The I-Scene leisure complex (pictured) in Ilford, Essex, has been bought by private Asian investors for more than £21m from Discovery Properties.
The 142,000 sq ft (13,192 sq m) scheme, which opened in 2002, is 88% let. It is anchored by an 11-screen multiplex cinema, operated by Cineworld.
I-Scene also includes three restaurants and a late-night restaurant/bar, a 91-bed Travelodge hotel and an Esporta health club. I-Scene is in a stamp-exempt area near Ilford High Road and the Mall shopping centre.
The £21m guide price reflected a yield of just over 7%, on a passing rent of £1.5m pa.
FPDSavills advised Discovery.
References: EGi News 04/05/04
