UK-based logistics property player Segro said on Thursday it had completed the sale of the Bath Road Retail Park in the town of Slough to The Crown Estate for £92 mln (EUR 116 mln). The deal covers 18,068 m[sup]2[/sup] of A1 retail space and 626 parking spaces and reflects an initial yield of 5.5%, Segro said.
UK-based logistics property player Segro said on Thursday it had completed the sale of the Bath Road Retail Park in the town of Slough to The Crown Estate for £92 mln (EUR 116 mln). The deal covers 18,068 m2 of A1 retail space and 626 parking spaces and reflects an initial yield of 5.5%, Segro said.
Located within the southwest corner of Segro's Slough Trading Estate, the retail park is currently occupied by 10 national retail chains, including Next, JJB Sports, Mothercare, Argos and B&Q Warehouse. In total, the asset provided an income of £5.3mln, based on current rental levels that range from £21.25 to £37.50 per sq ft.
Commenting on the deal, Kevin O'Connor, director of Slough Trading Estate, said:'This is a good move for us and following the December 2007 sale of the Slough Heat and Power plant, our operations on the Slough Trading Estate have become significantly more focused - this is important as we look towards the longer term development of the Slough Trading Estate.'
