Development Securities has spent £18.6m on two assets in Sidcup, south-east London, and Bristol.
The company has bought 82,000 sq ft shopping centre Borough Parade in Chippenham for £16.3m – a 7% yield.
It was purchased from Clearbell Capital and Tristan Capital Partners.
In Sidcup it has paid £2.3m – a 7.25% yield – for the 82-year leasehold interest in a 22-acre site occupied by World of Golf on a 20-year lease.
Matthew Weiner, director at Development Securities, said: “Both of these acquisitions have allowed us to recycle equity into investment assets that offer stable long-term income streams.”
Nick Sweeney advised on the World of Golf sale.
joanna.bourke@estatesgazette.com
