The Junction sells £60m Aylesbury park
Published: 16 April, 2010
The Junction, Capital & Regional's retail park fund, has continued its disposals programme with the sale of the 200,000-sq ft Cambridge Close Retail Park in Aylesbury.
The retail park has been sold to to Aviva Life & Pension UK, an existing investor in The Junction, for £60.4m, reflecting a net initial yield of 6.04 per cent.
The sale price compares to the park's valuation of £58.8m at 31 March 2010. The park provides 10 retail warehouse units with a bulky goods consent let to Comet, Argos, Homestore, Harveys, Allied Carpets, Sports World, Paul Simon, Dreams, Carpetright and Wickes.
In addition there is a terrace of smaller units on the Cambridge Road frontage lwith open A1 consent. The tenants are Franky & Benny's; Bathstore, Carphone Warehouse, Magnet, KFC and Subway.
Aviva is
