Wednesday, 6 April 2011

Standard Life Property Fund buys £21m site | What Investment

Standard Life Property Fund buys £21m site | What Investment

Standard Life Investments’ UK Property Fund has completed the acquisition of a commercial retail park in Trowbridge, Wiltshire for £20.7 million.

The purchase reduces the cash position in the Fund to 10.70 per cent and the purchase price represents an initial yield of 5.7 per cent.

Purchased from developers Parkridge, Gateway Shopping Park was completed in 2009 and comprises six retail warehouses totalling 56,630 sq ft and a 226 space car park.

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