Schroder Property has announced the purchase of the Via XXV Aprile4 shopping mall in Winterthur, Switzerland on behalf of its EUR 800 mln listed property fund Schroders ImmoPlus. The financial details of the transaction were not disclosed.
Schroder Property has announced the purchase of the Via XXV Aprile4 shopping mall in Winterthur, Switzerland on behalf of its EUR 800 mln listed property fund Schroders ImmoPlus. The financial details of the transaction were not disclosed.
The property was built in 1980 and renovated in 1998. It comprises 16,000 m2 and is fully let with Coop and Manor being two main key tenants.
Additionally, the company has sold Le Vele shopping gallery and the Millennium Entertainment centre in Cagliari on the Italian island of Sardinia to Dutch property company Corio. The transaction sum of EUR 103 mln reflects a net yield of 7.0%. Corio said the acquisition of Le Vele fits in with its strategy of focusing on shopping centre dominance in the catchment area, good visibility and accessibility from surrounding principal routes and steady financial performance.
Last week, Schroders also completed its first acquisition for the Schroder Italian Property Fund II. The company bought a fully let office building of some 12,300 m2 located in San Donato near Milan from listed fund Valore Immobiliare Globale, managed by RREEF Fondimmobiliari SGR. Cushman & Wakefield and DLA Piper acted on behalf of the purchaser in this transaction.
