Fosse Park goes to market at 5.3% yield

Fosse Park in Leicester is being brought to market for £360m – a 5.3% yield.

The 501,300 sq ft shopping park is being sold by a private Irish consortium. It is anchored by Marks & Spencer, Next, H&M and Bhs.

Fosse Park has topped Trevor Wood Associates’ Definitive Guide to Retail and Leisure Parks since 2003 for the top rent in the country.

The highest rented shop is £105 per sq ft. Average rents are £78 per sq ft for open A1 and £38 per sq ft for bulky goods.

Franc Warwick is advising the consortium.

See this Saturday’s Estates Gazette for more on this story.