Jones Lang LaSalle - Retail Sale - Southport, 487-195 Lord Street

Date: 25 Oct 2002

A high street retail investment at 487-195 Lord Street, Southport has been sold by clients of Morley Fund Management to Threadneedle Property Unit Trust for a sum of £1.77 million reflecting a net initial yield of 7.85%.

The property consists of two retail units comprising 817sq m (8,790 sq ft) let to East Ltd and Bally Shoes with rents ranging between £70 and £73 ITZA.

Jones Lang LaSalle represented Morley Fund Management whilst Lambert Smith Hampton acted on behalf of the purchaser.

Jonathan Mills, Senior Surveyor, Investment, Jones Lang LaSalle Manchester comments:

‘The sale of this property reflects the continuing demand from investors for High Street retail in strong regional centres.’

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