Lumina Real Estate Capital has bought Reading Link retail park in Reading, Berkshire, from PRUPIM for £13.2m.
The acquisition price reflects an 8.1% net initial yield.
The 68,500 sq ft property is let to Matalan, Home Bargains, Magnet and Harveys for an average unexpired term of just over 10 years.
Jonathan Perkins, director, out-of-town retail and leisure at Jones Lang LaSalle, said: “Retail parks have shown resilience over the economic downturn and during the continuing evolvement of the UK retail market. We anticipate that such assets, which are well located with secure income profiles and strong tenant mix, will continue to attract the interest of retailers and investors alike.”
Jones Lang LaSalle acted for Lumina Real Estate Capital; Cushman & Wakefield advised PRUPIM.
