Apsley Mill Retail Park sold for £37 million

The Crown Estate has sold the freehold interest in the Apsley Mill Retail Park in Hemel Hempstead for a price of £37 million to Royal London.

The park extends to approximately 97,000 sq ft and is let to Homebase, Wren Kitchens, Carpetright, Argos and Currys at rents between £19.75 and £25.20 per sq ft. The weighted average unexpired lease term was 8.8 years and the scheme benefits from a restricted planning consent. The purchase price reflected a net initial yield of 5.35%.

Wilkinson Williams acted for The Crown Estate.