Red Kite on behalf of Taris Real Estate Europe 1 LLP has secured the third property for the Taris Retail Property Fund.
The property in Sudbury is let to New Look and M&Co for a remaining term of four years at a rent of £90,000 p.a. and £85,000 p.a. respectively.
The property matches perfectly into the Taris Real Estate Europe 1 LLP business plan of acquiring short leasehold prime pitch properties in secondary market and cathedral towns.
Red Kite will asset manage the property along side its partner, Mark Sachon, of London and Lothian with the purpose of adding value through lease restructuring prior to or at the point of lease end.
Rawstron Johnson acted for Taris Real Estate Europe 1 LLP in the acquisition and Smith Price acted for the vendor who was a private investor.