LaSalle Investment Management announced on Thursday that it has acquired the Arena Shopping Park in Haringey, North London. The purchase price was £53 mln (EUR 63 mln), giving a 5.34% net initial yield.
LaSalle Investment Management announced on Thursday that it has acquired the Arena Shopping Park in Haringey, North London. The purchase price was £53 mln (EUR 63 mln), giving a 5.34% net initial yield.
The Arena Shopping Park property comprises 10,700 m2 of retail space, with unrestricted open A1 planning consent, including food. Located on Green Lanes (A105), adjacent to Harringay Green Lanes Rail Station, the scheme is anchored by an adjacent Sainsbury's food store.
Richard Debney, fund manager, LaSalle Investment Management, said: 'The acquisition of Arena Shopping Park reflects our belief that high quality retail space located in sought after locations will continue to outperform the wider market in spite of the obvious pressures of the economic downturn.'
LaSalle were advised by were advised by CWM and Hogan Lovells.
