Wilkinson Williams

Press Release

LxB sell portfolio of 7 properties to Cheval Properties

LxB have sold a portfolio of 7 retail warehouse and foodstore properties to Cheval Properties for a price of £48.6 million, reflecting a net initial yield of 4.88% and an equivalent yield of 5.14%. The portfolio comprises retail warehouses in Clacton, Coventry, Newport (Isle of Wight), Paisley, St Albans and Thetford and a foodstore in Bournemouth. The portfolio is let to substantial national covenants including Argos, Matalan and Waitrose and illustrates a low overall average rent of £10.27 per sq ft off a total current rental income of £2.513 million.

Wilkinson Williams advised LxB, with Edgerley Simpson Howe acting for Cheval.

For further information please contact Paul Wilkinson

p.wilkinson@wilkinsonwilliams.co.uk