DTZ buys Kingsditch retail park for 42 million pounds

DTZ Investors has acquired the freehold interest in Kingsditch Retail Park, Cheltenham for 42.40 million pounds.

The retail park, located on the A4019 (Tewkesbury Road), comprises of a multi-let out-of-town retail scheme and adjoining industrial estate, including Marks and Spencer, Halfords, B&M and ScS.

The acquisition for Strathclyde Pension Fund supports the fund’s strategy of “investing in strong locations with asset management opportunities,” said DTZ Investors, and reflects a net initial yield of 5.65 percent.

This the latest regional retail park that DTZ Investors has acquired, last month they secured the freehold interest in Wheatley Hall Trade Park, Doncaster for 6.63 million pounds, reflecting a 6.4 percent net initial yield.