Lady Bay Retail Park sold in £24m deal

The Property Income Trust for Charities (PITCH), managed by Mayfair Capital Investment Management, has bought the Lady Bay Retail Park in Nottingham in a deal worth £24.2m.

Lady Bay Retail Park is home to names such as The Range, Hobbycraft, B&M, Carphone Warehouse and Burger King and brings in a rental value of £1.61m a year.

Mayfair Capital fund manager Simon Martindale said: “Lady Bay Retail Park is recognised as the principal discount/value retail park in the city. It is this segment of the market that is attractive to consumers, particularly at a time when increased inflation is set to affect household spending.”

PITCH was advised by Strutt & Parker on the deal.