BGP acquired 2 retail warehouse parks in December 2020 for Brydell Partners for a combined price of £16,900,000.
St Peters, Burton on Trent – purchased for £5.50 million reflecting a net initial yield of 8.65%, let to Dunelm, Pets at Home and Halfords (WAULT 5 years);
Four Pools, Evesham – purchased for £11.40 million reflecting a net initial yield of 8.40%, let to The Range, Halfords, Pets at Home and Pure Gym. Also 2 lettings to complete to Subway and Greggs.
The acquisition reflects an increasingly active out of town market for smaller schemes (sub £15m), let to “COVID-successful” tenants, with strong occupier credit and relatively low/re-based rents.
For further information, please contact Andrew McGregor