Wilkinson Williams

We purchased Houndstone Retail Park, Yeovil, on behalf of Mars Pension Fund c/o LaSalle Investment Management for £15 million at the beginning of 2009. Following the acquisition, Wilkinson Williams were retained to advise them on the letting, rent reviews and asset management of the scheme and improved the tenant line up through securing a letting to Mothercare.

Since the scheme was purchased the investment market has improved considerably and LaSalle Investment Management approached us in October 2009 for advice on the sale of the property. We undertook a full marketing campaign, and sold the property to Pradera UK in December 2009 for a price of £27.3 million reflecting a net initial yield of 6.6%.