Enstar bags Caprini House
Enstar Capital has bought Caprini House at 163-173 Praed Street, W2, for £5.9m – a 4.25% yield.
The block, let to tenants including Aberdeen Steak House, will be rebuilt into a 14,775 sq ft office-led scheme renamed Enstar House.
Stephen Kane & Company acted for the private Italian family vendor; Enstar was unrepresented.
Virgin gyms work out for LaSalle
LaSalle Investment Management has acquired two Virgin Active gyms totalling 205,618 sq ft from Threadneedle for £9m – a 6.63% yield.
The first covers 80,162 sq ft in Glamorgan, Wales, and the second extends to 125,456 sq ft in Middleton, Greater Manchester.
LaSalle was represented by B8 Real Estate and CBRE; GVA advised Threadneedle.
Vixcroft buys Berkshire mall
Vixcroft is buying the Nicholsons Centre in Maidenhead, Berkshire from Irish Life for £37m – a 6.2% yield.
Irish Life paid £85m for the 170,000 sq ft mall – let to tenants including Tesco, Argos and Next – in 2007.
Fawcett Mead and Knight Frank advised Vixcroft; DTZ acted for Irish Life.
Telford centre sold for £250m
Orion Capital Managers has bought Telford shopping centre in Shropshire for £250m – a 6.5% yield.
The 1m sq ft centre was bought from Ares Management.
It is anchored by Debenhams, Marks & Spencer and Asda.
Savills represented Orion; CBRE acted for Ares Management.
L&G makes debut PRS buy
Legal & General Capital has bought a redevelopment site on the Ferry Lane Industrial Estate in Walthamstow, E17, for £25m from L&G’s Industrial Property Investment Fund.
The project covers 300 flats and will be L&G’s first direct exposure to PRS development. JLL advised IPIF; CBRE acted for L&G.
