LaSalle Investment Management has sold leisure scheme the Parkway, Bury St Edmunds, for £14.1m a 4.99% yield.
The 39,998 sq ft scheme, which was completed in 2005, has been sold to a private client of MacLaren Partners.
The property is let to tenants including Cineworld, Frankie & Benny’s, KFC, ASK, Giraffe and Subway and has a total passing rent of £750,077 pa.
Andrew McGregor, partner, Knight Frank, said: “We had significant interest in this asset, all from UK institutions. This created competitive tension and hence achieving a very strong price.”
Knight Frank acted on behalf of LaSalle Investment Management.
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