2nd Dec 2015 07:41
LONDON (Alliance News) - Property developer LondonMetric Property PLC on Wednesday said it has sold its PC World property in Hove to clients of FTSE 100-listed asset manager Aberdeen Asset Management PLC for GBP13.6 million.
The sale price represents a net initial yield of 5.4%.
"This asset has generated attractive returns and the sale reflects the continuing strong institutional demand for well-let property. We will continue to sell down retail assets which have delivered on their business plans and recycle into our growing distribution portfolio and developments," said LondonMetric Chief Executive Andrew Jones.
By Sam Unsted; [email protected]; @SamUAtAlliance
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