Retail Property - Haslemere sells park for £36.5m

Haslemere has raised£36.5 million with the sale of Phase II of the Clifton Moor retail park in York to Railway Pension Nominees. The price reflects an initial yield of 5.2 per cent.

The 16,000 sq m park has a single terrace of 12 units and tenants include Matalan, Harveys, Carpetright and Dunelm. The rental income is£2 million, although the latest lettings have been struck at£180 per sq m.

Haslemere is coming to the end of the disposal programme put in place earlier this year, and it says it now has funds allocated for reinvestment.

Dalgleish acted for Haslemere and Jones Lang LaSalle advised the purchaser.