M&G sells Hemel retail
M&G Real Estate has sold a retail parade in Hemel Hempstead to Capital & Regional for £10.5m – a 7.8% yield.
The 50,198 sq ft property includes tenants Maplin Electronics and NatWest Bank.
The current rent roll is £868,430 a year.
Fawcett Mead acted for M&G; Savills advised Capital & Regional.
Land Securities sells E1 square
Land Securities has sold the Thomas More Square estate, E1, to Resolution Property for £300m – a 5.5% yield.
The fund manager entered exclusive talks to buy the 566,000 sq ft office campus at the end of last year.
Resolution was advised by Ashwell Rogers and GM Real Estate; CBRE acted for Land Securities.
Boultbee sells Leeds office
Boultbee Brooks Real Estate has sold St Paul’s House in Leeds for £23.7m, a 6% initial yield.
The 65,000 sq ft Grade II* listed building was bought by Michael and Steven Elghanayan’s EPIC UK following a refurbishment and letting to DAC Beachcroft.
Aurum Real Estate advised BBRE; Knight Frank advised EPIC UK.
Tritax buys big Argos box
Tritax Big Box REIT has bought the Argos national distribution centre at Burton-upon-Trent, Staffordshire, for £74.7m.
The 653,670 sq ft centre at Barton Business Park is let to Argos on a 12-year lease, reflecting a yield of 5.6%.
JLL represented Tritax; David Baroukh Associates advised the vendor.
Mayfair Capital sells in Sheffield
Mayfair Capital has sold 2 Europa View in Sheffield to Infinity Investments.
The 20,493 sq ft office at the Sheffield Business Park was sold by the company’s Property Income Trust for Charities for £2.3m, representing an initial yield of 8.5%.
Knight Frank acted for the vendors; Stephenson Day advised Infinity Investments.
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