A retail park in Northampton town centre has been sold for more than £53 million, it has been confirmed.
DTZ Investment Management has purchased the freehold interest in St James Retail Park, off Towcester Road, for £53.25 million.
The sale reflects a net initial yield of 6.1 per cent.
The retail park, which totals 164,229 square feet, features 11 retail units, including Next, Laura Ashley, Toys R Us, Mothercare and Starbucks.
Retail Fund Manager David Hyland of DTZ Investment Management, said: “St James Retail Park has a strong tenant mix in a very good location.
“There are a number of asset management initiatives that we hope to implement in order to drive the asset’s performance.”