ING Real Estate Investment Management has placed Delancey’s Arc shopping centre in Bury St Edmunds under offer for over £75m and a 5.5% yield.
Delancey put the 265,000 sq ft Suffolk scheme, which opened in March 2009, on the market in January for £70m – a 6.5% yield.
It is thought 10 bids were received for the Arc.
LaSalle Investment Management, Legal & General Property, PRUPIM and Scottish Widows Investment Partnership were all interested in the shopping centre.
Jones Lang LaSalle is advising Delancey; Knight Frank is advising ING.
