A client of Aberdeen Asset Management has acquired Chippenham Retail Park, Chippenham, Wiltshire from private development company Foinavon for £11.234 million.
The 43,315 sq ft scheme comprises three retail warehouse units let to Wickes, Pets At Home and B&M Bargains with an average weighted unexpired lease term of 8.5 years. The current rent roll is £691,463 a year and the purchase reflects a net initial yield of 5.82%.
Matthew Cunliffe of Aberdeen Asset Management says: “Chippenham Retail Park offers superb rental and capital growth potential and is located prominently in an area earmarked for future housing development.”
ESH advised Foinavon.