Maples Teesdale advises Patrizia on the sale of Maskew Retail Park, Peterborough
Maples Teesdale have advised Patrizia AG on the sale of Maskew Retail Park in Peterborough, on behalf of its UK Value 2 Fund to a private family trust. The sale was effected as a corporate sale of the Jersey limited company that owned the asset.
The 165,000 sq ft park is made up of five units, let to B&Q, Argos, Aldi, Matalan and Currys PC World, with most of the leases recently regeared to reflect market rates. Rent totals £2m each year at the park, at around £17/sq ft, with a WAULT of 10 years. The site also includes planning consent to allow for food sales, bulky goods and the potential sub-division of the units, as well as a drive-thru in the car park.