Hermes Pension Fund has sold three retail parks to a joint venture company backed by Capital & Regional and Lanham for £21.9m.
The portfolio includes 22,760 sq m (245,000sq ft) of warehousing space and produces an income of £1.75m. The sale price reflects a yield of 7.9% yield.
Castle Retail Park in Nottingham totals 10,404 sq m (112,000 sq ft) in six units. Tenants include PC World, German food discounter Aldi and Texas Homecare.
Collingwood park at Fareham near Portsmouth consists of three stores occupied by Texas Homecare, Blockbuster Video and Tiles R Us. It also has a 6,967 sq m (75,000sq ft) bowling centre operated by Allied Leisure.
Channons Hill Retail Park, Bristol, covers 5,388 sq m (58,000 sq ft) in four units. Tenants include Great Mills, Curries and Linen World.
EGi News 09/12/96
