Retail park sold in £7.5m deal
A retail park in Cannock has changed hands in a £7.5 million deal.
Property company London Metric Property has completed the sale of Watling Retail Park to an unnamed buyer, identified only as "a UK institution".
The 25,000 sq ft retail park was developed by LondonMetric in November 2012, and is fully let to DFS, Carpetright and Porcelanosa.
It comes alongside another sale by the company, of a site in Enfield in London, for £24.5 million.
Chief executive Andrew Jones said: "We view the retail property sector opportunistically and will recycle assets which have delivered on their business plans. Both of these assets have generated very strong returns for us and we will continue to capitalise on the high demand from institutions for strong, well-let real estate."
