Poundland has completed a deal to take over the lease of 99p Stores’ large unit at the Cleveland Centre in Middlesbrough following its acquisition of the rival discount retailer.
Local Retail Fund has completed a lease renewal with Foxtons in Stratford, east London, for a straight 15-year period with five-yearly open market rent reviews.
Local Retail Fund has ended the year with the purchase of the Old Mill Square Shopping Centre in Storrington, West Sussex, for £5.21m, reflecting a net initial yield of 6.8%.
Local Retail Fund has sold the Bell Quadrant Shopping Centre in Carfin, Scotland, for £3.35m, following completion of an asset management programme that has added significant value to the neighbourhood scheme.
New Frontier Properties has bought the Houndshill Shopping Centre in Blackpool from Blackstone and Catalyst Capital for £105m.
New Frontier Properties has made its debut in the UK retail market with the purchase of two shopping centres in Middlesbrough and Burton upon Trent for £179m from F&C REIT.
Waypoint Asset Management has acquired the Britten Centre in Lowestoft, Suffolk, on behalf of a client, for £6.65m, reflecting an 8.7% net initial yield.
Local Retail Fund has acquired Market Square Shopping Centre near Leeds for £3.8m, representing a net initial yield of 8.51%.
Local Retail Fund has acquired two neighbourhood retail parades in Northampton and Peterborough for £10.175m, representing a net initial yield of 7.3%.
Local Retail Fund has completed a letting to Sainsbury’s for its new convenience training facility in London.
Local Retail Fund has completed the acquisition of the Co-Operative in Leominster, Herefordshire, for £3.3m, representing a net initial yield of 7%.
Local Retail Fund has acquired a portfolio of neighbourhood parades from Morrisons for a total of £7.565m, to reflect a net initial yield of 8.5%.