Haslemere NV announced today that it has completed the sale of The Meadows Shopping Centre, Chelmsford for Â£49.1 million to Liverpool Victoria Friendly Society. The deal represents a net initial yield of 6.75% and a nominal equivalent yield of 7%.
The property comprises a covered retail and leisure scheme and provides approximately 14,600 sq m (157,000 sq ft) of retailing accommodation. Anchored by BhS and Wilkinsons, the Centre has a total of 33 additional units, together with an eight screen Odeon cinema and bar/restaurant which adjoin the property. The Centre also benefits from both surface car parking and a multi-storey car park.
Cushman & Wakefield Healey & Baker acted for Haslemere NV and CB Hillier Parker advised Liverpool Victoria Friendly Society.