Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Chartwell Land, the property arm of Kingfisher, has sold the Carnegie Retail Park, Dunfermline to a joint venture between Bank of Scotland and two private investors for £14.7 million ($22 million). The sale price reflects a net initial yield of 7%.

The retail park has a bulky-goods consent and comprises 98,600 sf. It is let at rents of between £10.50 and £13.10 per sf, with rent reviews due in 2005.

Chartwell Land director Mark Witham said: “The sale allowed us to alter our weightings of investment in the UK and, in particular, Scotland. The cash will now be reinvested this financial year in other opportunities, which are currently being sourced.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.