DTZ Investment Management has acquired the St John's retail park in Wolverhampton for nearly £41 mln (EUR 46 mln), reflecting a yield of 5.75%. The vendor was Aberdeen Asset Management.

The St John's retail park offers over 10,000 m2 of retail space with tenants including Currys, Comet, Next, Homebase and PC World.

CWM advised DTZ IM, while Harvey Spackfield acted for Aberdeen.

The acquisition comes hard on the heels of DTZ IM's purchase of the 4x4 Portfolio from Liverpool Victoria Asset Management. The investment volume of £28.5 mln reflected a net initial yield of 7.58%.