APAM has sold five high street retail investments, which were acquired in 2015 as part of the Toucan and Peacock portfolios funded by Värde Partners.
A private investor has purchased 19-21 Albion Place in Leeds for £3.5m, which reflected a net initial yield of 5%. The private investor was represented by Polestar Asset Management.
This has been followed by the sale of 20-22 Queen Street, Cardiff, to a property company for £2.1m – a net initial yield of 7.19%.
A family trust has bought two assets; 12 Culver Street West, Colchester for £6.5m – a 5.71% and 24 Broad Street, Reading, for £4.7m – a 4.33% yield, while 202 High Street, Lincoln, was sold to a private investor for £3.1m, reflecting a net initial yield of 4.5%.
Simon Cooke, director at APAM, said: ‘These sales have produced a profitable exit over a short period of time and provide further evidence of the merit in investing in the UK retail sector.”
GCW advised APAM and Värde Partners.
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