Dumfries Retail Park has been sold on behalf of a local government pension fund for £11m.
It was purchased by a London-based private investor, represented by Archer Property Consultants.
Located on the edge of the town centre, the retail park occupies a position on the Kilmarnock roundabout at the junction of the A75 Dumfries bypass.
The scheme, which extends to 85,752 sq ft and sits on a site of 7.55 acres, is anchored by a recently re-geared 28,050 sq ft Wickes store. The remainder of the park is occupied by tenants including Home Bargains, Currys, Carpetright and Greggs.
Martyn Brown, director at CBRE, which arranged the sale, commented: “With a strong tenant mix and a prime location, including the potential to take advantage of multiple asset management opportunities, the sale attracted strong interest from a range of UK-wide investors.”
Derek Archer, director of Archer Property Consultants, added: “The retail park will provide our client with a good medium to long-term core income, secured to an excellent tenant line-up and let off sensible and sustainable rents.
“There is also the opportunity to enhance the tenant roster via the letting of the remaining vacant space and potential to add a further pod cluster or single unit.”
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