The retail park sold for around a £1m less than its asking price. Credit: Park Place Retail

Lichfield Retail Park sold for £9.5m

Swiss Life Invest has found a buyer for its 45,000 sq ft Staffordshire retail estate, with the shopping outlet acquired by a French investment vehicle.

Lichfield Retail Park had been on the market for four months before it was snapped up by the undisclosed buyer. The guide price had been £10.4m.

The SPCI paid £9.5m for the 2.7-acre park, which is fully let. Tenants include Halfords, Pets at Home, Jetts Fitness, and Easy Bathrooms.

Built in 2010, Lichfield Retail Park sits off Vulcan Road and generates £800,000 a year in rental value.

Park Place Retail represented Swiss Life on the deal.

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