Kirkstall Bridge Shopping Park has been sold to an unnamed UK institutional investor for £25 million.
Current owners LondonMetric Property announced the sale today. The 120,000 sq ft shopping park was developed by LondonMetric in 2015 after acquiring the site in 2011.
It is fully let and home to businesses including Smyths Toy Superstore, Home Bargains, Pets at Home and Icelend. Earlier this year The Range opened up a store at the retail park.
Andrew Jones, Chief Executive of LondonMetric, said in a statement:
“This is a strong trading retail park and its sale is in line with our strategy to divest our last few remaining multi let retail parks. We have seen an uptick in investor interest for well let and located retail parks which is reflected in the sale price achieved.
“Our strongest conviction calls remain urban logistics and convenience led long income and the sale proceeds will be allocated into these sub-sectors.”
Following the recent re-letting of a 21,000 sq ft unit to The Range earlier this year, the 18-unit park is fully let to occupiers including Home Bargains, Smyths Toys, Iceland, Pets at Home and JD Sports.