Sep 06 2010
Metric has exchanged contracts to acquire Gorse Covert Shopping Centre, Loughborough from a private investor for £16.8 million, reflecting a net initial yield of 5.72% and an equivalent yield of 6.00%. The property is subject to an overriding lease to Morrisons at annual passing rent of £1,017,000. Metric will use its existing cash resources to finance the purchase.
The full announcement can be found in the attached file.
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