F&C Property Asset Management has sold Linkway Retail Park in Cannock, Staffordshire for £21.6m.
The sale, to clients of Arlington Securities, reflects a net initial yield of 4.86% and an equivalent yield of around 5.6%.
The 96,000 sq ft bulky goods park, which produces an annual rent of 1.1m, accommodates DFS, Currys, Focus, Do It All, Klaussner and Halfords.
In addition, the park accommodates two stand-alone fast food restaurants, let to Pizza Hut and McDonalds, and 424 car parking spaces.
The retail units are let on leases expiring in 2013, 2014 and 2019.
F&C acted for Royal & SunAlliance Insurance. Strutt & Parker advised Arlington.
References: EGi News 04/10/05
