Yorkshire retail and business park housing M&S and Dominos listed for sale for £10.5m

A retail and business park in Guisborough which houses brands including M&S and Domino’s Pizza has been listed for sale for £10.5m.

Cleveland Gate Retail and Business Park, which was developed by Ryedale Estates, was opened in 2017. Its tenants include an M&S Foodhall, B&M, Frank’s Flooring, Domino’s Pizza and Hollyhocks Café.

The sellers claim that the site generates a headline rent of over £820,000 per year, with the selling agents instructed to seek offers in excess of £10.5m. The option to split the site has also been put forward by the seller, with the option to sell the retail park for £7.5m and the industrial estate for £3m.

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The site is being marketed jointly by commercial property agents, Leeds-based Dacres Commercial and Stokesley-based Jackson & Partners.

Cleveland Gate Retail and Business Park has been listed for sale for £10.5m.Cleveland Gate Retail and Business Park has been listed for sale for £10.5m.
Cleveland Gate Retail and Business Park has been listed for sale for £10.5m.

David Jackson, from Jackson & Partners, added: “This is a rare opportunity to acquire one of the region’s most successful retail and business destinations situated in this affluent part of North Yorkshire.

“The development has seen continued growth and high levels of consumer demand due in part to Guisborough’s rapid expansion and extensive catchment. We are experiencing strong interest from a wide range of investors and hope to conclude matters in the next few months.”

The site offers almost 40,000 sq ft of retail space and 25,000 sq ft of business space, as well as parking for almost 200 cars.

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The rear of the retail park also houses 11 hybrid and light industrial units with tenants including TNT Fitness, Vet Partners, Guisborough Brewery, Finn’s Bakery and specialist dental practice, Riverdale.

Hedley Steel, from Dacres Commercial, said: “This is a modern and high-quality investment opportunity in a sought-after and growing commuter town that enjoys buoyant regional occupational and consumer demand.

“Tenants include national, regional and local occupiers and other major retailers nearby include the likes of Sainsbury’s, Boots, Aldi, Iceland and Lidl. In addition, the retail park’s VNPR data shows that between 2019 and 2023, vehicle movements increased by 23.26 per cent, with the average number of monthly vehicle movements standing at 51,335 in 2023.”

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