United Friendly has bought a 25% stake in the Whitgift Centre, Croydon, south London, from the Whitgift Foundation for £41m. The price reflects a 7.5% yield.
The Whitgift Foundation has granted United Friendly a 171-year lease on the 88,234 sq m (949,800 sq ft) centre. The rental income is more than £15m pa.
Stiles Harold Williams represented the Whitgift Foundation while Colliers Erdman Lewis and Lambert Scot advised United Friendly.
For more information see Saturday’s Estates Gazette.
Estates Gazette 19/08/96 page 22
