On behalf of local authority clients, Wilkinson Williams acted in the acquisition of the freehold interest in the Ferndown Centre in Ferndown for a price of £26 million.
The property was acquired from clients of TIAA Henderson Real Estate. The property comprises a foodstore extending to approximately 62,440 sq ft, together with 12 adjacent retail units, a customer car park and petrol filling station.
The entire property is let on an overriding lease to Tesco until 2029.
The purchase reflects a net initial yield of 5.65%.
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