Vixcroft has exchanged contracts to buy the Nicholsons Centre in Maidenhead, Berkshire from Irish Life for £37m – a 6.2% yield.
Irish Life paid £85m – a 5.19% yield – for the 170,000 sq ft town centre mall at the peak of the market in 2007. It was bought from Boultbee, which paid £64.5m – a 5.87% yield – for the centre in 2004.
The centre has 64 shops, with tenants including Tesco, Argos and Next.
Fawcett Mead and Knight Frank advised Vixcroft; DTZ advised Irish Life.
