LAND SECURITIES 24 November 2014
The Harvest Limited Partnership, a 50:50 joint venture between Land Securities and J Sainsbury has sold The Maltings shopping centre, Salisbury to TIAA Henderson for £24.8 million, reflecting a net initial yield of 6.5%.
The 92,000 sq ft shopping centre comprises a Sainsbury's supermarket, 27 additional retail units which are home to retailers such as Greggs, Superdrug and Robert Dyas, and a 614 space car park.
Ailish Christian-West, Head of Shopping Centres at Land Securities, said: "The disposal of The Maltings, Salisbury fits our strategy of moving away from supermarkets and secondary assets to focus on our key strategic areas of dominance, experience and convenience where we anticipate the strongest future growth."
-Ends-
Notes to editors:
Land Securities is the UK's largest listed commercial property company and a member of the FTSE 100. The company owns and manages more than 25 million sq ft of property, from shopping centres to offices, valued in excess of £13.2 billion.
For further information, please contact:
Land Securities Group PLC
Press
Molly Neal
T: +44 (0)20 7024 5460
Molly.Neal@landsecurities.com
Investors
Ed Thacker
T: +44 (0)20 7024 5185
Edward.Thacker@landsecurities.com
|
distributed by
|
