Logistics entrepreneur Eddie Stobart’s company Stobart Group has exchanged contracts in its sale of an Eastbourne retail park to Clerical Medical Managed Funds for £25m.
The sale of the Admiral Retail Park represents a yield of 6.1% and a valuation gain of £2.1m since the company bought the property in 2012.
Tenants at the retail park include Argos, Pets at Home and Homebase.
The Stobart Group invests in real estate, multimodal logistics, warehousing, civil engineering, rail infrastructure and biomass fuel sector.
sophia.furber@estatesgazette.com
