02-2010 Dorchester, Dorchester Retail Park

LV= Asset Management on behalf of their clients, Middlesbrough Borough Council, has acquired the long leasehold investment interest in Dorchester Retail Park, Dorchester, from Cadena (Sherborne) LLP, a joint venture between Cadena and Sherborne Land for £7,175,000. This is the third acquisition for the Fund since LV= Asset Management were appointed as Fund Manager in April 2009.

The three unit park of just over 22,000 sq ft is the main out of town shopping destination in Dorchester and is adjacent to a Tesco foodstore. It is fully let to DSG, Halfords and Dreams. Dreams recently leased the former Allied Carpets unit at £23 psf and there are rent reviews with DSG and Halfords in June of this year.

The acquisition equates to circa 6.5% on settlement of the reviews.

Edgerley Simpson Howe acted for LV= Asset Management.

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Further Details

For further information, please contact:

David Cooke: 020 7758 0404