• Tesco Express

  • Background

    Markey Group has developed two mixed-use investment sites – both former petrol stations - for occupation by Tesco Express.

    The first site, at Painswick Road in Gloucester, was purchased by Markey Group and developed in a £1.6m project to create ten, two-bedroom apartments.

    On the second site, on Queen’s Road in Cheltenham, we worked with a client looking for an investment opportunity. The £2.3m scheme incorporated 12 apartments.

    The projects

    Both schemes were built by Markey Construction using a timber frame solution and meet the Code for Sustainable Homes Level 3. Situated on main roads, the developments include off-road car parking for tenants and store customers.

    Results

    The developments have generated a healthy yield of between six and six-and-a-half per cent during a period of very low interest rates and uncertainty in the stock markets.

    Tesco Express has signed a ten-year lease on the Gloucester site and a 20 year lease on the Cheltenham site.

    The apartments that form part of the Gloucester scheme were sold to a housing association whilst our client retains ownership of the Cheltenham site and benefits from on-going annual returns.

  • Tesco Express

    Tesco Express, Cheltenham

    Tesco Express

    Tesco Express, Gloucester

Markey Group
associated companies

  • Premiere
  • Park View Gloucester
  • Student Digs Gloucestershire
  • Markey Interiors
  • Markey Construction
  • Honeybourne gate

Markey
accreditations

  • Invest in people