DTZ Investors has sold Linkway Retail Park in Cannock and St John’s Retail Park in Wolverhampton in two separate transactions for just shy of £33m.
The fully-let Linkway Retail Park, which offers 106,431 sq ft of space across 10 units, was sold to a French SCPI represented by Sienna Investment Managers for £16,450,000 in a deal reflecting a net initial yield of 7.2%.
The 111,598 sq ft St John’s Retail Park, which comprises nine units on an 8-acre site, was sold to the Brookhouse Group, represented by Staunton Whiteman and CSP, for £16,500,000 in a deal reflecting a net initial yield of 7.4%.
Ben Haller, director at DTZ Investors: “These assets are no longer aligned to fund strategy with a decision to sell and reallocate the capital into higher quality retail warehouse opportunities. This ties to our recent purchase of Anchor Retail Park in Mile End for £37m and with continued appetite for further acquisitions.”
HampsonWall acted for DTZ Investors.
