Redevco sells off former c&A units

Redevco has sold off a portfolio of 10 former C&A stores. Standard Life Investments has agreed a STG 28.3 million deal for the string of buildings.

The portfoliop produces a rental income of around STG 2.4 million per annum, a yield of 6.9%. Following the closure of all C&A stores in the UK in 2000, the shops are let to 14 tenants.

Redevco UK managing director Andrew Vaughan siad: 'We are delighted to conlcude our first major disposal, which forms part of our ongoing strategy to diversify our portfolio.'

(source: Redevco)

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