CTP sells Park Central, Chelmsford
29 April 2008
The 29,326 ft² scheme was sold in a deal valued at £6.55 million
CTP has sold the freehold retail investment in Park Central, Chelmsford to a private client of CBGA in a deal valued at £6.55 million showing a net initial yield of 6.9%.
The 29,326 ft² scheme comprises 11 retail units and is anchored by a Tesco Express with other tenants including Subway, Coral and Greggs. The new development will produce an estimated income of circa £478,000 pax once fully let.
The average lease runs to mid 2022 with the next rent reviews scheduled between November 2011 and August 2012.
The disposal of the scheme completed a successful four year partnership between King Sturge and CTP in Chelmsford after involvements in both the letting and management of the scheme.
