Clients of La Salle Investment management have sold the long-leasehold interest in Exe Bridge Retail Park in Exeter, Devon, for £31m – a 6.19% yield.
The property was sold to clients of Legal & General.
The scheme is occupied by Boots, Next TK Maxx, Marks & Spencer Food Hall and Pizza Hut. It also has A1 non-food planning consent for an additional 67,810 sq ft of F&B space.
Rents are between £29.50 per sq ft and £31 per sq ft and it has a weighted average unexpired lease term of approximately 7.5 years.
Wilkinson Williams acted for LaSalle Investment Management.
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