Hammerson completes Exchange exchange
Hammerson has completed the sale of Exchange Tower in Docklands, E14, to MGPA Europe Fund III. It sold the 16-storey, 485,000 sq ft office tower at 1&2 Harbour Exchange for £134.6m – an 8.1% yield. Jones Lang LaSalle advised Hammerson; Capital Real Estate Partners acted for MGPA.
Pears buys Welsh Lakeside
William Pears Group has bought the Lakeside retail park in Brynmar, Wales, from Chelverton Deeley Freed Development for £5.8m – a circa 7% yield. The average rent at the park is £11.30 per sq ft. CB Richard Ellis and Lewis & Partners advised William Pears; Savills and EJ Hales acted for Chelverton.
Peel secures historic estate
Peel Group has bought the 1,000-acre Hulton Park Estate in Lancashire from the Hulton family for around £8.5m. The estate comprises 713 acres of park and agricultural land, 211 acres of woodland and lakes, six farms and seven residential properties. The Hulton family has occupied Hulton Park Estate since 1167. Smiths Gore advised the Hulton family; Peel was unrepresented.
Ignis offloads Madford park
Ignis Asset Management has sold the 67,000 sq ft Madford retail park in Nottingham to clients of CB Richard Ellis Investors for £14.2m – a 6.68% yield. The 6-acre park is let to Homebase, Comet and Currys. BNP Paribas Real Estate advised Ignis; Strutt & Parker acted for CBREi.
Grimsby HoF lures Rockspring
Rockspring Property Investment Managers has bought a House of Fraser department store in Grimsby, Lincolnshire, for £13.5m – a 7.1% yield. The 92,300 sq ft store, let to HoF until 2039, was sold by Development Securities. Brown Cooper Marples advised DevSec; King Sturge acted for Rockspring.
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