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Eastbourne park changes hands

Published:  20 June, 2006

CB Richard Ellis Investors has acquired the Hampden Retail Park in Eastbourne, East Sussex from Dawnay Day for 9.16m, reflecting an equivalent yield of 4.72 per cent.

The scheme comprises 27,574 sq ft (of retail warehousing space. Existing tenants include Comet and PC World, producing an annual rental income of 387,172.

Edgerley Simpson Howe & Partners advised the purchaser, and surveyor Jamie Naughton said: "This is a very good investment that has all the property fundamentals we required and the potential to increase rental levels. With investment requirements for the sector at an all at time high, it is increasingly hard to buy quality stock such as this."

Singer Vielle advised Dawnay Day.