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Mallard Road

Henderson buys Retail Park in Bournemouth

Henderson Global Investors’ c.£12.7 billion Property business has purchased a 125,000 sq ft Retail Park in Bournemouth.

Henderson Global Investors’ c.£12.7 billion Property business has purchased a 125,000 sq ft Retail Park in Bournemouth. Mallard Road Retail Park was acquired from Orchard Street Investments for £34 million at a net initial yield of 7.5%.

The asset sits within close proximity of Bournemouth centre and Castlepoint, the UK’s largest fashion retail park. The scheme benefits from strong rental covenants, with Homebase as its principal tenant.

Marcus Langlands Pearse, Director of Property, at Henderson, said: "This was an excellent opportunity to acquire long secure income at a good yield within a strong retail location, enhancing the distributions for the fund. The proximity to Castlepoint Retail Park is likely to drive higher occupier demand in a recovering retail environment. We are confident that it will achieve sustainable growth over the coming years.”

Orchard Street was advised by Morgan Williams.

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