Knight Frank Investors Buys Retail Park In Bury St Edmunds From Standard Life Investments

August 27, 2012

Lancashire County Council Pension Fund, managed by Knight Frank Investors has bought the freehold interest in the St Edmundsbury Retail Park in Bury St Edmunds from Standard Life Investments. The purchase price of £18,665,000 reflects a net initial yield of 6.89%.

The scheme is the dominant retail park in Bury St Edmunds, located adjacent to Sainsbury’s, and comprises approximately 97,600 sq ft let to Homebase, Dunelm, Pets at Home, Carpetright and Dreams. Lease expiries range from 2014 to 2026 and rental levels are between £10 – £20 per sq ft.

The investment is one of the few traded in recent times that generated competitive bidding from the main institutional market.

Knight Frank Investors were advised by Montagu Evans.

Standard Life Investments were advised by Edgerley Simpson Howe LLP.

 – ends –

Latest News

ORFORD HOUSE, NORWICH COMES TO THE MARKET

March 2, 2021 - 12:32

GCW, on behalf of a private landlord, has launched a prime flagship building in Norwich to the market. The former Debenhams store, named Orford House, is available for sale or lease and is offered as [...]

+ Read More

H&M COMMITS TO LONG TERM FUTURE AT SOVEREIGN CENTROS’ ST. ENOCH CENTRE

March 2, 2021 - 10:58

Sovereign Centros has signed a new 10-year deal with leading fashion retailer H&M, for its 32,000 sq ft store at the St. Enoch Centre in Glasgow. H&M is the latest in a long line of tenants to[...]

+ Read More

IV REAL ESTATE TRANSFORMS TWO BRISTOL OFFICE BUILDINGS

March 1, 2021 - 10:01

IV Real Estate has completed the refurbishment of two prime office buildings in Bristol city centre. Practical completion of 41 Corn Street and the adjoining Gilbert House has now been reached followi[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR