Property News - Hercules sells Priory park

The Hercules Unit Trust has sold the Priory retail park at Merton, south-west London, to British Land for£34.7 million reflecting a net equivalent yield of 6.23 per cent. The park comprises 70,170 sq ft (6,520 sq m) in seven units, and tenants include PC World, Carpetright, Harveys, Currys, Burger King and Carphone Warehouse. The park has a restricted planning consent, and Andrew Jones, director of Hercules' manager Pillar Property, said the fund was now concentrating on larger parks with predominantly open A1 planning consents.