Wilkinson Williams

Press Release

Investment acquisition of Peel Centre Retail Park in Dumfries for £25 million by Morley Pooled Pensions Ltd

Morley Pooled Pensions have acquired the freehold investment in the Peel Centre Retail Park, Lockerbie Road, Dumfries for £25 million. This retail park, with an open non-food consent, comprises some 85,000 sq ft in 7 units with retailers including Matalan, TK Maxx, JJB Sports and Pets at Home. Passing rents range from between £10.50 up to £15.00 per sq ft, with first reviews due later this year and early next. There is also a site with an outstanding planning consent for a restaurant development. The purchase price reflected a net initial yield of just under 4%, with an anticipated equivalent of around 4.75%.

The purchasers were advised by Wilkinson Williams.

For further information please contact Mile Marten

m.marten@wilkinsonwilliams.co.uk