Two Midlands retail parks fetch £33m for DTZ Investors
DTZ Investors has disposed of two Midlands retail parks for £33m, to reinvest the capital into retail warehouse opportunities.
St John’s Retail Park in Wolverhampton was sold to Brookhouse Group for £16.5m. The 8-acre site is home to eight tenants including Next, Currys, Pets at Home and Wren Kitchens, alongside a ninth vacant Homebase store.
The fully let Linkway Retail Park in Cannock was acquired by a French SCPI for £16.45m. Tenants at the 8.5-acre site include B&M, Dunelm, Food Warehouse and Halfords.
HampsonWall acted for DTZ Investors, Sienna Investment Managers represented the French SCPI and Staunton Whiteman and CSP acted for Brookhouse Group.
Ben Haller, director at DTZ Investors: “These assets are no longer aligned to fund strategy with a decision to sell and reallocate the capital into higher quality retail warehouse opportunities. This ties to our recent purchase of Anchor Retail Park in Mile End for £37m and with continued appetite for further acquisitions”.
