Lismore Real Estate Advisors has advised a US-based investor on the purchase of Beach Boulevard Retail Park in Aberdeen.
The dominant retail park is anchored by a 85,179 sqft Asda Supermarket and comprises a variety of other strong brand names such as Aldi, Iceland, Home Bargains, Dunelm, Costa and Pets at Home. 53% of the total rent is grocery led.
The park benefits from an attractive WAULT of 10.75 years and a rental tone ranging from £13.00 sqft to £18.50 sqft.
It was purchased for a price in the region of £60 million which reflected a net initial yield of approximately 6.25%.