REDEVCO UK the privately owned property investment and development company has concluded an off-market negotiation with Standard Life Investments on the purchase of a retail portfolio comprising 10 properties for Â£51.4m.
The portfolio includes properties in Colchester, East Kilbride, Gateshead, Grimsby, Harrow, Huddersfield, Leeds, Luton, Oldham and Warrington and produces a net rental income of Â£3.638m.
The transaction was agreed directly between principals following a previous portfolio deal between the parties for 10 retail stores for Â£28.3m in June 2002.
The properties all comprise long leasehold interest in dominant shopping centres throughout the UK. Tenants include Next, Woolworths, Littlewoods, TK Maxx, Primark, Hennes with average unexpired lease terms of over 15 years.
(source: Redevco UK)