Property News - Pettifer Estates sells retail development

Pettifer Estates has sold its recently-completed retail development at St Peter's Way in Northampton to a pooled charities investment fund for more than£5 million. The deal on the store refects a yield of just less than 6 per cent. The 21,500 sq ft (2,000 sq m) store, which has a 10,000 sq ft (930 sq m) mezzanine and parking spaces for 44 cars, forms an extension to the St Peter's Way Retail Park. It has been let to discounter TK Maxx on a 15-year lease. Wilkinson Williams acted for Pettifer Estates. Knight Frank represented TK Maxx and King Sturge advised the purchaser.