Investments / Westmount Real Estate & Credit Suisse buy Stour Retail Park, Canterbury
Credit Suisse and Westmount Real Estate have bought the freehold interest in Stour Retail Park, Canterbury for £23.8 million from M&G Real Estate reflecting a net initial yield of 5.5%.
The property is a modern purpose-built retail park of some 84,631 sq ft, it has an Open A1 (non food) planning consent and is let to TK Maxx, Sports Direct, Home Bargains, Iceland, Matalan and McDonalds. The passing rent of £1,385,583 reflects a relatively low rent of £16.95 psf.
Price: £23.8 million
Type: Investment Purchase