Lyons Farm Retail Park, Worthing

Acting on behalf of British Steel Pension Fund, Avison Young have sold the Lyons Farm Retail Park in Worthing to Columbia Threadneedle Investments for a price of £9 million.

The property extends to 31,914 sq ft and is occupied by Boots, The Gym and Wren Kitchens on the leases expiring between 2025 and 2033.  The rent is £805,500 per annum, equating to a rate of between £22.50 per sq ft and £26.75 per sq ft.  The purchase price reflects a net initial yield of 8.39%.