Crowley & McCarthy Chartered Accountants' property investment subsidiary CMC Capital has bought the A10 shopping centre in Berlin for EUR 245 mln. The mall was purchased on behalf of CMC Capital's property syndicate investors in a joint venture with a UK private investment firm. The acquisition represents an initial yield of about 6%.

Crowley & McCarthy Chartered Accountants' property investment subsidiary CMC Capital has bought the A10 shopping centre in Berlin for EUR 245 mln. The mall was purchased on behalf of CMC Capital's property syndicate investors in a joint venture with a UK private investment firm. The acquisition represents an initial yield of about 6%.

Located off the main A10 motorway ring road in Berlin, the centre has about 116,500 m2 of space, making it the second-largest retail mall in Germany. The centre receives eight million shoppers every year and plans are to expand it by 2009. The mall also offers some 4,000 parking spaces, a 14-screen cinema, a 30-lane bowling alley as well as several bars and restaurants.