LondonMetric have exchanged contracts to sell the PC World store in Hove to clients of Aberdeen Asset Management. The property is to be refurbished and extended to provide 28,280 sq ft of accommodation and has been prelet to PC World on a new 15 year lease at a rent of £27.50 per sq ft. The anticipated purchase price is £13.6 million, representing a net initial yield of 5.4%. Wilkinson Williams originally acquired the property for LondonMetric in 2011. The transaction is subject to obtaining planning consent, which is anticipated to be obtained before the end of 2015.
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