Electric experience
Milton Keynes Council is launching the UK’s first electric car centre as part of a £9m push to hit low-emission vehicle targets. The council signed a five-year lease with Hermes Investment Management and Australian Super at Centre:mk for the 3,870 sq ft Electric Vehicle Experience Centre, which allows residents and businesses to test-drive
cars and lease them at subsidised rates.
BL buys in W5
British Land has expanded its Ealing holdings with the
£49m acquisition of 10-40 The Broadway, W5, from Benson Elliot. The freehold 1.4-acre town centre site was subject to a residential-led planning application that has now been withdrawn. The mixed-use site comprises shops for 21 high street retailers and is adjacent to British Land’s Ealing
Broadway shopping centre.
Reading retail sold
CBRE Global Investors has sold Reading Retail Park to a private investor for £31m, equating to a 6.8% net initial yield. The fully-let, 118,225 sq ft retail park, which was part of the CBRE UK Property PAIF portfolio, includes eight retail warehouse units as well as 430 car parking spaces. Cushman & Wakefield advised CBRE Global Investors.
Bridges buys retail
Bridges Fund Management has bought the Antonine shopping centre near Glasgow for £15m – an 11% yield. The fund manager bought the 205,000 sq ft shopping centre in Cumbernauld in a joint venture with Scoop
Asset Management. Developed in 2007, the centre comprises 42 shops. Savills is the managing agent. Colliers International and Gunn Property Consultants are letting agents.
