Carisbrooke Retail Park
4Prop Research
Dec 31, 2009 
183
Location: One of the principal schemes in Newport. Major redevelopment and refurbishment proposed. Tenants: Argos, Dreams, Sleepmasters Scheme Size: 77,000 sq ft Planning: Restricted A1 LxB Properties Ltd have acquired the Carisbrooke Retail Park on Gunville Lane, Newport, Isle of Wight for £6.7m from Fairholme Estates (Holdings) Ltd. The property comprises three retail warehouse units, let to Argos and Island Dreams together with an industrial unit occupied by Polyflex Circuit and has a gross internal area of 77,180 square feet. The purchase price reflects a net initial yield of 6.35% with reversions due. Smith Melzack Pepper Angliss acted for the vendors and the purchasers were advised by Wilkinson Williams.
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