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West Midlands retail park sold for £27.6m

2025-03-19 15:41:34 By

Orbital Retail Park in Cannock

A retail park has been bought for £27.6 million.

Clearbell Property Partners has sold Orbital Retail Park in Cannock to British Land.

The park, next to the M6 Toll south of the town centre, spans 123,215 sq ft of retail space across 11 stores and counts Aldi, Pure Gym, M&S Foodhall and Boots among its tenants.

It is also adjacent to a Sainsbury's supermarket and the town's Gateway Retail Park.

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British Land is taking forward the asset management of the scheme and said it was in advanced discussions over a new flagship unit in the current Homebase store.

Toby Saul, asset management director at Clearbell, said: "Over the last four years of ownership, we have worked to continuously improve the tenant mix at Orbital.

"Through this active asset management strategy, we have been able to secure several strong new tenants, including anchor tenant Aldi, that has seen footfall increase consistently.

"We are very pleased to have been able to sell to British Land who have the experience and expertise to take the scheme forward."

Kelly Cleveland, head of real estate and investment at British Land, added: "This latest acquisition further solidifies our market leading position in retail parks as we continue to deliver on our strategy of recycling capital into this sub-sector.

"Retail parks remain the preferred physical retail format for an increasing number of retailers due to their affordability, adaptability and accessibility.

"We are nearly fully let across our parks portfolio and continue to see strong competition for this type of space."

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Commercial Property2025-03-19 15:41:34

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Commercial Property2025-03-19 15:41:34

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Commercial Property2025-03-19 15:41:34

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Commercial Property2025-03-19 15:41:34

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Commercial Property2025-03-19 15:41:34

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Commercial Property2025-03-19 15:41:34

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