Strutt & Parker’s Out of Town Retail Investment Team has had a flurry of successes in the out of town market with the sales and acquisitions of some prime retail accommodation totalling a transaction value of £71.235 million.

Details of the deals are as follows:

• Strutt & Parker advised Threadneedle in the purchase of Centrum Retail Park, Cheltenham, for £26.70 million, reflecting a net initial yield of 7.90%. The park was purchased from Invista REIM and consists of 140,000 sq ft of newly developed retail space let to tenants including Homebase, Dunelm, Safestore and KFC. Sep 2009

• Strutt & Parker advised Aviva Investors in the sale of Castlefields Retail Park, Wellingborough, for £15.65 million, reflecting a net initial yield of 9.05%. The park was sold to Threadneedle and consists of a B&Q Mini Warehouse, Dunelm, Pets at Home, Dreams, Carpets 4 Less and a Pizza Hut. Aug 2009

• Strutt & Parker advised Threadneedle in the purchase of a B&Q Warehouse on Stairfoot Road, Barnsley, for £11.86 million, reflecting a net initial yield of 8.25%. The warehouse was purchase from Standard Life and totals 104,400 sq ft. Jul 09

• Strutt & Parker advised CCLA in the disposal of Thomsen Retail Park, Sunderland, for £4.125 million, reflecting a net initial yield of 9.50%. The park was sold to The Warden and Fellows of Nuffield College, University of Oxford and totals 35,720 sq ft of accommodation, comprising of two retail warehouse units currently let to Wickes, Carpet Barn and a McDonalds Drive-Thru. Jul 09

• Strutt & Parker advised RLAM on the funding of the Waitrose, Raynes Park, for £9.00 million, reflecting a net initial yield of 6.00%. The property is currently under construction and is due to complete in December 2010. The vendors were Berkeley Homes. Aug 2009

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