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Hinton Group has transferred its stake in Copcut Business Park, located in Droitwich, to new owners. The roadside retail development has been acquired by the St Johns Property High Income Fund, managed by MK2.
The development, which will feature a supermarket and drive-thru facilities pre-let to Sainsbury’s and Costa Coffee, is set to secure 15-year leases for 4,500 sq ft and 1,800 sq ft respectively. This arrangement is expected to generate an annual rental income of £265,000.
Construction is underway, with Hinton Design & Build Ltd. managing the project. Completion is anticipated in early 2025.
Mark Rooke, director at MK2, commented, “High-profile forward-funding opportunities like this don’t come up too often. It’s great to have secured this for St Johns.”
Richard Bryan, fund manager at St Johns, added, “We appreciate Mark Rooke at MK2 for sourcing this off-market opportunity and introducing it to us. It’s a valuable addition to our portfolio.”
Atlas Real Estate provided advisory services to Bromsgrove-based Hinton Group during the transaction.
