Royal London acquires pre-let Plymouth Gateway Retail Park for £23m

Plymouth Gateway Retail Park

Joint venture partners Europa Capital and Ediston Real Estate have forward sold Plymouth Gateway Retail Park to Royal London Mutual Insurance Society for £22.7m, reflecting an initial yield of 5.9%.

The 55,000 sq ft retail warehouse park, which is currently under construction, is fully pre-let to Wren Kitchens, Tapi Carpets, Sofology, Mothercare, KFC and Costa, and is due to be completed later this month. Rents range between £22/sq ft and £25/sq ft pa for the terraced units.

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