Standard Life check out of Spa

Standard Life, represented by ESH, have sold their freehold interest in a three unit retail park on Myton Road, Leamington Spa to Cornerstone.

Standard Life, represented by ESH, have sold their freehold interest in a three unit retail park on Myton Road, Leamington Spa to Cornerstone. The purchase price of £6,575,000 represents a net initial yield of 5.59% and is a reflection of a competitive bidding process. Thew property comprises 17,200 sq ft and is occupied by Dreams, Pets at Home and Blockbuster with lease expiries in 2020. Rents range from £22.50 – £23.00 psf although two of the units have reviews outstanding. The planning consent is for open A1 non food uses. (Jan 2011)