Kings Lynn – St Nicholas Retail Park

A nine-acre urban regeneration site acquired in 2002 for £650,000 following receipt of planning permission for a £10m mixed-use development comprising 75,000 sq ft of retail warehouse units, a food store, a fast-food outlet and 30 residential units.

Work was completed on the infrastructure and first phase of the retail development in 2004.

Retail units let to Wickes, Choices, Lituanica and Farmfoods. The main retail element forward-funded with evolve for £6.5m, representing a 6.25% net initial yield. The residential site was sold to Broadland Housing Association in December 2003. The supermarket was sold to Netto.