News - Midlands
Nottinghamshire mall sold for £16m
Sutton-in-Ashfield Shopping Centre has been sold for £16.1m. The Nottinghamshire outlet has been bought by property development and investment group Helical Bar.
London-based Helical said the deal represented an initial yield of 8.5 per cent.
The freehold 140,000 sq ft town centre scheme was sold by LaSalle Investment Management.
Tenants include New Look, Superdrug, and Argos. Green and Partners advised the vendor, Savills advised Helical.
Duncan Walker, of Helical Bar, said: "We continue to find good opportunities in a difficult investment market where stock picking is key. Recycling our equity to take advantage of wide yield spreads is significantly enhancing the cashflow of our business."