King Sturge - Retail Sale - Bournemouth, Dorset

Date: 09 Oct 2008

Ropemaker Properties Ltd has purchased the freehold of 41/43 Old Christchurch Road Bournemouth on behalf of BP Investment Management Ltd from The Scottish Amicable Insurance Fund for £9.87 million giving a 5.75% initial yield.

The investment comprises two well configured retail units located in 100% prime position on Old Christchurch Road. The property is well let to Monsoon and Topshop/ Topman with eleven and six years term certain on the respective leases. The building was constructed in 2004 behind the original 1880 frontage to provide two good sized floorplates suitable for modern retailing.

The purchase continues BP's strategy to target 100% prime blocks in strong towns and cities in the UK. King Sturge acted for BP on both the investment purchase and the building survey. PRUPIM handled the negotiations for The Scottish Amicable Insurance Fund in-house.

41/43 Old Christchurch Road