Avison Young are delighted to announced they have concluded the sale of The Leggar Retail Park in Bridgwater on behalf of the owners , clients of LaSalle investment Management, to Sedgemoor District Council.
The property comprises a recently developed convenience led retail park let to Home Bargains, Food Warehouse and Farmfoods, together with the freehold interest in an adjoining Lidl foodstore, which is sold on a long lease. The property extends to a total of 43,258 sq ft and is producing a current rent of £585,468 per annum (£13.53 per sq ft) with a WAULT of 11.6 years.
The purchaser paid a price of £7.275 million, which reflects a net initial yield of 7.45%.
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