Crown buys in Hemel
Published: 16 March, 2011
Invesco Real Estate sells Apsley Mills retail park to The Crown Estate for £35m
Apsley Mills was purchased by Invesco in June 2008 for £29.32m on behalf of a US pension fund client. Apsley Mills consists of five retail units totalling 97,000 sq ft and is currently 100 per cent let to five retailers: Homebase, Argos, Currys, CarpetRight and Comet. This bulky goods property also features an external garden centre in front of Homebase and provides 336 customer parking spaces.
Rory Morrison, Senior Director of European Fund Management, said: "Apsley Mills was a good investment for our client as it enabled them to take their first step into Europe and begin to build their diversified global portfolio."
HP Four acted on behalf of Invesco Real Estate, and Griffiths Eccles acted for The Crown Estate.
