A client of Aberdeen Asset Management has acquired Chippenham Retail Park, Chippenham, Wiltshire from private development company Foinavon for £11.234 million.

The 43,315 sq ft scheme comprises three retail warehouse units let to Wickes, Pets At Home and B&M Bargains with an average weighted unexpired lease term of 8.5 years. The current rent roll is £691,463 a year and the purchase reflects a net initial yield of 5.82%.

Matthew Cunliffe of Aberdeen Asset Management says: “Chippenham Retail Park offers superb rental and capital growth potential and is located prominently in an area earmarked for future housing development.”

ESH advised Foinavon.

The 220,000 sq ft Cambridge Retail Park has been bought from German investor Deka Immobilien for £109m.

Built in three phases between 2000 and 2007, the retail park currently has a roster of leading retailers such as Argos, Harveys, Boots, Currys and PC World, Burton, Dorothy Perkins, Evans, Furniture Village, Halfords, Homebase and Sports Direct. Standard Life Investments was advised by Edgerley Simpson Howe

Threadneedle have purchased North Norfolk Retail Park in Cromer for £4,620,000, reflecting a 7.15% net initial yield.

The scheme comprises of 25,050 sq ft occupied by Argos, Halfords, Bennetts and Carpetright and rents are between £11.27 and £16.32 per sq ft. Planning consent consists of mainly bulky goods with some exceptions. ESH acted for the purchaser.

Foinavon have sold Chippenham retail park for £11,234,000, which reflects a net initial yield of 5.82%.

The park is home to Wickes, Pets at Home and B&M and has a bulky goods consent with unit 3 benefitting from an additional food area. Rents vary between £14.00 and £19.72 per sq ft and the AWULT is 8.5 years. ESH acted for the vendor.

A LondonMetric Property and Universities Superannuation Scheme joint venture has exchanged contracts to buy Trostre South Retail Park in Llanelli.

The Metric Income Plus Partnership will pay charity Benesco £12.8m, reflecting a net initial yield of 6.8%.

The 75,400 sq ft retail park is let to B&Q, Pets at Home and KFC. It has a vacant unit of 10,000 sq ft, formerly let to Dreams, which is subject to a two-year rental guarantee.

The average rent is £12.10 per sq ft and the unexpired lease term is 14.7 years.

The park is adjacent to the 450,000 sq ft Trostre Shopping Park anchored by Tesco, M&S, Next, Debenhams and BHS.

Edgerley Simpson Howe advised MIPP. Harvey Spack Field/Metrus advised Benesco.

TK Maxx is to open at Hollywood Retail and Leisure Park, Barrow-in-Furness.

Standard Life Investments UK Property Fund has secured leading clothing and home goods brand TK Maxx as its latest tenant at Hollywood retail and Leisure Park in Barrow-in-Furness.

The retailer has signed a ten-year lease for a new 17,000-sq ft store, in the unit previously occupied by Comet. TK Maxx plans to open its doors later this year, following a full refurbishment of the unit.

Nigel Chapman, fund Manager of Standard Life Investments UK Property Fund said, “It’s testament to the quality of Hollywood retail and leisure park and the strength of the local market that a major international brand such as TK Maxx has chosen its first store in the town to be located at the retail park. This letting to TK Maxx complements the existing retail and leisure mix at the retail park and will be a big draw for the local community.”

Edgerley Simpson Howe and JLL were letting agents and Morgan Williams advised the tenant.