A foodstore and retail development in Penrith has been sold to private investors for £4.15m.
Booths Penrith, the joint venture development company between Preston-based Maple Grove Developments and supermarket operator E H Booth & Co, said the deal represented an initial yield of 5.1%.
The site, which is located on Brunswick Road immediately to the north of Penrith town centre, comprises a 32,604 sq ft foodstore, an adjoining retail unit of 6,109 sq ft and a 170 space car park.
The private investors are clients of LaSalle Investment Management. Knight Frank acted for LaSalle Investment Management in the deal.
Robert Pinkus & Co acted for Booths Penrith.