Acting for LaSalle Investment Management, on behalf of their clients, Abbey National (CF Trustee) Limited, Wright & Partners has acquired two adjoining freehold shops on prime Cambridge Street in Harrogate town centre. The shops are let to River Island and HMV and the price paid of £9.2 million reflected a net initial yield of 5.395%.
This was the first retail investment acquisition by the purchaser since LIM secured the asset management mandate. Kevin MacGarrow noted that “all parties are delighted with the acquisition in what was an off market transaction”.
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