Conrad Ritblat - Retail - Portsmouth, Station Street

Date: 12 Apr 2000

Delancey Estates, advised by Conrad Ritblat, has sold a retail warehouse in Station Street, Portsmouth to private clients of La Salle Investment Management for £4,550,000 reflecting a net initial yield of 6% and an equivalent yield of 7.5%. Jones Lang LaSalle advised the purchasers.

The 3,054.5m2 (32,880 sq ft) retail warehouse is currently let to Matalan until August 2010, producing a rental income of £287,000 per annum with the next rent review being August 2000

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