Property News - Halifax park sold by Asda

Asda Properties has sold Crossley Retail Park on Pellon Lane, Halifax, to Citigroup Alternative Investments for£8.5 million. The scheme provides 46,975 sq ft (4,365 sq m) of open A1 retail warehousing, comprising five terrace units and 198 parking spaces. Four of the five units are let to Aldi, Halfords, Pets at Home and Poundstretcher on 25-year terms from 1995 at£11 per sq ft (£118 per sq m). The purchase shows a net initial yield of 6.13 per cent and a net equivalent yield of 7.1 per cent.