A private investor has acquired the Vancouver shopping centre in Kings Lynn, southern England for EUR 137 mln. The price reflects a net initial yield of 4.7%. The scheme, recently completed, comprises 27, 870 m[sup]2[/sup] of retail space with a further 6,967 m[sup]2[/sup] scheduled for development. The mall is anchored by a Sainsbury supermarket and other tenants include retailers Woolworths, TJ Hughes, New Look, JJB, Peacocks and Costa Coffee.
A private investor has acquired the Vancouver shopping centre in Kings Lynn, southern England for EUR 137 mln. The price reflects a net initial yield of 4.7%. The scheme, recently completed, comprises 27, 870 m2 of retail space with a further 6,967 m2 scheduled for development. The mall is anchored by a Sainsbury supermarket and other tenants include retailers Woolworths, TJ Hughes, New Look, JJB, Peacocks and Costa Coffee.
Property advisor Nelson Bakewell advised on the purchase and has been retained along with retail advisor Churston Heard to let the remaining units.