ERPUT Trustees Limited, c/o LaSalle Investment Management, sold Eastgate Retail Park in Bristol to Consolidated Property Group for £52.228 million, reflecting a net initial yield of 5.25%. The park was developed in 1987 and was later redeveloped in 2004 to provide 10 units arranged in 2 adjoining terraces adjacent to a Tesco foodstore and IKEA. Tenants include SCS, Boots, Halfords, Pets at Home, Next, Mamas & Papas and Burger King. The scheme has an average rental tone of £25.50 per sq ft.
Wilkinson Williams advised LaSalle Investment Management and Savills acted on behalf of Consolidated Property Group.