Wilkinson Williams

Press Release

Morley Fund Management acquire best bulky goods scheme park in Plymouth

Norwich Property Trust, managed by Morley Fund Management, have acquired Phase I of Marsh Mills Retail Park in Plymouth for a price of £56.6 million. The retail park is let to Homebase, Furniture Village, Carpetright, PC World and DFS on leases from 1999 with 2006 rent reviews currently outstanding. The scheme has a bulky goods planning consent and was sold by a joint venture between British Land and Tesco. The purchase price reflected an anticipated equivalent yield of 4.84% on the basis of the anticipated rent review settlements.

Wilkinson Williams and Cushman & Wakefield acted for the purchaser. For further information contact Miles Marten.

For further information please contact Miles Marten

m.marten@wilkinsonwilliams.co.uk