The Junction Limited Partnership, the out-of-town property fund managed by Capital & Regional, has sold the 270,000 sq ft (25,085 sq m) Cockhedge Shopping Park at Warrington to Halladale for£43.3 million.
The purchase price reflects a net initial yield of 6.75 per cent.
The property, on the edge of Warrington town centre, includes a local shopping centre, a 74,000 sq ft (6,875 sq m) Asda Wal-Mart foodstore and 10 retail warehouse units. These are let to, among others, Argos, Comet and Carpetright.
The park produces a rental income of£2.9 million a year.
The Junction chief execu-tive Andrew Lewis-Pratt said: 'This sale is in line with our strategy to create a prime retail park portfolio.
'Over the course of the past 12 months, we have sold a number of our non-core properties in order to focus on destination retail parks that are dominant in their catchment area, with devel-opment and asset management potential.'
King Sturge advised The Junction. FPD Savills represented Halladale.
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