Investments / Colchester Retail Park
Buccleuch Property has completed its first significant investment into the retail warehouse market buying Colchester Retail Park from Abrdn.
The scheme is located on the edge of Colchester town centre and is let to Matalan, Go Outdoors, Shoe Zone, Matha Supermarket, Pure Gym, Subway and Starbucks. The scheme is approximately 62,000 sq ft and produces a rent of £1.1 million per annum, showing £17.75 psf overall. The £13.1 million price reflects an initial yield of 7.85%.
Buccleuch completed the purchase using funds raised through a £150 million private placement in 2021.
Philip Eves, Director of Buccleuch, commented “We are extremely pleased to have successfully completed our first retail warehouse park acquisition and we are seeking further similar opportunities. We expect to be active this year.”
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Type: Investment Purchase