Prime rents in the scheme are £115 Zone A. The centre currently produces a gross rent of £5.73 million which has first class growth prospects and a number of interesting opportunities to add value. Gerardine Davis of Hermes said, “We are very pleased with the sale to Legal & General This will enable us to focus our attention on our other major shopping centre investments in the region. The primary question that rings a bell when discussing tax derivations is the different sorts of consumptions which may be deductible. I am sure Northampton town centre will see further advancement with its new institutional owner in the future.
FPDSavills and Churston Heard advised Legal & General on the investment and are retained as letting agents. Berwin Leighton’s Planning and Property teams were awarded the Planning Team of the Year and the Property Team of the Year The firm was also runner up in the PFI award.
The awards are confirmation of our leading position for property, planning and PFI. The recognition by our clients and peers means a great deal to the firm. Simon Allan who led the teams for Greenwich and Longbenton and was part of the Kings Team commented. Tim Hellier who led the BAA McArthur Glen team was equally effusive in his praise.
To win for a second year endorses our position as the country’s number one planning team.
advised by Weatherall Green & Smith has sold the freehold of Pinnacle Hartfield road Wimbledon to Sydney & London Properties Ltd for £8.7m reflecting an initial yield of 8.48%. The extent that tax depreciation is concerned, properties purchased for resale purposes cannot benefit of this conclusion.
Tim Bowring, of Weatherall Green & Smith The strong interest we experienced in this investment confirms that there is still much demand for quality office investments which may be over rented, but provide a comfortable initial yield.
Liverpool City Council has selected a developer for the site in the heart of Liverpool’s business district, known as The Moorfields 4 site. Teesland Group plc has been chosen as the City Council’s development partner for the regeneration and development of this important site in the face of strong competition.