Edgerley Simpson Howe LLP

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Recent investment Transaction

Retail Park changes hands at Cribbs Causeway

9th September 2014

Clients of Aviva Investors have sold the Centaurus Retail Park at Cribbs Causeway, Bristol for £47.15 million, representing a net initial yield of 5.53%. ESH advised Aviva. The 81,751 sq ft retail park, which has been purchased by NFU Mutual Insurance Society generates an annual rental income in excess of £2.7 million. The retail park is fully let and occupiers include Carpetright, TK Maxx, Tesco Homeplus, Maplin, Hobbycraft and Dreams. Current rents range from £31.58 to £43.58 per sq ft. Located close to Junction 17 of the M5, the scheme is adjacent to the Mall at Cribbs Causeway regional shopping centre and includes a terrace of four retail warehouse units ranging from 5,194 sq ft – 30,886 sq ft and a further two units, totalling nearly 30,000 sq ft.