Warren retail park sold for £11.925m
Salmon Harvester Opportunity Fund has sold the freehold investment of Warren retail park, Ashford to clients of Knight Frank Investment Management for £11,925,000, reflecting a net initial yield of 6.1 per cent.
The 34,872-sq ft three-unit park is occupied by Home Bargains (12,680 sq ft), M&S Food Hall (10,268 sq ft) and Office Outlet (11,924 sq ft). The total annual rent is £799,206 pa.
Matthew Meaden, fund manager of Salmon Harvester Opportunity Fund, said: “During our ownership we have repositioned the park by introducing tenants such as M&S Food Hall, who were keen to take advantage of the excellent position close to Sainsburys and John Lewis.”
Warren retail park is located close to junction 9 of the M20 approximately 1 mile north of the town centre.
SHOF was represented by CWM Out of Town and the purchaser by Montagu Evans.