Property News - Widows sells Perth share

Scottish Widows Investment Partnership, on behalf of the UK Balanced Property Trust, has sold Phase III of the St Catherine's Retail Park, Perth, Scotland, to a private investor for£10.25 million, reflecting a net initial yield of 5.5 per cent. The open A1 park has three units totalling 40,275 sq ft (3,750 sq m) and is let to Comet, Brantano and TK Maxx. King Sturge advised the purchaser, while FPD Savills acted for Scottish Widows.