13th Jan 2016 07:52
LONDON (Alliance News) - FTSE 250-listed property developer LondonMetric Property PLC on Wednesday said its Metric Income Plus Ltd Partnership joint venture has sold three retail parks for a total of GBP29.5 million.
The venture, in which LondonMetric is partnered with Universities Superannuation Scheme Ltd, has sold its parks in Camborne, Haverhill and Bristol.
The Camborne Retail Park in Cornwall has been sold to an unnamed private investor for GBP9.9 million. The Cambridge Road Retail Park in Haverhill has been sold to an unnamed UK pension fund for GBP7.0 million, and the Longwell Green Retail Park in Bristol was sold to CBRE Global Investors, the real estate advisor and investor, for GBP12.6 million.
The blended net initial yield on the three sales was 5.8%, LondonMetric said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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