Quoted mining company Bisichi Mining has bought St Peters Walk Arcade in Northampton as a retail investment, for £2.65m.
The 13,305 sq ft (1,236 sq m) property will be managed by London & Associated Properties, which owns 41.65% of Bisichi Mining.
The purchase increases Bisichi Mining’s retail property investment portfolio to just under £11m with a gross rental income of £1.075m.
Andrew Heller, managing director of Bisichi Mining, said that the surplus income from the portfolio would be used to fund its mining investment programme, while surplus profits from its mining activity would be invested in its retail property portfolio.
Johnson Fellowes acted for Bisichi Mining.
EGi News 19/11/02
