NewRiver buys in Bexleyheath
NewRiver Retail has bought the Broadway Shopping Centre and Broadway Square retail park in Bexleyheath, south east London, from LaSalle Investment Management. It paid £120.3m for the assets, which have a net rental income of £8.2m – a 6.7% yield. JLL acted for LIM.
College buys SW6 restaurant
A Cambridge college has bought the freehold of 45-47 Parsons Green Lane, SW6, from a private UK investor. It has paid £3.7m – a 3.2% yield – for the asset, which is let to Côte Restaurants on an operational lease. Bidwells advised the purchaser; the vendor was unrepresented.
Keypoint office in Bristol sold
CBRE Global Investment Partners has sold a 63,504 sq ft office building in Bristol. The Keypoint office in Almondsbury Business Park was bought by a private overseas investor for £16.8m – a 5.7% yield. CBRE Bristol advised CBRE GI, Phillips Roth advised the buyer.
Oxford conversion block sold
Harmsworth Pension Funds Trustees has sold 22 homes at 52 New Inn Hall Street, Oxford, to private buyers for more than £7.8m. The former offices, converted to residential use by Alaska Developments through permitted development rights, totals around 13,500 sq ft over four floors. The ground floor is let to Mitchells & Butlers. Helix Property Advisors acted for Harmsworth Pension Funds Trustees.
Anvil passes out parade
Mount Anvil has sold a retail parade in Wandsworth, SW18, to Thackary Estates for £4m – a yield of 7.5%. The assets comprise five commercial ground floor units within Mount Anvil’s Filaments scheme adjacent to the Southside Shopping Centre. Farebrother represented Mount Anvil; Thackary was unrepresented.
