The Junction Unit Trust has sold their remaining retail warehouse assets, via the Star Portfolio, to Hammerson Plc, for £254.5 million, reflecting a net initial yield of 7%.
The properties include Abbotsinch Retail Park, Paisley, Telford Forge Shopping Park, Imperial Retail Park, Bristol, Thurrock Shopping Park and a development site in Oldbury. All of the properties are situated in prime locations with good catchments, and are close to key conurbations and towns with good access to motorways and trunk roads.
The portfolio is let to a diversified blend of national and international tenants, representing 97% of the contracted income and benefits from a significant unexpired lease term of 11.8 years, with 89% of the leases having over 8 years left to run.
Wilkinson Williams, Cushman & Wakefield and Morgan Stanley advised The Junction and Hammerson Plc were represented by Drivers Jonas Deloitte and Savills.
For further information please contact: