Mall Aberdeen sale raises £47m
Published: 25 February, 2010
The Mall fund has sold its Aberdeen Shopping Centre to a client of Rockspring Property Investment Managers for £47.4m reflecting an initial yield of 7.9 per cent.
In the latest of a string of disposals, The Mall fund, managed by Avivia and Capital & Regional, has sold the Mall Aberdeen. The sale price of £47.4m compares with a 31 December 2009 valuation of £46.0m
Opened in 1984 as the Trinity Centre, the Mall Aberdeen is a single-level centre housing 27 units, anchored by Primark and Debenhams, which both trade over three levels. It has a 408-space car park and an underground link to the railway station and Hammerson's newly opened Union Square.
Shortly before Christmas 2009 the Mall fund sold the Mall Bexleyheath toLaSalle Investment Managementor £97.9m reflecting an initial yield of 7.55 per cent, and its Preston property is also understood to be under offer.
