Leicester retail investment acquired
January 20th, 2010
Rowan Asset Management has acquired the retail investment property known as 23-27 Gallowtree Gate and 2-6 Victoria Arcade in Leicester from clients of AXA REIM.
The property is leased in its entirety to two tenants; Clinton Cards and 3 Retail, and produces a total income of £340,000 pax. The purchaser paid £4.1M which reflects a net initial yield of 7.84%.
BC Commercial acted on behalf of Rowan Asset Management and CBRE acted on behalf of AXA REIM.
For further information please contact Richard Beim or George Hotham of BC Commercial.
