Lismore Real Estate Advisors have advised Epsicap REIM on the off-market acquisition of St Catherine’s Retail Park South, Perth.
The 56,705 sq ft retail park is fully let to a strong line-up of national occupiers comprising B&M Retail Ltd, Pets at Home Ltd and Wickes Building Supplies Ltd, generating a total annual net operating income of approximately £810,000. The asset benefits from FRI leases with no tenant break options and the ability to increase the WAULT over the coming years.
Acquired for £10.475 million, reflecting a net initial yield of 7.25%.