Housebuilder and developer Wilson Bowden has sold a leisure development in Nottingham city centre to BP Pension Fund for £50m.
Wilson Bowden has sold The Cornerhouse, an 18,580 sq m (200,000 sq ft), 27-unit, leisure scheme to Ropemaker Properties, a nominee of the BP Pension Fund. The sale price reflects a net initial yield of 6.25%.
The scheme is anchored by a 14-screen Warner Village cinema. Other tenants include First Leisure, Virgin Active, TGI Fridays and Wagamama.
David Wilson, Wilson Bowden chairman and chief executive, said: “The Cornerhouse is a flagship scheme and I am delighted that BP have subscribed to our vision of delivering a pre-eminent leisure development.”
EGi News 17/10/00
