LaSalle Investment Management has completed the sale of 9 11 High Street, Winchester to Southwark Pension Fund for £5.95 million (approx. 6.7 million). The sale was made on behalf of an institutional client and represents a net initial yield of 5.25%.
The property is located on the edge of the prime retail area of Winchester and is fully let in its entirety to Next Group PLC until January 2017.
Simon Green, Associate Director, LaSalle Investment Management said, "This sale is at a good price and reflects the demand for a prime retail unit in Winchester."
The Southwark Pension Fund is managed by Henderson and advised by MMX. David Freeman and James Baillie of Green & Partners acted for LaSalle's client.
Source: Citigate Dewe Rogerson