AVIGNON CAPITAL ACQUIRES TWO PRIME RETAIL ASSETS IN LEAMINGTON SPA
Avignon Capital has acquired two prime retail units with office uppers in Royal Leamington
Spa for £2.09m, which represents a net initial yield (NIY) of c.6.00%.
The two retail units are located on The Parade, Leamington's main shopping thoroughfare,
adjacent to the entrance to the Royal Priors shopping centre; they are currently let to retailers
Smiggle, Vodafone and T(n)S Catering Management. The location of the assets has proven
popular with shoppers, situated opposite M&S and
H&M, in an area boasting striking Georgian
architecture.
Leamington Spa features in Savills top 15 UK retail
towns, according to research published in June 2016.1
Phil Walker, Senior Asset Manager at Avignon
Capital, said: “Leamington Spa is Avignon Capital’s
fourth retail acquisition in an affluent UK town in the
past 6 months, following purchases in Guildford,
Cheltenham and Croydon.
There is strong demand for the right location within
Leamington Spa and this asset occupies a prime pitch
in the town. In addition, the office element on the
upper floors gives rise to good asset management
opportunities whilst being underpinned by the retail
units below.
This acquisition demonstrates our appreciation for strong retail assets located in attractive
towns.”
Avignon Capital has seen significant additions to its domestic portfolio, with a total 9 UK
acquisitions in 2016; the most recent deal was the purchase of three prime retail assets in
Croydon for £6.05m.
For more information, please contact Laura Rinaldi, Marketing and Communications Manager
at Avignon Capital on +44 (0)20 7299 7850 or via email [email protected].
1 http://232.v3.savills-vx.com/_images/retail-twon-ranking-top-15.png?1481630209.45685