Invista Real Estate Investment Management has acquired a retail property in Plymouth, UK on behalf of its clients for £15.65 mln (EUR 18.3 mln). The vendor is Prupim. The purchase price reflects an above average net initial yield of 7%.
Invista Real Estate Investment Management has acquired a retail property in Plymouth, UK on behalf of its clients for £15.65 mln (EUR 18.3 mln). The vendor is Prupim. The purchase price reflects an above average net initial yield of 7%.
The property located at 126/146 Armada Way and 33/41 Cornwall Street comprises four retail units totalling 9,200 m2, arranged over basement, ground and two upper floors. The largest of the units is let to Bhs. The average unexpired lease term is 12.5 years.
Invista represented itself and Prupim was advised by CBRE.
