Picton Property is paying £14.65m for a retail park in Gloucester. Gloucester Retail Park, on Eastern Avenue, has four units totalling 112,000 sq ft of space let to B&M Bargains, Carpetright, The
Range and AHF with a weighted average lease life of 13.2 years. It generates rents of £1.067m, equivalent to a rent per sq ft of £9.60 and an initial yield of 6.9%.
Picton is deploying the proceeds of its latest fund raising and, with this deal, has spent close to £20m so far this year.
PCTN : Picton snaps up Gloucester Retail Park