Hercules offloads retail parks

摘要

The Hercules Income Fund is preparing to market more than a third of its retail parks for just more than £30m. The fund, which is asset managed by British Land, wants to sell the Davigdor Road Retail Park in Hove for around £13m, the Blackwood retail park in Cwent for around £9m, and the Matalan store on Transit Way in Plymouth for around £9m. The parks could be sold individually or as one lot, and are expected to reflect yields of between 6.5% and 7%. The fund is valued at around £100m and contains eight retail parks. Wilkinson Williams has been appointed to market the three schemes.