Buyer of LondonMetric’s Weymouth retail park revealed
Colliers Global Investors has been revealed as the purchaser of a retail park in Weymouth sold by LondonMetric Property.
The sale of Phase Two of Weymouth Gateway Retail Park was announced by LondonMetric on Thursday alongside a number of other retail and office disposals.
The asset – which was purchased for £14.3m – spans 51,000 sq ft and is currently fully let to B&M, Dunelm, McDonald’s, and Costa Coffee. The scheme has a weighted average unexpired lease term to first break of 12 years.
Liam Stray, senior associate at Allsop, which acted for Colliers Global Investors, said: “The completion of the deal demonstrates the strong investment opportunity and appeal of high-quality retail assets. Their strategic location, diverse tenant mix, and resilience to economic fluctuations make this a stable and attractive asset.”
LondonMetric was advised by Park Place Retail.