Royal London Asset Management Property has acquired Eastern Avenue Retail Park in Romford from abrdn in a deal reflecting an initial yield of 5.5%.
The 72,000 sq ft park, which is located close to Romford town centre, is fully let to a number of national retailers including Currys, Wren Kitchens and Home Bargains.
With three lease expiries due in 2027, Royal London said the park offered a strong opportunity to capture rental uplifts while aligning with its strategy to invest in well-let assets that deliver stable, secure income and long-term capital growth potential.
Paul Nicholson, senior asset manager at Royal London Asset Management Property, said: “This acquisition marks another positive move for Royal London Asset Management Property, demonstrating our ability to deliver on our strategy and confidence in the future success of well-located, best-in-class retail assets such as Eastern Avenue.
“The park’s stable income stream, combined with real prospects for rental growth, aligns strongly with our investment strategy. Acquired off-market, this deal also reinforces our reputation as a trusted investor able to move quickly and successfully on the right opportunities.”
Royal London Asset Management Property was represented by KLM Real Estate and abrdn was represented by ESHP.
