Southampton: FPROP buys retail and leisure park

First Property Group, on behalf of Shipbuilding Industries Pension Scheme, has bought Antelope Park in Southampton from Aviva Investors. The park was sold at a guide price of £21.073 million. The deal represents a 6.75% net initial yield.

The mixed retail and leisure property comprises approximately 138,500 sq ft in eight units. These are let to Lidl, The Range, Costa Coffee, KFC, Greggs, Gala Bingo, Oxygen Freejumping and The Gym Group with a WAULT of circa 13 years. 

CWM Out of Town advised FPROP while Savills represented Aviva.

Credit: CoStar