Our Portfolio
The Junction
The Junction is a specialist retail park fund, owning four retail parks and two development sites, with a total floor space of approximately 1.4 million square feet.
It specialises in mixed use retail parks embracing a variety of uses including food, DIY, homewares, electrical goods and general High Street retailers. C&R holds a 13.4% share in the fund.
2009 saw a refinancing of the fund with a £63.6m equity raise supported by AREA Property Partners, whilst at the same time integrating the external management services supplied to the Fund by CRPM and Aviva Investors. As with The Mall, investors hold units in a Jersey Property Unit Trust (JPUT) with the same potential investment and tax advantages.
The Junction key statistics
| At 31 December 2011 | At 30 September 2011 | |
|---|---|---|
| Property value | £288m | £285m |
| Number of properties | 4 | 4 |
| Number of units | 84 | 84 |
| Initial yield | 5.68% | 5.52% |
| Equivalent yield | 6.92% | 6.95% |
| C&R share | 13.4% | 13.4% |
Top 10 tenants by rental income (December 2011)
| No of units | % of rent | |
|---|---|---|
| B&Q | 2 | 15.0 |
| Tesco | 2 | 6.9 |
| Dave Whelan Sports | 2 | 5.5 |
| NBC Apparel | 2 | 4.5 |
| DSG | 2 | 4.4 |
| Comet | 2 | 4.0 |
| Boots | 3 | 4.0 |
| Carphone Warehouse | 3 | 3.6 |
| DFS | 1 | 3.2 |
| Decathlon | 1 | 3.2 |