London firm sells Leeds retail park in £25m deal

A London property investor has announced that it has sold its Leeds retail park in a deal worth more than £25m.

LondonMetric Property has sold Kirkstall Bridge Shopping Park to a UK institutional investor in a £25.2m deal.

The 120,000 sq ft site has 18 units, with occupiers including The Range, Home Bargains, Smyths Toys, Iceland, Pets at Home and JD Sports.

Andrew Jones, chief executive of LondonMetric, commented: “This is a strong trading retail park and its sale is in line with our strategy to divest our last few remaining multi-let retail parks.

“We have seen an uptick in investor interest for well let and located retail parks which is reflected in the sale price achieved.

“Our strongest conviction calls remain urban logistics and convenience led long income and the sale proceeds will be allocated into these sub-sectors.”

LondonMetric was advised by Morgan Williams and Avison Young. The purchaser was advised by Bruce Gillingham Pollard.