Retail Property - Buyer found for Beckton Triangle

Morley Fund Management, acting on behalf of Commercial Union Life Assurance Company, has paid£63.6 million to buy the Beckton Triangle retail park in east London from Isis Property Asset Management.

The 12,610 sq m park is fully let to tenants including PC World, Currys and Boots The Chemists. The average passing rent is£215 per sq m a year, with most rent reviews due this year. The purchase price reflects an equivalent yield of 5.75 per cent.

King Sturge advised Morley Fund Management. Edgerley Simpson Howe & Partners represented Isis Property.