Mayfair Capital's PITCH fund (Property Income Trust for Charities), has bought two properties in northwest England for a total of £23 mln (€29 mln).
Mayfair Capital's PITCH fund (Property Income Trust for Charities), has bought two properties in northwest England for a total of £23 mln (€29 mln).
The sites include a €17 mln retail and leisure asset in Widnes, Cheshire, bought from Property Alliance Group and a €11.5 mln site in Skipton, Yorkshire, bought from Maple Grove Developments.
The deals increase the size of PITCH to €367 mln.
James Thornton, CEO of Mayfair, said, 'These two acquisitions offer a blended yield of 6.7%, which will enable the fund to continue to deliver a relatively high income distribution.'