Sep 15 2011
Metric has acquired Pierpoint Retail Park, King's Lynn from Black Pearl Investments for £15.1 million (net of acquisition costs), reflecting a net initial yield of 6.3%. The average passing rent on the scheme is £15.20 psf, with existing rents ranging from £13.65 psf to £22.50 psf. The average unexpired lease term is 4.1 years. Metric will use its existing financial resources to finance the purchase.
The full announcement can be found in the attached file.
Download