On behalf of the Hunter UK Retail Unit Trust, Hunter has completed the sale of the long leasehold interest 1-15 Union Street, Bristol for £9.925m reflecting a yield of 6.7% NIY.
The parade of 15 shops is let to 12 tenants including Cotswold Outdoor, Costa Coffee, Pure Gym, Poundland and Pure Electric.
The asset has provided resilient income for the Hunter UK Retail Unit Trust and the sale has crystallised a profit over the hold period despite challenging economic conditions. The disposal highlighted that there is good investor appetite for city centre retail let at affordable rents.
Knight Frank and Sheridan Property represented Hunter REIM while Fawcett Mead represented the purchaser.