Redevco sell 100% Prime Flagship Retail Development in Bournemouth

Forge are delighted to have advised Redevco on the successful sale of 56-76 Commercial Road, Bournemouth.

The property comprises a 100% prime flagship retail development, totalling circa 60,000 sq ft of retail accommodation.

97% of the income is secured to extremely strong covenants, including Zara, Sports Direct, JD Sports and HSBC.

Having received strong interest from a range of investors, Forge concluded the sale at circa £11,500,000, reflecting a Net Initial Yield of circa 9.65%.

Jonathan Mills commented:

“We are delighted to have completed this 100% prime sale on behalf of Redevco, for which we received very competitive bidding. The property offers arguably the best retail accommodation in Bournemouth, for which there remains strong occupational demand.”

For further information, please contact Jonathan Mills or Joe Baio.