F&C sells Lion Walk
Published: 30 September, 2008
F&C Property has sold the Lion Walk shopping centre in Colchester, Essex to LaSalle Investment Management for £69m
Lion Walk shopping centre comprises 236,000 sq ft of retail with some offices and residential flats in the centre of Colchester. It is anchored by retailers such as M&S, Boots and Bhs. The property is held on a 125-year lease, and the current rental income equates to £4.388m pa, based on prime rents of around £167 psf zone A. Richard Kirby, director of property funds at F&C Property Asset Management said: "This deal underlines the fact that there are still investors looking for attractive, well located retail holdings within the marketplace."
