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Ipswich retail park sold for £22m

Ipswich retail park Martlesham Heath has been sold for £22m to an unnamed buyer.

Former owner LondonMetric Property purchased the 48,000 sq ft retail park, which includes stores such as Mountain Warehouse, Shoe Zone and Marks & Spencer, for £10.4m in 2013.

The buyer was a “long-term investor”, LondonMetric said in a statement.

Commenting on the sale, Andrew Jones, chief executive of LondonMetric, said: “While demand for physical retail assets continues to polarise rapidly, investor appetite for long and strong income remains healthy.

“The sale is in line with our strategy of divesting our last remaining operational retail assets upon completion of their business plans.”

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