Kingsland shopping centre sold in two lots for £16.1m
U+I has sold the Kingsland shopping centre in Thatcham for £16.1m. The Waitrose foodstore has been bought by Knight Frank Investment Management and the remaining retail by Sheet Anchor Evolve. The combined sale price reflects a blended yield of 5.86 per cent.
During its ownership, U+I’s asset management skills added significant value to Kingsland Shopping Centre. This included extending the lease on the anchor Waitrose food store by 15 years in 2015.
U+I chief executive Matthew Weiner said: “The sale of the Kingsland shopping centre marks further progress on our investment disposals strategy. We are pleased to have secured this sale above book value and are well placed to acquire new assets that align with our focus on regeneration.”