A retail park which is home to a host of household names has been sold for £10.8million.

Jubilee Close Retail Park in Weymouth was bought by the Leicester-based property investment company Custodian REIT.

The 44,844sqft park consists of three units occupied by B&Q, Halfords and Sports Direct.

The buyer funded the deal through existing debt resources.

Richard Shepherd-Cross, managing director of Custodian Capital – the buyer’s discretionary investment manager – said: “Despite the investment market’s aversion to the retail sector, we believe that these occupiers will continue to prosper despite challenges from on-line sales and with nearly eight years contractual income, strong trading performances and a seven per cent initial yield, this property meets our investment criteria.

“We believe well located retail warehouse properties which either do not compete with on-line retailing or are complementary, through offering easy click and collect services, will remain in demand despite the current restructuring of the retail market.

“Given the substantial opportunities in our existing pipeline and our strong capital base, we are now well positioned to deliver a meaningful improvement in earnings and return on capital in the years ahead.”

The same property investor spent £14.2m buying Evesham Shopping Park, a 43,000sqft shopping centre in Worcestershire, last month.

Custodian REIT seeks “high and stable dividends from well-diversified UK real estate”.