Retail park sold for £6.6m

A RETAIL park in Warrington has been sold for £6.6m.

Fordton retail park, comprising 20,200sq ft has been offloaded by LondonMetric Property which has also acquired an 89,000sq ft property in Hemel Hempstead for £8.3m.

Fordton is let to Aldi, Greggs, Betfred, Barnardo’s and Costa.

There is an adjoining pub which has recently been developed and sold off on a long leasehold. The weighted unexpired lease term is 14.8 years. The sale is marginally ahead of March 2016 book value.

Andrew Jones, chief cxecutive of LondonMetric, said “We continue to recycle equity from our mature retail parks into well located logistics assets, which we are confident will benefit from the ongoing structural changes impacting occupiers and deliver superior rental growth.”