Wilkinson Williams acted on the sale of the St Nicholas Retail Park in King’s Lynn, acting on behalf of fund clients of Evolve Fund Services. The property was sold to Prestbury for a price of £8 million, reflecting a net initial yield of 7.84%.
The park extends to a total of 58,370 sq ft and includes a Wickes store of 28,630 sq ft, let at a rent of £11.25 per sq ft until September 2029. Other occupiers include Farmfoods, Lituanica, Norfolk Hospice, Sue Ryder and Domino’s Pizza. The scheme has a range of planning consents, which provide an open and restricted non food use.
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