Kilmartin Property Group and joint venture partner Highland Developments have sold a 60,000 sq ft retail block in Hanley, Stoke-on-Trent, for £16m.
The deal reflects an initial yield of below 6%.
Edinburgh-based Kilmartin and Highland have refurbished the 60,000 sq ft retail block, which is adjacent to the Potteries Shopping Centre.
High street retailer TK Maxx has a 30,000 sq ft unit at the scheme, while tenants including Goldsmiths and Thomas Cook occupy the remaining 30,000 sq ft.
Douglas Stevens and Co acted for Kilmartin and Highland Developments, while Chesterton acted for Threadneedle.
References: EGi News 22/03/05
