On behalf of clients, Aviva Investors, Wilkinson Williams acted in the sale of their freehold interest in Harrogate Retail Park, Harrogate. The property was acquired in December 2017 by Aberdeen Standard Investments.
The property comprises a modern 3 unit retail park let to B&Q, Aldi and Pets at Home with a WAULT of circa 15 years (13.5 years including a tenant break). The Aldi benefits from 5 yearly RPI linked rent reviews to 1.0% and 3.0% per annum compounded.
The purchase price was £18.55 million, which reflects a net initial yield of 4.63%.