Invista - Ashby de la Zouch, Nottingham Road Retail Park, Ashby de la Zouch, Leicestershire

Date: 24 Sep 2010

Invista has purchased the Nottingham Road Retail Park, Ashby de la Zouch, Leicestershire for £8,260,000, with a yield of 6.25%.

Invista Real Estate Investment Management has purchased the freehold interest in the Nottingham Road Retail Park, Ashby de la Zouch, Leicestershire from developers Morbaine Ltd. The purchase price was £8,260,000, which represented a net initial yield of 6.25%.

The property comprises two new retail warehouse units totalling approximately 33,920 sq ft, together with an external forecourt area providing car parking, an external sales area and loading bay access. The property is fully let to Wickes Building Supplies Ltd and Pets at Home Ltd for a further average weighted unexpired term of 18.4 years. The property provides a current rental income of £545,980 per annum and the Wickes lease has guaranteed RPI uplifts.

The property was secured following considerable interest and a competitive bidding scenario. Interest was generated as a result of the quality of the buildings and the secure income, with guaranteed uplifts.

Invista Real Estate Investment Management was represented by Hartnell Taylor Cook LLP.

Morbaine Ltd was represented by BNP Paribas Real Estate.

Nottingham Road Retail Park, Ashby de la Zouch, Leicestershire

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