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LONDON-White Rock Properties, a new player in the investment market, has teamed up with a discretionary client of ING Real Estate to buy a retail park investment in Ipswich, Suffolk. It has paid clients of Morley Fund Management £14.75 million ($24 million) for the 98,000-sf Suffolk Retail Park

The five-unit retail park was built in 1991 at a busy road intersection just off the ring road approximately ¾ mile west of Ipswich town centre. It has an open A1 non-food planning consent, subject to restrictions on the sale of adult fashion clothing. .

Occupiers include The Range; Dunelm; Brantano and Halfords together with a 450-space car park.. Total rental income is just over £1 million ($1.6 million per annum showing a net initial yield of 6.7%.

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