Speciality Shops has increased its portfolio to seven shopping centres with a total floor area of 46,450 sq m (500,000 sq ft) and a value of £110m. This follows its £26.75m acquisition of the Pyramids Shopping Centre in Birkenhead from Allied Domecq Pension Fund.
The Pyramids was bought in partnership with Hypo Bank. It will show an initial return of 8.25% on the current rent income of £2.25m and an equivalent yield of 9%.
- The Daily Telegraph 20/01/97 page 24
