Standard Life Property Income buys Grand National Retail Park – Standard Life Investments Property Income Trust has completed the purchase of
the Grand National Retail Park in Aintree for a price of GBP6.125m, reflecting an initial yield of 6.85%.
The park is adjacent to the race course, and consists of 4 units let as a leisure park to Premier Inn, Pure Gym, Mitchells and Butler, and KFC. A further unit is sold off on a long lease to the Jockey Club. The investment benefits from strong trade associated with the race course and provides opportunity for asset management to extend leases from the current 8.1 years. The purchase was made from cash resources following the recent sale of Bathgate Retail Park.
SLI : Standard Life Property Income buys Grand National Retail Park