Croydon - IM Properties have bought Purley Way Retail Park in Croydon for £22.15 million from Aviva Investors. The scheme is divided into 4 units occupied by Carpetright, Easy Living, Paul Simon and Harveys, and extends to a total of 42,123 sq ft. The property is fully let, with leases expiring in 2019 and 2021, and with rents of between £30.00 and £40.00 per sq ft.
Worthing - Aviva Investors have sold Pages Corner Retail Park in Worthing to Threadneedle for a price of £7.5 million, equating to a 6.11% NIY. The property has an open A1 non food consent and is let to The Range and Carpetright, with leases expiring in 2020 and 2025, at rents between £11.10 and £18.16 per sq ft. Both leases provide for fixed rental increases throughout the term of the leases.
Orpington - Aviva Investors have sold Orpington Retail Park to Aviva’s new Recovery Fund. The property was sold for £11.625 million, which equates to a 6.08% NIY. The property is a prime 2 unit scheme in a strong trading position in Orpington, extending to 20,463 sq ft, let to Sports Direct and Dreams at a rent of £37.00 per sq ft, with leases expiring in 2020 and 2022.
Wilkinson Williams acted for Aviva Investors on all 3 transactions.
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