Tritax strikes deal on £190m retail park trio

Tritax Group has exchanged contracts to buy a retail park portfolio for around £190m from Standard Life Investments, in a deal of significant scale for the beleaguered sector.

This trio sits in the Standard Life Investments UK Retail Park Trust, and the deal reflects a net initial yield of around 7%.

Two of the properties – Ladymead Retail Park in Guildford and County Oak Retail Park in Crawley – were each valued at £80m-£90m earlier this year, while Luton Retail Park was valued at around £40m-£45m. It can therefore be viewed as a slight discount to book