December 3, 2014
Blackrock UK Property Fund, advised by ESH, has sold its London Road Retail Park in Hemel Hempstead to Knight Frank Investment Management for £15.2 million, reflecting a net initial yield of 5.61%.
The 36,263 sq ft retail park is let to Halfords, Staples, Pets At Home and McDonalds on leases expiring in 2022. The average rent is £25.75 per sq ft.
MacLaren & Partners advised Knight Frank Investors.