Property News - Tesco buys Dudley park

Royal London Asset Management has sold the Towngate Retail Park at Dudley in the West Midlands to Tesco. The 3,920 sq m scheme adjoins one of the supermarket operator's stores and comprises two units with open A1 consent, let to Focus Wickes and Office World for a further 16 years. Annual rent is£402,500 with a review due in 2004. Cushman & Wakefield Healey & Baker acted for Royal London Asset Management. Morgan Williams advised Tesco.