CBRE Global Investors, on behalf of a separate account client, has acquired Mountbatten Retail Park, Southampton for €23 mln (£16.2 mln), reflecting a net initial yield of 5.75%. The vendor was LondonMetric Property Plc.
The 4,990 m² (53,719 ft²) retail park has five units and occupies a prominent position opposite Southampton Central railway station. It is let to Dunelm, Majestic Wine, Wren Living, Pure Gym and Dreams with an unexpired lease term of 11.7 years. The property benefits from Open A1 (including food) planning consent and a car parking provision of 1:25 m².
Source: CBRE Global Investors
