January 30, 2014
The Salmon Harvester Opportunity Fund has acquired Warren Retail Park in Ashford for £8.25 million, representing a yield of 7.2%.
The 34,867 sq ft scheme is located on Simone Weil Avenue, adjacent to the M20 and includes three retail warehouse units let to Staples, Dreams and Family Bargains.The rent roll is approx. £625,000 pa.
The Salmon Harvester Opportunity Fund, a joint venture between NFU Mutual and Salmon Harvester Properties, acquired the retail scheme from the Brookhouse Group.
Located less than a mile from Ashford town centre, Warren Retail Park is next to a recently expanded 150,000 sq ft Sainsbury’s superstore and close to the a recently opened John Lewis at Home store .
Matthew Meaden, Fund Manager at the Salmon Harvester Opportunity Fund comments: “The area surrounding this park has been transformed by the expansion of the Sainsbury’s Supermarket and the opening of the John Lewis at home store. We believe this will dramatically increase the number of visitors to this location and have a very positive impact on the park.”
Hoddell Stotesbury Morgan advised Salmon Harvester on the purchase. The Brookhouse Group was represented by CWM.
The Opportunity Fund was established to fill the gap between the prime, standing investments that NFU Mutual buys on its own account, and the higher risk development projects of Salmon Harvester, which is itself a joint venture with Salmon Developments.
To date it has purchased assets across all sectors and across the country in Kingston-upon-Thames, Oxford, Birmingham, Deeside, Reading, Droitwich and Worcester.