Gallagher Retail Park, Longwell Green, BristolPosted on January 31, 2016
Clay Street closed their second acquisition on behalf of CCLA in January 2016.
The B&Q & Dixons in Longwell Green in Bristol provided CCLA with the opportunity to acquire a prime regional retail park asset.
The two purpose-built retail units comprise approximately 120,000 sqft of accommodation in a prominent position and serving the eastern side of Bristol.
Let to B&Q Plc and Dixons Stores Group for a weighted average unexpired term of 8 years at the time of purchase.
Whilst providing secure medium term income the asset also holds potential for proactive asset management opportunities during the hold.
CCLA acquired the investment for £32.325m, an income yield of close to 6%.