Acting on behalf of clients of BP Investment Management Limited, Macarthur Wilson has purchased the freehold of Hathaway Retail Park, Chippenham, from PRUPIM for £14.93 million.

 The 80,650 sq ft scheme comprises a terrace of 10 units, which are fully let to tenants including Homebase,  Tesco, Halfords, Laura Ashley, Bathstore.com and Dreams.

 The park is located at the edge of Chippenham town centre and benefits from an Open A1 non-food retail consent.

 Philippa Carey, the acquiring agent of Macarthur Wilson, says “the investment is the dominant retail park in a strong market town.  It benefits from an Open A1 consent and is located within the town centre boundary.  It is fully let to solid covenants and there are numerous asset management opportunities that can be implemented to further enhance the performance of the park.  As such it satisfies key purchase criteria for this asset class”.

 The total current income is £1,342,108 and the purchase price reflects a yield of 8.5%.

 Macarthur Wilson advised BP Investment Management Limited and Jones Lang LaSalle advised PRUPIM.