French investor Iroko Zen has bought St Stephen’s Place leisure park in Trowbridge, Wiltshire for £11.37m.
The sale was arranged by the park’s investment manager, Catella APAM, on behalf of Nexus Properties. The park was first marketed in May by Bruce Gillingham Pollard for £13.6m, then reflecting a net initial yield of 9.88%.
The site is anchored by a seven-screen Odeon cinema and an 80-bedroom Premier Inn hotel. Other tenants include Nando’s, Wagamama, Prezzo, El Guaca, Loungers and Frankie & Benny’s.
Max Bingham of Catella APAM said: “St Stephen’s Place has been a significant asset in our portfolio, and we are proud of the work we have done to maintain its status as a top leisure destination. We are confident that the new ownership will continue to build on this success.”
JLL acted for the vendor.
Photo from Catella APAM
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