£50 million deal for Kittybrewster Retail Park
The Junction, the specialist out-of-town retail fund managed by Capital & Regional, has bought the Kittybrewster Retail Park in Aberdeen from Legal & General for£52.6 million, showing an initial yield of 4.73 per cent and an equivalent yield of 5.75 per cent.

Tenants on the park, which has unrestricted Class I (non-food) planning permission, include DFS, Currys, Comet, Halfords, Carpetright, TK Maxx and Office World. The park measures 140,825 sq ft (13,080 sq m) and has achieved a top rent of£22.50 per sq ft (£240 per sq m).

The Junction chief executive Andrew Lewis-Pratt said: 'Kittybrewster Retail Park is a significant addition to our 3.2 million sq ft [297,280 sq m] prime retail park portfolio. The purchase reflects our ongoing strategy to enlarge our Junction portfolio by investing in destination retail parks with high development and asset management potential, particularly those dominant within their catchments.'

Stockford Staunton and Eric Young & Co acted for Legal & General. Jones Lang LaSalle represented The Junction.

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