Grosvenor Asset Management has acquired the long leasehold interest of the 26,000 sq m (280,000 sq ft) Selbourne Walk Shopping Centre in Walthamstow, north London, for £31m from AMP Asset Management. The deal reflects an initial yield of 8.4%.
Selbourne Walk is anchored by BhS and comprises 51 retail units and 870 car parking spaces. The investment generates over £3m pa.
So far this year, Grosvenor paid the Ladbroke Group £50m for four mixed-use properties.
Those properties are: the 5,295 sq m (570,000 sq ft) mixed use Savoy Court, London WC2. A 1,254 sq m (13,500 sq ft) mixed-use development at 414 The Strand, Lonodn WC1 as well as developments in Lewes, Sussex and Hoddesdon, Hertfordshire.
DTZ Debenham Thorpe acted for AMP while Franc Warwick represented Grosvenor.
EGi News 05/08/96
