Boultbee sells its Maidenhead mall

Published:  01 June, 2007

Boultbee has sold the 130,800-sq ft Nicholsons shopping centre in Maidenhead to Irish Life Assurance for £85m. Key tenants include Tesco Metro, Argos, Next, WH Smith and Ottakars and the sale represents an initial yield of 5.20 per cent and an equivalent yield of 5.75 per cent.

Boultbee MD Steve Boultbee Brooks said: "We have taken the decision to sell the property to raise equity to further our overseas expansion." Boultbee's property management arm, EFM Asset Management, has been retained to manage the centre.

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