Berryden Retail Park to be sold

Mike Ashley is plotting the sale of the Berryden Retail Park in Aberdeen as part of an auction of his property portfolio.

The Sports Direct tycoon’s Frasers Group only bought the site in October 2020 in a series of nationwide acquisitions.

However, The Sunday Times reports the businessman intends to sell 16 assets – including the Aberdeen retail park, which includes Next, Home Bargains and Currys PC World.

It is reported that Mike Ashley is keen to sell the Berryden and other assets due to an upturn in interest in the properties.

The Sunday Times reports: “Retailers are using larger stores on retail parks as distribution centres and click-and-collect hubs.

“The £320 million asking price for Ashley’s retail assets represents a yield of 7%.”

The Sunday Times reports that M7 Real Estate is a potential buyer.