CBRE Global Investors have sold the freehold interest in Trimdon Street Sunderland to Eskmuir Group for £8,400,000, reflecting a net initial yield of 7.5%.

The scheme comprises a single retail terrace of 3 units totalling 42,831 sq. ft. and 175 car parking spaces. The units are occupied by Halfords, Currys and PC World with a combined annual rent of £671,376 and an average rent of £15.68 per sq. ft. All leases expire simultaneously in March 2021, providing a WAULT of 5.75 years.

CBRE Global Investors were advised by ESH and Eskmuir Group were advised by MacLaren & Partners.

ESH, acting for AXA REIM, have secured a new letting to Pure Gym at Wrexham’s Central Retail Park.

The leading budget gym operator has taken a unit of approx. 9,000 sq. ft. on a new 15 year lease.

Pure Gym will open in June and join the established line-up, which includes Dunelm, Harveys and SCS.

B&M Retail Ltd have extended their unit at Weston Retail Park, Weston Super Mare by taking a new lease on the adjacent 10,000 sq ft Carpetright unit.

The new lease is co terminus with their existing and will pay a rent of £15.00 psf.

The Aberdeen Asset Management owned scheme is now fully let following the extensive refurbishment which took place in 2013.

Retailers on the scheme consist of The Range, Wickes, Dunelm, Bensons, Halfords, B&M, Somerset Beds and British Heart Foundation.

Rockspring purchases Euro Retail Park, Ipswich for £47,525,000, reflecting a 6.84% net initial yield.

The 210,534 sq ft scheme is located to the south east of the town centre opposite Futura Retail Park, a John Lewis and a Waitrose. Tenants on the scheme include B&Q, B&M, Sports Direct, Halfords, Dreams, Wren, SCS, Harveys, Carpetright, Pizza Hut and Burger King.

The total income produced is £3,438,895.80 reflecting a low average rent of £16.33 per sq ft. The park has a WAULT to expiry of 9.5 years and benefits from a wide-bulky planning consent.

ESH advised Rockspring on their purchase the freehold of Euro Retail Park Ipswich for £47,525,000, reflecting a 6.84% net initial yield.

Picton has acquired Gloucester Retail Park for £14.65m, reflecting a yield of 6.9%.

The retail park comprises four units totalling 112,000 sq ft and is leased to leading discount retailers B&M Bargains, Carpetright, The Range and AHF.

It produces an annual income of £1.067m with an average weighted lease length of 13.2 years at a low average rent of under £9.60/sq ft.

Michael Morris, chief executive, said: “We think this is an attractive entry point, recognising the income longevity and low overall rent, and believe there are a number of asset management opportunities which should enhance income and value during our ownership.”

ESH Advised Picton.

Unconditional sale of the site known as Crayford Island Retail Park to Aldi Stores Limited for £7.5m. Acting on behalf of the Administrators of Castlemore Securities Limited via their advisors Cordatus Real Estate Limited