British Land has exchanged contracts with a private investor to sell its Woking shopping centre, The Peacocks, for £116mln (EUR 147mln), reflecting a net initial yield of 5.75%. The Peacocks offers a mix of 72 retailers and five anchor stores all located within 92,903 m[sup]2[/sup] of retail and leisure space.
British Land has exchanged contracts with a private investor to sell its Woking shopping centre, The Peacocks, for £116mln (EUR 147mln), reflecting a net initial yield of 5.75%. The Peacocks offers a mix of 72 retailers and five anchor stores all located within 92,903 m2 of retail and leisure space.
Andrew Jones, British Land director and head of Retail, said: 'We are in a difficult investment market at the moment; however we are continuing to successfully implement our disposal strategy and have achieved an attractive price for a good asset. This sale is in line with our strategy to focus the retail portfolio towards those assets which we believe will benefit the most from our occupier-led strategy.'
