Investments / Rockspring buys Maskew Retail Park, Peterborough
Rockspring Property Investment Managers, who are being advised on the asset by Westmount Real Estate, have acquired Maskew Retail Park from Chambers Street Properties for £37m, reflecting an initial yield of 6.25%.
Maskew Retail Park in Peterborough comprises 145,000 sq ft of space over three units and is currently fully leased to leading retailers Matalan, B&Q and Argos. The acquisition of the park is the first investment for Rockspring’s UK Value 2 fund, which recently held its second close bringing total equity raised to £100m, and is on target to meet the projected £300m equity raise for its final close.
Richard Bains at Rockspring, said: “Maskew Retail Park fits in perfectly with the fund’s core plus, value-add strategy. It is a high quality, low risk retail property that will not only generate strong rental returns but offer value growth potential.
Price: £37 million
Type: Investment Purchase