ESH have respresented a Fund client in the disposal of Gateway Retail Park in Cheltenham to Pears Property. The asset comprises a 36,557 sq ft retail park let to Currys, Smyths Toys, and Caffe Nero. The disposal completed at a price of £8,860,000, reflecting a 7.4% NIY.

Get in touch with one of the investment team for more details.

ESH acting on behalf of our client CBRE Capital Advisors (Teesside Pension Fund) have completed a new letting to Superdrug at Tonbridge Retail Park.

Superdrug will occupy the former Carpetright unit which extends to approximately 6,330 sq ft GIA and the agreed deal represents an uplift from the previous passing rent.

For further information please contact Tim Hornor

Aberdeen, represented by ESH, have disposed of Eastern Avenue Retail Park in Romford to Royal London Asset Management. The asset comprises a 71,581 sq ft retail warehouse park let to Currys, Home Bargains, Wren Kitchens, Burger King and Costa. The disposal completed at a price of £26,850,000, reflecting a net initial yield of 5.50%. KLM represented the purchaser.

ESH are delighted to have represented CBRE IM in the disposal of the Sainsbury’s in Halifax to ICG. The asset is a 91,473 sq ft purpose built foodstore with a 12 pump PFS, let on a lease until 2038.

The disposal completed at a price of £42,750,000, reflecting a net initial yield of 6.08%. CBRE represented the purchaser.

ESH represented Swiss Life Asset Management in the disposal of the Matalan in Redditch to a private investor. The asset is a solus unit of 37,542 sq ft with a recently regeared lease to Matalan, let until May 2034. The purchase completed at a price of £5,670,000 reflecting a net initial yield of 8.27%.

ESH have completed a letting to Dreams at Angouleme Retail Park in Bury on behalf of our client, Picton Capital.

The national bed retailer has opened a brand new 10,000 sq ft store alongside the existing line-up of TK Maxx, Argos, JYSK and JD Gyms.

It follows the recent lease extension with TK Maxx and takes the Park back to being fully let, with minimal void period in between!

For further information please contact Adam Patrick or Giles Pickford.