Haslemere has exchanged contracts to sell Phase II of the Clifton Moor Retail Park in York to Railway Pension Nominees for £36.5m.
The deal represents an initial yield of 5.18%.
The 170,000 sq ft (15,793 sq m) retail park comprises a single terrace of 12 shops. Tenants include Matalan, Harveys, Carpetright and Dunelm.
Rental income for the estate totals around £2m pa, and the most recent rental evidence was set at £17 per sq ft (£183 per sq m).
Haslemere portfolio director Richard Debney said: “The disposal of this asset is a significant step towards completing the sale programme outlined earlier this year.
“We continue to look for new investment opportunities, potential development projects and other new business.”
Dalgleish acted for Haslemere and Jones Lang LaSalle acted for Railway Pension Nominees.
Earlier this year, Haslemere was acquired by an Israeli/US consortium led by Brack Real Estate Capital.
EGi News 19/11/02
