Sign up for free newsletter

 

Ipswich

LaSalle Investment Management buys multi-let retail holding in Ipswich

Mon, 04/02/2013 - 10:14

LaSalle Investment Management has bought a prime multi-let retail block at 10a-14 Westgate Street and Units 1&2 Crown and Anchor Mews in Ipswich for GBP8.73m reflecting a net initial yield of 7.1 per cent.

The freehold block comprises three prime retail units leased to WH Smith, Clarks Shoes and Office Shoes, together with two small retail units at the rear.
 
The attractive part listed property is set across ground and three upper floors and offers a prime retail holding in a strong south east market town on approximately half an acre of land, with approximately nine years to lease expiry on the majority of the income.
 
Gavin Ingram, associate firector, LaSalle Investment Management, says: “Ipswich is a vigorous town with high retailer demand and almost no vacancy in the prime pitch. The main retailer thoroughfare is healthy and will only improve with the proposed refurbishment programmes planned at the two major shopping centres in town.”
 
CWM acted on behalf of LaSalle Investment Management while DTZ acted on the instructions of pension fund clients of Aberdeen Asset Management.


Subscribe to free daily newsletter
latestjobs
Consumer & Retail Investment Banking Professional

Wed, 01 Apr 2015 00:00:00 GMT

Vice President of TMT Investment Banking

Wed, 01 Apr 2015 00:00:00 GMT

Debt Capital Markets Analyst/Associate

Wed, 01 Apr 2015 00:00:00 GMT

events
3 days 22 hours from now - New Jersey
1 week 22 hours from now - Zurich
1 week 3 days from now - New York
1 week 3 days from now - San Francisco
specialreports