The Crown Estate has confirmed the sale of two assets from its regional retail portfolio for a total of £177m.
One asset, Bath Road Shopping Park in Slough, was sold to Royal London Asset Management for £93.65m. The sale represents an approximate 5.5% yield.
Tenants at the site include Next, Outfit, New Look, Furniture Village, Boots, Mothercare, Carpetright, Argos and McDonald’s.
A second retail park in Swansea was sold to Ashby Capital for £83.5m. The Morfa Shopping Park covers 256,000 sq ft on a site 1.5 miles from Swansea city centre and has tenants including Frankie & Benny’s, Harvester and Starbucks. The site will be asset managed by Quadrant Estates.
CWM represented Ashby Capital and Quadrant on Morfa with Wilkinson Williams represented the Crown Estate.
CWM acted for the Crown Estate on Bath Road with Wilkinson Williams representing Royal London.
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