Ringtail Retail Park

Ormskirk, Lancashire

This convenience retail park was acquired from administrators to Investec Bank in Q3 2021. Newly built in 2014-17 in three phases the park comprises a standalone Booths foodstore, a multi-let terrace anchored by ALDI and B&M and a smaller terrace and filling station. The income is highly defensive with 15 years weighted average lease term comprised 65% grocery income and 80% Essential Retailer income, with one quarter of the park income also on inflation-protected leases. The asset was profitably sold within a portfolio to Realty Income in Q2 2022.