Warner Estate Holdings has bought the Hale Leys Shopping Centre in Aylesbury, Buckinghamshire for £26.9m.
The deal, with clients of Henderson Global Investors, reflects a net initial yield of 6.1%, which is expected to increase to 6.5% on reversion.
The shopping centre, which is located between the High Street and the Market Place in Aylesbury, was opened in 1983. It comprises 30 shops totalling 90,000 sq ft, which are let to tenants including Boots, Next and River Island.
The shopping centre will be held as part of Warner Estate’s core property portfolio. This purchase increases Warner’s total property portfolio under management to around £1.1bn.
References: EGi News 27/09/04
