Red Kite has sold on behalf of a family office a retail investment in Eastgate Street, Gloucester.
The property was held in a joint venture with retail specialist London & Lothian Group.
The tenants were Poundworld Retail and Hutchinson 3G UK paying a combined rent of £331,500p.a. on leases expiring in 2021 and 2017 respectively.
The property was sold to Kames Capital who were represented by Lewis & Partners.
The family office was represented by Fawcett Mead.
The sales yield was 7.45% NIY.