Two retail investments have changed hands for keen yields.
Felicity Devonshire’s Devonshire Investment Holdings Limited has sold the Staples retail warehouse unit at Brighton Hill in Basingstoke to clients of Legal & General Investment Management for £7.3m, an initial yield of 5.2%.
King Sturge acted for Devonshire. CBRE represented Legal & General.
Prudential Property Investment Managers has sold the Saltire Retail Park in Glenrothes to Glenrothes Retail LLP for £13.75m, reflecting a yield of 5.73%.
The 107,000 sq ft park is multilet and generates £834,000 pa, with a rent review imminent.
DTZ Debenham Tie Leung advised PruPIM. Drivers Jonas represented Glenrothes.
References: EGi News 21/05/04
