Aviva Investors, represented by Wilkinson Williams has sold the freehold interest in the Gateway Retail Park, Beckton to Standard Life Investments for a price of £47.75 million.
The scheme extends to approximately 150,000 sq ft and comprises a large format B&Q store, with other occupiers being Pets At Home, Halfords, Wren Kitchens, Staples, McDonald’s and KFC. Rents range from £17.50 per sq ft to £27.00 per sq ft on the retail accommodation, with a WAULT of circa 6.8 years. B&Q and Staples have break clauses in 2022 and 2015 respectively and B&Q benefits from RPI uplifts. The property was originally acquired in 2003 as part of the syndicated purchase of Chartwell Land, when Wilkinson Williams acted for the purchaser.
For further information please contact: