Property investment fund Cubemaker, has bought Mannings Heath retail park in Poole from the Church Commissioners for England for £9.1m.
The 72,000-sq ft park comprises four shops let to Homebase, Topps Tiles, Fabric Warehouse and Carpet Barn. The purchase reflects an 8% initial yield.
The latest acquisition brings Cubemaker’s spending to nearly £30m for the year to date, and it now has nearly £60m of assets under management.
Morgan Williams and Jones Lang LaSalle Corporate Finance advised Cubemaker; Griffiths Eccles acted for the Church Commissioners.
annabel.dixon@estatesgazette.com
