MEPC has found a buyer at the £115m asking price for its 37,160 sq m (400,000 sq ft) Two Rivers retail and leisure scheme in Staines.
Two Rivers is under offer to the Regent Retail Parks Partnership and Scottish Mutual at around the asking price, reflecting an equivalent yield of about 6.5%.
The scheme is one of three MEPC put on the market last summer rather than selling them into the joint venture the firm had set up with Westfield.
The Regent Retail Parks Partnership is run by Iain Reid at Aberdeen Asset Management, formerly Barclays Property Investment. The purchasers are being advised by Edgerley Simpson & Howe. Healey & Baker is acting for MEPC.
EGi News 24/11/00
