Lothbury sells Linlithgow

Published:  01 June, 2017

Stockbridge retail park sells for £9.4m

Lothbury Investment Management, on behalf of Lothbury Property Trust, has sold the Stockbridge retail park in Linlithgow, West Lothian, to a UK-based private investor for £9.4m, reflecting a net initial yield of 6.05 per cent which will rise to 7.42 per cent on the expiry of rent free periods.

Stockbridge retail park is an open Class One retail park fronting the A803 Falkirk Road and was constructed in 2006. The 55,876-sq ft park has five units ranging from 5,008 to 25,000 sq ft. Current tenants are B & M Retail, Poundworld, Pets at Home, Argos and Peacocks Stores generating an income of £740,500 pa.

Mike Toft, senior fund manager and executive director of Lothbury Investment Management, said: “Stockbridge retail park has been part of the Lothbury portfolio for over ten years, since we purchased the park from the developers, and has guaranteed a strong income return for the fund. We are delighted to have completed the sale of this asset, ahead of valuation, following the conclusion of our asset management plan”.

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