On behalf of private equity clients, Waypoint has completed the sale of St.Wilfred’s Shopping Centre for £3.75 million, reflecting a triple net yield of 7.9% and delivering a circa 19% IRR to investors.
The centre is in the popular commuter town of Calverton and is located in the heart of the village, arranged around St Wilfrid's Square and adjacent to a public library, post office, doctors and health centre.
The property comprises a Sainsbury's convenience store extending to 3,100 sq ft, 15 traditional retail shops and 14 flats above. The centre is the dominant convenience offer in Calverton.
The sale follows the completion of an asset management program that has added value to the centre.