Orchard Street Investment Management, the specialist commercial property investment manager, has announced it has exchanged on the acquisition of Christchurch Retail Park, Dorset, from LondonMetric Property Plc for £34.5m. The acquisition is due to complete by 31 March 2017.
The largest retail park in Christchurch, the asset is fully let and comprises approximately 104,000 sq ft of modern space across nine units. There are 404 customer car parking spaces at the park, which is anchored by Homebase and where other tenants include Pets at Home, Halfords and Costa Coffee.
Tom Chadwick, associate partner at Orchard Street Investment Management, commented: “Christchurch Retail Park is a high quality retail park which will be a strong addition to the portfolio. We look forward to executing the asset management strategy to drive the income return and extend the WAULT on this prime asset.”