BP Investment Management, represented by Edgerley Simpson Howe & Partners, has purchased the Taunton Retail Park from Aviva. The sale of £17.77m represents an initial yield of 9%.

Current tenants at the 87,800 sq ft park are paying rents of £17 – £20 per sq ft and include; Homebase, Curry’s, PC World, Staples, Comet and Pizza Hut.

Taunton Retail Park forms a part of the main out of town retail offering in Taunton and is located next to Sainsbury’s food store, close to junction 25 on the M5.

Tony Rogers from Edgerley Simpson Howe comments: “The retail park is of great regional significance and trades very well off low rents. BP was quick to identify the potential and moved rapidly to secure the property in competitive circumstances.”

Aviva was represented by Montagu Evans.

Harveys did their corporate restructuring last year and their existing unit at Winterhill was too big for them so they did a deal for the vacant former Paul Simon across the road (part of the same scheme) adjoining Dunelm.  They took a new 10 year lease with TBO at yr 5 and the unit extends to 6,781 sq ft.

At the same time, AHF agreed to take the existing Harveys extending to 13,500 sq ft on a new 10 year lease with TBO at yr 5.  It will be traded as a Fabb unit and there has already been some press on this deal (attached).  Probably best to just say that both of these are 10 yr leases and not mention the breaks.

Tim has the AHF completed?  Just conscious we’ve billed Bensons but not AHF.  I think it’s OK to go on the website if they’ve already put out press on it?