Edgerley Simpson Howe LLP

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Recent investment Transaction

Altum Capital acquire Hough Retail Park - April '16

1st April 2016

ESH advised Altum Capital on their acquisition of the Hough Retail Park located on the A34 Litchfield Road, Stafford. The scheme totals 101,975 sq ft of broadly bulky good retail space and has since benefitted from a number of further planning relaxations. The retail park is occupied by B&Q, Home Bargains, Bensons, Maplin, SCS and Argos and provides a long AWULT of over 10 years to expiry and 9.5 years to breaks. The asset provides a total annual rent of £1,520,905 reflecting an average rent per sq ft of less than £15.00. Altum Capital purchased the freehold of the property for £21,050,000 reflecting a net initial yield of 6.77%.