APAM sells two high street blocks

APAM and its investment partner Varde Partners have sold two prime high street retail assets, which were acquired in 2015 as part of the Peacock and Toucan portfolios.
The pair have a sold prime retail unit located on Cheapside in Barnsley which is let to Boots for 51 years. A private investor purchased the property for £4.55m, which reflected a net initial yield of 5.1%.
They have also completed the sale of 28-30 King Street Manchester, with tenants including Charles Tyrwhitt and Mint Velvet for £3.9m, which reflected a net initial yield of 5.75%.
Kevin Etchells at APAM said: “We are delighted with the sale of these assets which represent a profitable exit over a short period of time and demonstrates the continued investor appetite of core well let assets.”
Joiner Cummings advised APAM on the sale of Barnsley.
This article originally appeared on the CoStar website.

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