Canada Life sells Devon retail park above asking price

Canada Life Asset Management has completed the sale of a retail park in Devon for a final price that exceeded the quoting level.

Roundswell Retail Park in Barnstaple had been placed on the market earlier this year with a minimum price tag of £14.5m.

Located on a 7.19 acre site, the 73,500 sq ft asset is anchored by Aldi, with other tenants at the scheme including Dunelm, Home Bargains, Sports Direct, McDonalds, and Costa Coffee.

At the time the sale was launched in May, the retail park had a weighted average unexpired lease term of 8.56 years to expiry and 7.44 years to break.

TW Keil – which acted for Canada Life Asset Management – said the sale received strong depth of bidding.

FMX Urban Property Advisers acted for the purchaser.