Cookie Error:

Cookies deactivated. To use all functions on this portal, for example the login, Cookies must be activated. Please activate Cookies in your browser settings.

News » UK
    Print Print 

Metric Property Investments acquires Havens Head Retail Park for £14.4 Million

Metric Property Investments plc announces that it has completed the acquisition of Havens Head Retail Park, Milford Haven from Land Securities PLC for £14.4 million, reflecting net initial yield of 6.8%. Metric will use its existing cash resources to finance the purchase.The park comprises 85,700 sq ft of Open A1 space and is anchored by a 38,000 sq ft Tesco with an unexpired lease term of 17 years. The scheme has eight units, and tenants include Boots, Peacocks, and Littlewoods with an average passing rent of £12.10 psf and an unexpired lease term of 13.8 years.

Following this transaction, Metric has an investment portfolio of £143 million across nine retail schemes, with rents averaging £13.25 psf and an unexpired lease term of 1...[…]