ft (12,224 sqm) across 39 units. Asset management potential in letting out the vacant units. Investment let at £885,398 p.a. (Part vacant - ERV on vacant units £168,585 = total potential Gross income £1,053,983)

About this property

  • Email: nicholson.boyd@savills.com for access to the legal pack The Grosvenor Centre occupies a central location in the main retailing area, forming the town’s dominant retail destination. It is complemented by surrounding high street locations such as Chester Gate, Mill Street and Market Place, providing a mix of independent and high street retailers. The scheme comprises 131,580 sq ft (12,224 sq m) of retail accommodation across 39 units, arranged predominantly on a single level around three covered malls, together with a market hall operated by Cheshire East Council. In 2018, the scheme underwent a comprehensive refurbishment and extension, providing a further 50,000 sq ft of retail accommodation and forming the home of the anchor tenant TK Maxx. More recently, Macclesfield’s indoor market has benefitted a £1.2 million refurbishment by Chester East Council, revitalising and enhancing the offering for the local occupants. In Q4 2024, Macclesfield town centre vacancy rates were below the PROMIS centre average and had shown improvement when compared with Q4 2023.

Local information

  • Macclesfield is an historic and affluent market town in Cheshire East, located just 16 miles south of Manchester, 32 miles east of Chester and adjacent to the Peak District. Macclesfield, historically dominant in the UK silk and textile industry, has been replaced with other industries including, science, technology, and service sectors.
  • Macclesfield Railway Station is a key transport hub in the town centre, located just a short walk from The Grosvenor Centre. Positioned on the Stafford–Manchester branch of the West Coast Main Line, it offers fast and direct connections, reaching Manchester Piccadilly in as little as 22 minutes and London Euston in under two hours.

Additional information

  • Tenure
  • Freehold
  • Accommodation
  • Please refer to the accommodation and tenancy schedule
  • A PDF version of the Accommodation and Tenancy schedule has been uploaded to key documents
  • Tenancy
  • Please refer to the accommodation and tenancy schedule
  • A PDF version of the Accommodation and Tenancy schedule has been uploaded to key documents