Wellcome Trust is tipped to have paid £23m for Meole Brace park in Shrewsbury, Shropshire. The deal reflects a 4.5% yield, one of the hottest ever paid for a retail warehouse.
At least five institutions are thought to have bid for the development, but only a handful were prepared to offer less than 5%.
Meole Brace is a reversionary investment, with a series of rent reviews due in the next 12 months.
Savills advised the vendor Guinness while Healey & Baker represented Wellcome Trust.
EGi News 11/12/1996
