SCHRODERS AND SCOTTISH WIDOWS INVESTMENT PARTNERSHIP INTERCHANGE IN IPSWICH

February 8, 2010

The Schroder Exempt Property Unit Trust (SEPUT) has continued its buying strategy by acquiring Interchange Retail Park, Ipswich from Scottish Widows Investment Partnership (SWIP) on behalf of one of its clients.  Advised by Montagu Evans and Edgerley Simpson Howe (ESH) respectively, the freehold was acquired for £13,230,000 reflecting a net initial yield of 6.75%.

Interchange comprises approximately 60,680 sq ft (5,640 sq m), let to PC World, Curry’s, Multiyork and Pizza Hut for a further 12 years. Current rent roll is £944,150 per annum.  Its immediate neighbour is a large format Tesco.

Ian Mason, SEPUT`s Fund Manager, commented that `this is a well located property with both good quality longer term income and deliverable asset management opportunities offering growth.  SEPUT is carefully expanding its exposure to the retail sector and this asset fits our investment model perfectly.

Jo Duffield at ESH said “SWIP is delighted to have achieved a swift and timely sale of this asset at a price reflecting the competition for this type of stock within the market place in accordance with the Fund’s strategic investment criteria.”

Latest News

Redevco strengthens Real Estate Debt platform with Emma Huepfl as a Senior Advisor and Rosalind Walker as Senior Associate

April 14, 2025 - 08:57

Redevco, one of Europe’s largest privately-owned real estate management firms, strengthens its recently established Real Estate Debt platform with the strategic appointments of Emma Huepfl as a Seni[...]

+ Read More

Redevco secures London flagship for PUMA

April 8, 2025 - 13:18

Global sportswear brand commits to Redevco’s Oxford Street refurb Building users benefit from sustainability-led new workspace Redevco, one of Europe’s largest privately-owned real estate managers[...]

+ Read More

Redevco signs Charlotte Tilbury and Isle of Avalon at Hanningtons, Brighton

April 8, 2025 - 13:14

Retail element of the 150,000 sq ft scheme now fully let Redevco, one of Europe’s largest privately-owned real estate managers, has secured lettings to leading luxury beauty brand Charlotte Tilbury [...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR