Acting for Wesleyan Assurance Society, Avison Young Retail have acquired White Way Retail Park in Biggleswade from Aberdeen Standard Investments for £4.6 million, reflecting a net initial yield of 7.70%.
The 18,264 sq ft scheme is let to Pets at Home, Halfords and Bensons for Beds producing a current rental income of £377,676 per annum. The park was constructed in 2015, sits adjacent to the A1 Retail Park, has a WAULT of circa 6.7 years and benefits from an open A1 (non-food) planning consent.
The park was first marketed in June 2019 for £5.445 million, reflecting a net initial yield of 6.50%.
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