The sale of the Headrow shopping centre in Leeds to Balmain Asset Management was close to collapse this week.
The 275,750 sq ft scheme, owned by GE Commercial Finance Real Estate and Hermes, was put on the market in November for £62.5m, an initial yield of 5.62%.
It has been under offer to the £400m fund for more than a month.
But the centre, which has a number of stores in administration, is said to have been offered back to several underbidders, including a German fund that bid £750,000 less than Balmain.
David Erwin, head of retail investment at Cushman & Wakefield Healey & Baker, which is handling the sale, said: “The sale is definitely wobbling.”
References: EGi News 24/01/05
