ONE of Kidderminster’s retail parks has been put up for sale just under three years after it was bought by a company chaired by an ex-Dragon’s Den star.

Crossley Retail Park, which features a host of big name national stores including PC World, Halfords, Costa and Staples, is now on the market with the asking price of £46million.

Owners 90 North, whose chairman is ex-Dragon’s Den star James Caan, only completed the acquisition of the park in late 2013 in a deal worth £41.5 million.

A spokesman for the company said they regarded Crossley as a success story but felt the time was right to sell the park. It is being marketed by agents Staunton Whiteman.

Wyre Forest MP Mark Garnier described the news as an interesting development and added that a quick sale for a profit would demonstrate growing confidence in Kidderminster.

There are 14 units on the site, which are let out to 12 national retailers, with parking provision for 753 vehicles. Crossley also adjoins the Sainsbury’s store and petrol station.

The spokesman said: “90 North are asset managers. They purchase sites, make improvements to them and then sell them on. This is just normal business practice for them.

“The present tenants are happy and many have already indicated that they are very happy to stay on and extend their leases.

“It is a popular retail park and would represent a 6.6 per cent yield on the purchase price which represents a very good purchase.

“This is a success story as far as 90 North is concerned and, after three years, they see it as a good time to sell it.”

MP Mark Garnier said: “This is interesting. Some people might be surprised at the timing as in central London, property value has come down and people are reluctant to buy due to the uncertainty of Brexit.

“But I don’t think that’s significant here and opportunities in places such as Kidderminster are probably seen as a more stable investment.

“Making a 10 per cent profit in just three years would not be a bad thing. If they can sell quickly and for a profit, it would show there is great confidence in Kidderminster.

“Crossley Retail Park is a very good place and it attracts a lot of people to Kidderminster from outside the district.”