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Email: Phone: 0207 486 5777

Red Kite Sells Retail Holding in Eastgate Street, Gloucester, for £4.2m

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.