The Tritax Property Income Fund has exchanged contracts to purchase Pierpoint Retail Park in King’s Lynn from LondonMetric for £24 million, reflecting 5.77% NIY.
During 2016, the property was comprehensively refurbished and is now anchored by a Next lifestyle store, with other retailers including DFS, Tapi, B&M, Poundland and Greggs. The property benefits from an open A1 planning consent, a WAULT of 13.3 years and rents range between £17.00 and £23.00 per sq ft.
Wilkinson Williams acted on behalf of Tritax.
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