Lathe Retail Investments - Retail - Warminster, Shopping Centre, Three Horses Mall

Date: 11 Aug 1998

Lathe Acquires Warminster
Shopping Centre

Lathe Retail Investments Limited, a consortium of private investors headed by lan Knight and Richard Perrin's Lathe Investments, has purchased the Three Horseshoes Mall, a 3,716 sq m (40,000 sq ft) shopping centre in Warminster for £4.9m from Teesland Ltd

Anchored by Iceland and Peacocks, the 24-unit centre generates a current rent roll of £504,000 pa and the purchase reflects a net initial yield of 9.82%.

Richard Perrin of Lathe says that the company intends to enhance the investment value of Three Horseshoes Mall by undertaking a major refurbishment and improvement programme.

Brown Cooper Marples acted for Lathe. Nicholas Robinson and Brian Oakwell & Partners advised the vendor.

Phoenex Beard will manage the scheme.

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