LaSalle Investment Management says it has exchanged on a new 10-year letting to Mothercare UK at Houndstone Retail Park in Yeovil, Somerset, on behalf of one of its pension fund clients.
It said the rent at the 10,210 sq ft site was £202,400 a year or 8% of turnover, whichever was highest.
LIM bought the property for the pension fund in February. It was previously let to Land of Leather.
LaSalle was advised by Wilkinson Williams and MacArthur Wilson.
The investment management firm also announced today it had bought a prime retail unit on Exeter High Street for £2.9m.
The 5,500 sq ft unit is set over four floors and is let to Paperchase Products until June 2017.
The purchase price reflects a net initial yield of 7.21%.
LaSalle was advised by Hartnell Taylor Cook.
