Lothbury Investment Management, acting on behalf of Lothbury Property Trust, has disposed of the freehold interest in the McDonalds and Pets at Home units on Bath Road, Brislington to Aberdeen Asset Management for £5.03 million reflecting an initial yield of 7.11%.

The property is located opposite the Brislington Retail Park, which is owned by another of Aberdeen’s funds, and is let to McDonalds for a further 14.5 years and to Pets at Home for a further 9.5 years.

The sale to Aberdeen was a strategic decision by Lothbury as the asset was no longer a core holding for the Lothbury Property Trust. Lothbury had recently completed a lease re-gear on the Pets at Home unit, extending the term by five years, which increased the asset’s liquidity.

Edgerley Simpson Howe acted for Lothbury Investment Management and HP Four acted for Aberdeen Asset Management.

Scottish Widows Investment Partnership have sold Trafford Retail Park in Redditch to Cordea Savills for £14.4 million.

Scottish Widows Investment Partnership have sold Trafford Retail Park in Redditch to Cordea Savills for £14.4 million. The price reflects a net initial yield of 6.74%.

The park comprises 61,050 sq ft of fully Open A1 accommodation let to Aldi, Pets at Home, Iceland, Poundstretcher, Home Bargains and KFC. The rental tone ranges from £15.50 to £17.33 per sq ft. An Agreement for Lease has been signed with Maplin to occupy a unit on the scheme.

Scottish Widows were advised by ESH and Jackson Criss. Cordea Savills were advised by BC Commercial.

Edgerley Simpson Howe have let a 16,000 sq ft unit on North Circular Road to Al Murad DIY. The unit was taken on a 15 year lease at £75,000 pa.

Standard Life Assurance Limited, advised by Edgerley Simpson Howe, have let a 7,068 sq ft unit at Princess Alice Retail Park in Sutton Coldfield.

Standard Life Assurance Limited, advised by Edgerley Simpson Howe, have let a 7,068 sq ft unit at Princess Alice Retail Park in Sutton Coldfield to 99p Stores.

99p Stores have taken a 10 year FRI lease at a rent of £225,000 pa.

TK Maxx have agree to extend their lease at Gallions Reach Shopping Park in Beckton

TK Maxx have agreed to extend their lease on a 30,000 sq ft unit at Gallions Reach Shopping Park in Beckton. The lease term will therefore now extend to September 2024.

Edgerley Simpson Howe advised the Landlord Standard Life Investments.

Poundstretcher regear their lease at Pallion Retail Park, Sunderland until September 2023.

On behalf of SWIP, Edgerley Simpson Howe have successfully regeared Poundstretcher’s lease at Pallion Retail Park in Sunderland.

Poundstretcher’s lease has now been extended by an additional 5 years which brings their expiry to 27th September 2023.

The scheme is soon to benefit from a new bridge which will cross the River Wear directly to the north of Pallion Retail Park. This increased flow of traffic directly past the scheme will further enhance the park as a key retail destination for the area. For further details please visit http://www.newsunderlandbridge.com/.