Aviva, advised by ESH, have purchased the Matalan and Aldi retail warehouses on Kingston Road, New Malden from a private vendor for £14,250,000 / 5.16% net initial yield.

The scheme comprises 37,534 sq ft and is let with an AWULT of 9.24 years at rents of £22.48 psf and £18.97 psf. The Aldi rent is subject to five yearly upward only rent reviews to RPI with a collar and cap at 1% pa and 2.5% pa respectively.
Both units benefit from an unrestricted open A1 planning consent that allows the sale of food.
Savills advised the vendors

Aberdeen Asset Management, on behalf of its clients, has purchased a DFS retail warehouse unit in Enfield from LondonMetric for £24.48m at a yield of 6.73%.

The freehold property, which is situated on the A10 (Great Cambridge Road), consists of a retail warehouse unit of 23,165 sq ft, a distribution unit of 9,279 sq ft and 81 car-parking spaces and is let on one occupational lease until 23 March 2030. Aberdeen Asset Management owns the two retail warehouse units adjoining the asset, which have recently been refurbished and let to Sofaworks and Furniture Village. Aberdeen was advised by ESH on both the lettings of the existing holding and the purchase of the DFS freehold.

London Metric, advised by ESH, sold their freehold interest in Westcroft Retail Park, Milton Keynes for £27.2million.

The park comprises of 75,620 sq ft of open A1 retail space in a single terrace and is situated immediately adjacent to Westcroft District Centre, which includes a 95,000 sq ft Morrisons. The retail park is occupied by Aldi, Boots, Jollyes, Poundstretcher, Poundland, B&M, McDonalds, Pizza Hut and KFC with rents ranging between £20 per sq ft and £28 per sq ft. The scheme offers a WAULT of almost 9 years

BMO Real Estate Partners, with occupational advice from ESH, have completed the purchase of the 560,000 sq. ft. Parkgate Shopping Park in South Yorkshire from British Land.

The scheme is the fourth largest shopping park in the UK with over 40 retailers and restaurants and is shortly to welcome the opening of one of the largest out of town H&M stores in Britain.  ESH have been retained by the landlord on future lettings and asset management

Standard Life, advised by ESH, have secured B&M for a relocation to a larger store and regeared Currys to enable them to open a new 3-in-1 format store, incorporating their Carphone Warehouse and PC World fascias.

B&M have relocated into the 25,556 sq. ft. former PC World unit at a market rent and on a new 10 year lease.  Currys have also committed to the scheme for another 10 years.  The former B&M unit of 10,000 sq. ft. is now under offer to a national retailer

Standard Life, advised by ESH, have disposed of the freehold interest in Stoneferry Retail Park, Hull for £2,160,000 million reflecting a net initial yield of 10% to AEW.

The park, comprising 17,655 sq ft, is let to DSG Retail, Bensons Beds and Burger King with lease expires in 2019 on the retail units and 2029 on the Burger King. DSG Retail have sublet their unit to Wren Kitchens.

The total current rent is £228,591 per annum, equating to £11.01 and £10.80 psf on the retail, and £24.59 psf on the Burger King.

The park benefits from a ‘wide’ bulky goods and A3 planning consent.

AEW were advised by Fawley Watson Booth