UKCPT acquires The Rotunda leisure scheme
Published: 26 May, 2011
UK Commercial Property Trust managed by Ignis, has bought the Rotunda leisure scheme in Kingston upon Thames from Curo Property Funds for £50.7m, reflecting an initial yield of 6.47 per cent.
The prime 170,000-sq ft,leisure scheme is fully let to 11 tenants generating an annual rent roll of £3.3m. Occupiers include a 14-screen Odeon cinema, Tenpin Bowling, David Lloyd Fitness, Pizza Express and Prezzo. Unexpired lease terms average 16 years.
Located in the heart of Kingston upon Thames, which is one of the top three retail destinations in Greater London, The Rotunda is strategically located directly opposite Kingston train station and next to the town`s main bus interchange, which generates footfall in excess of 2.5 million visitors per annum.
