LaSalle Investment Management has brought its Eagles Meadow shopping centre in Wrexham to the market.
The fund manager is seeking interest in the 400,000 sq ft mall for £81m, a 7.8% yield.
The proposed sale comes more than five years after it bought the shopping centre from Wilson Bowden Developments for around £79m.
Eagles Meadow opened in October 2008 and is anchored by a 90,000 sq ft Debenhams and 50,000 sq ft Marks & Spencer. Other tenants include River Island, Boots and an eight-screen Odeon cinema. It has an average unexpired lease term of 12 years.
Bruce Nutman, head of retail investment at Knight Frank, which is advising LIM, said: “It is quite rare to have a modern scheme with this weighted average lease expiry and attractive pricing.”
annabel.dixon@estatesgazette.com
