Edgerley Simpson Howe LLP

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Recent investment Transaction

Co-Op Buys Waterside Retail Park, Ashbourne for £9.73Million

14th June 2010

The Co-Operative Group, advised by Edgerley Simpson Howe, has purchased the freehold interest in the Waterside Retail Park, Ashbourne, Derbyshire for £9.73 million which represents a net initial yield of 6.71%. The Park has recently been developed by Cedar House (Ashbourne) Ltd and comprises two terraces of modern retail warehousing totalling 4,871 sq m (52,438 sq ft) in 6 units.

Tenants at the park include Homebase, Halfords and Marks & Spencer Simply Food and Majestic Wine with leases expiring between 2023 and 2033. The total passing rent on the scheme, which has a bulky goods planning consent with exceptions for units B2 & B£ which have unrestricted open consent, is £690,1880 pa including rental guarantees.

Edgerley Simpson Howe represented The Co-Operative Group.