Halladale Group has completed two deals totalling £7.5m in the regional shopping centre sector.
It has bought the Market Precinct shopping centre in Farnworth, Bolton, from Oceana Properties for £4.9m.
The centre comprises 45,000 sq ft (4,180 sq m), and includes 35 shops. The annual rental income is £410,000, reflecting a net initial yield of around 7.5%.
Halladale plans to partly redevelop the site.
It has also sold the Boscomoor Shopping Centre in Penkridge, Wolverhampton to one of its tenants for £2.6m.
The centre includes a Somerfield supermarket and seven adjoining shops. The deal reflects a net initial yield of 7.5%.
Chase & Partners and Dalgleish advised Halladale. Kenneth Peters acted for Oceana Properties.
References: EGi News 01/10/03
