Jones Lang Wootton - Retail - Barking, Vicarage Field Shopping Centre

Date: 12 Aug 1998

Retail Chains Queue Up In Barking

Hermes Property Asset Management Ltd, on behalf of BRUEL Fund Trustees Ltd, have sold their long leasehold interest in Vicarage Field Shopping Centre, Barking to clients of REIT Asset Management.

The Centre, anchored by a Somerfield Supermarket and with tenants including WH Smith, Mothercare, Dorothy Perkins and Dixons, was sold for a sum of £20.56m to show a net initial yield of approximately 7.5 % and an equivalent yeild of approximately 8.75%.

Jones Lang Wootton acted on behalf of Hermes Property Asset Management Ltd whilst Franc Warwick acted on behalf of REIT Asset Management.

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