Having purchased on behalf of a private investor back in May 2016, Red Kite restructured the lease with Evans Retail Properties, the tenant, whose lease was due to expire in 2019 and sold the investment to the overriding landlord Plymouth County Council.
Mark Sachon of London and Lothian assisted Red Kite in the asset management.
The sale produced returns on equity over the period owned of 73% and a 46% on a p.a. basis.
Richard Bashford of Fawcett Mead acted on behalf of Red Kite.