International real estate investment manager DTZ Investors (DTZi) has acquired Kingsditch Retail Park in Cheltenham from M&G Real Estate for £42.4 mln, reflecting a net initial yield of 5.65%.
The investment comprises a multi-let out of town retail scheme and adjoining industrial estate. The property is situated on the A4019 (Tewkesbury Road) and houses retailers including, M&S simply food, Halfords, B&M and ScS. DTZi said that the asset afforded active asset management opportunities to add value.
The retail park was acquired on behalf of Strathclyde Pension Fund.
DTZ Investors were represented by Hampson Wall, and CWM acted on behalf of the vendor.
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10 November 2017
European Retail Investment Briefing
Savills, 33 Margaret Street, London, W1G 0JD, UK | 08:00 - 10:30
The European retail sector continues to attract significant investor interest across Europe. With economic growth creating higher levels of disposable household income in many countries across Europe the retail sector should see increased consumer activity - especially in Eastern Europe.
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