Property development and investment company Helical Bar has sold its leasehold interest at the Garden shopping centre in Letchworth, south-east England, to a joint venture between Vale Retail and Tyburn Lane Private Equity for £37.55 mln (EUR 55.68 mln). The transaction value reflects a net initial yield of 4.3%.
Property development and investment company Helical Bar has sold its leasehold interest at the Garden shopping centre in Letchworth, south-east England, to a joint venture between Vale Retail and Tyburn Lane Private Equity for £37.55 mln (EUR 55.68 mln). The transaction value reflects a net initial yield of 4.3%.
The open-air centre provides some 15,304 m2 of retail space. Anchor tenants include retailers Marks & Spencer Simply Food, Woolworths, Iceland and Peacocks. Savills acted for Helical Bar, while the buyers were represented by Capital Retail.
