Wilkinson Williams has acted in the sale of the Belgrave Retail Park in Wisbech to Highcroft Investments. The sale was undertaken by way of a sale of the SPV owning the property, with both parties benefiting from the advantages of selling to a company with REIT status, such as Highcroft. The sale price for the company was £8.5 million.
The property benefits from an open A1 consent and extends to 55,500 sq ft and is let to Dunelm, Currys, Carpetright, Halfords and Pets at Home at rents between £9.25 per sq ft and £15.00 per sq ft. Leases expire between 2023 and 2028.
Following the sale of Pasteur Road Retail Park and the acquisition of the Matalan, both in Great Yarmouth, this is the third investment transaction Wilkinson Williams has undertaken in East Anglia in 2014. Hopefully with another to occur soon.
Wilkinson Williams acted for the vendor.
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