Bourne End Properties exchanged contracts to buy a 8,453 sq m (91,000sq ft) retail and office centre in Nuneaton, Warwickshire, from BAA. The cost is£9m.
The deal has been struck through the issue of 847,458 new ordinaryBourne End shares and £8.5m in cash.
The 1960s complex, known as the Abbeygate shopping centre, has 7,153sq m (77,000 sq ft) of covered retail space and 1,300 sq m(14,000 sq ft) of offices. Abbeygate currently produces a total of£870,000 pa, reflecting a 9.3% net initialyield.
- The Times 20/02/98 page 28 (Business Roundup)
- Financial Times 20/02/98 page 25 (News Digest)
