Dudley retail park changes hands
Published: 27 October, 2010
Oak Retail Park, Dudley, sold to First Property Group for £5.9m
AXA Real Estate Investment Managers, has sold its 35,913-sq ft Oak Retail Park at Brierley Hill in Dudley, West Midlands, to First Property Group for £5.9m. The deal represents a net initial yield of 7.37 per cent.
Tenants at the retail park include DIY retailer Wickes and brand bargains giant B&M, with leases expiring in 2019 and 2021 respectively. The total passing rent on the scheme, which has a bulky goods planning consent is £459,300 pa.
Edgerley Simpson Howe represented AXA Real Estate; AHBN represented First Property Group.
