Wilkinson Williams

Press Release

The Junction sells in Slough and Aberdeen

The Junction Limited Partnership sold the Slough Retail Park in Slough and the Kittybrewster Retail Park in Aberdeen to clients of Threadneedle Property Investments Limited. Kittybrewster Retail Park in Aberdeen extends to approximately 141,500 sq ft and is let to DFS, Sports Direct, Harveys, Comet, TK Maxx, DSG, Staples, Halfords and Carpetright, with one vacant unit. The park has an open planning consent, an unexpired lease term of approximately 10.7 years and with average rents of circa £22.00 per sq ft. This was sold at a price of £31.24 million, reflecting a net initial yield of 8.75%.

Slough Retail Park, Slough extends to approximately 153,000 sq ft and is occupied by Homebase, Easy Living, Harveys, Wickes, DFS and Carpetright, with a unit of circa 22,700 sq ft currently being vacant. The scheme is let off an average rent of £29.47 per sq ft, with an average unexpired lease term of approximately 10.4 years. The purchaser paid a price of £50.5 million, reflecting a net initial yield of 8.43%. Wilkinson Williams acted for The Junction.

For further information please contact Miles Marten

m.marten@wilkinsonwilliams.co.uk