Capital & Regional (C&R) has exchanged contracts on the £43.75m sale of the Westway Shopping Park in Greenford, Middlesex, to the Co-operative Insurance Society.
The deal represents a net initial yield of approximately5.75%. The proceeds will be used to reduce borrowing and continue the ongoing share buy-back programme at the company.
The 11,152 sq m (120,000sq ft) development was originally bought by C&R in February 1999.
Harvey Spack Field acted for the vendor, while King Sturge represented the Co-operative Insurance Society.
EGi News 13/12/00
