Investments / Meteor Centre Retail Park, Derby
Ares have sold Meteor Centre Retail Park, Derby for £30.8 million reflecting a net initial yield of 8.0%.
The property is a prime retail warehouse park of 189,702 sq ft which is let to tenants including; The Range, Wren, DFS, B&M, Pets at Home, Bensons for Beds, Jysk, McDonald’s and Costa.
It produces a current rent of £2,628,337 per annum reflecting a very affordable £13.86 psf and has a WAULT of 6.5 years to break and 7.4 years to expiry.
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Price: £30.8 million
Type: Investment Sale