Nov 28 2013
LondonMetric announces the sale of three retail parks in two separate transactions. It has sold Nottingham Road Retail Park in Mansfield and St Mary’s Road in Sheffield to Henderson Global Investors for £19.2 million, reflecting a net initial yield of 6.77% and generating a blended ungeared total return of 14.0% per annum. Separately on behalf its MIPP joint venture with USS, it has sold the Wickes unit in Oxford for £12.4 million (£4.1 million LondonMetric share) to Lothbury Investment Management, reflecting a net initial yield of 5.3%.
The full announcement can be found in the attached file.
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