Acquisition of Whitwick Retail Park in Coalville, UK for £9.9 million

October 2nd, 2018

Paul McDowell Ltd are pleased to announce the purchase of Whitwick Retail Park in Coalville for Corum Asset Management for £9.9 million, reflecting a net initial yield of 6.9%. The Vendor was New River REIT Plc.

The conveniently located retail park was sold following the completion of NewRiver’s comprehensive programme of active asset management initiatives. These initiatives included agreeing a new 15-year lease with B&M, upsizing Peacocks into a 10,000 sq ft unit, introducing Pets at Home and Sports Direct into a unit formerly occupied by Littlewoods and upgrading the facades across the Park.

Whitwick Retail Park is adjacent to a 77,700 sq ft high performing Morrisons food store and spans 55,300 sq ft with 697 parking bays and a strong retailer line-up including B&M, Poundstretcher, Peacocks, Sports Direct and Pets at Home.

Corum Asset Management were represented jointly by Paul McDowell Ltd and Egan PAM.

Philippe Cervesi, Head of Investment, Corum Asset Management, stated that: “We are happy increasing our exposure to the UK market with our third acquisition this year. The Corum XL fund is growing steadily and we intend adding to these investments in 2018 and the coming years”.

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