State Street snaps up North Yorkshire retail park
3rd October 2025 | Jack Oliver
State Street Investment Management has acquired a retail park in Ripon, North Yorkshire, for an undisclosed fee.
The group has acquired St Michael’s Retail Park, a 24,000 sq ft asset currently let to M&S and Next, as well as an EV charging operator.
The retail park has a weighted average unexpired lease term of 13.7 years to expiry and 12.8 years to break. All of the park’s income is subject to five-yearly upwards-only CPI-linked rent reviews.
Although the selling price was undisclosed, the retail park had been marketed with an asking price of £8.1m.
TW Keil acted for State Street. Knight Frank acted for the vendor Rothstone Estates.