Legal & General acquires Carlisle retail warehousing
10 November 2006
Legal & General UK Property Trust has acquired Station Road Retail Park, Carlisle, for £11.3 million, on a net initial yield of 4.5%. King Sturge’s Manchester office advised on the transaction.

The four unit scheme is let under two leases to Staples until 2023 and Matalan until 2025. It is centrally located and backs on to Carlisle station.

Mike Barrie, Director of Fund Management said "The property unit trust is very keen to acquire assets such as this which offer quality income streams but with the potential for some active management in the future."

The property is the 8th acquisition for the trust since its launch at the end of February this year.

The vendor was a private client of Savills.

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