Home About Portfolio Team Partners News Quadrant Repurpose Contact
Pramerica buys Templars Retail Park
January 28, 2016

Pramerica Real Estate has bought the 138,500 sq ft Templars Retail Park in Oxford for £67m.

The park, which has an average weighted lease term of 10.9 years, was sold by Quadrant Estates and joint venture partner KKR for a net initial yield of 4.99%.

The park was bought in 2013 as part of the joint venture’s wider Tuscany retail park portfolio acquisition for £112.5m, a yield of around 7.5%, marking KKR’s debut European direct property deal.

Since the acquisition the the reconfiguration of the former B&Q unit has been completed and lettings to Sainsburys, Poundland, Pets at Home, Costa and Pure Gym at rents up to £32.50 per sq ft have been agreed.

The park is also let to TK Maxx, Matalan, Asda Living, JD Sports, and Halfords.

JLL acted for KKR and Quadrant.

View all our news