Receivers at BDO have completed the sale of Bouverie Place Shopping Centre in Kent to David Samuel Properties.
The Folkestone mall was bought for £10.9m, reflecting a 13.2% yield. It measures 259,459 sq ft. Tenants include TK Maxx, JD Sports and Asda.
M7 provided a £7.4m loan to back David Samuel’s purchase last month, on behalf of its UK debt fund TREC II.
Tristan Capital Partners, on behalf of CCP III, and Ellandi previously bought the 231,000 sq ft mall for around £22m in 2013 from receivers.
Savills advised BDO, while Investmark UK acted for the buyer.
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