Capital & Regional’s Mall Fund is considering the sale of two more shopping centres for around £120m.
The Mall Fund is expected to approach the market with The Mall Middlesbrough for around £95m and The Mall Barnsley for around £25m – both for an 8% yield.
The 430,000 sq ft scheme in Middlesbrough comprises 58 shops let to tenants including Boots, Bhs, H&M and Top Shop; and the 170,000 sq ft shopping centre in Barnsley has tenants including Primark, TK Maxx and Wilkinsons.
The Mall Fund has completed a raft of shopping centre disposals recently. They include The Mall Bristol to HSBC European Active Real Estate Trust for £50.2m; a four-strong portfolio of shopping centres in Gloucester, Southampton, Romford and Falkirk to Rockspring for £135.9m; and The Mall Exchange in Ilford, Essex, to Meyer Bergman for around £71m.
CB Richard Ellis advises the Mall Fund.
annabel.dixon@estatesgazette.com
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