Land Securities has said it has exchanged contracts for the sale of the freehold interest in Racecourse retail park Aintree, Liverpool to London & Stamford Retail for £61 mln (EUR 71.6 mln).
Land Securities has said it has exchanged contracts for the sale of the freehold interest in Racecourse retail park Aintree, Liverpool to London & Stamford Retail for £61 mln (EUR 71.6 mln).
The transaction volume reflects a yield of 8.5% yield.
The property comprises a goods retail park totalling 27,000 m2. Land Securities said it had recently enhanced the park by obtaining open A1 planning consents for an extra 5,600 m2 to bring in Marks & Spencer, Next and Boots. The property provides a current rental income of approximately £5.4 mln (EUR 6.3 mln) per annum.
Cushman & Wakefield acted for Land Securities and Savills represented London & Stamford Retail.
