DTZ Investment Management has purchased St James retail park in Northampton for £53.3m – a 6.1% yield.
The 164,200 sq ft retail park, which was sold by British Land, is close to Northampton’s city centre and comprises 11 shops. Tenants include Next, Laura Ashley, Toys R Us, DFS, Brantano, DW Sports, Mothercare, BHS, Homesense, Boots and Starbucks.
DTZ IM retail fund manager David Hyland: “St James retail park has a strong tenant mix in a very good location. There are a number of asset management initiatives that we hope to implement in order to drive the asset’s performance.”
Cortex Partners advised DTZ IM; Morgan Williams acted for British Land.
annabel.dixon@estatesgazette.com
