SWIP sell Trafford Retail Park, Redditch

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.