Wilkinson Williams

Press Release

British Land sell Matalan in Sutton for £13.5million

British Land have sold the freehold interest in the Matalan, High Street, Sutton to Shell Pension Trusts for a price of £13.5 million. The property benefits from an open unrestricted retail consent and extends to 26,712 sq ft. It is let on two leases to Matalan for 25 years from December 1998 and January 1999 at an average passing rent of £21.03 per sq ft. The purchase price reflects a net initial yield of 3.93%, with rent reviews due at the end of 2008. Wilkinson Williams acted for the vendors.

For further information please contact James Honeyman

j.honeyman@wilkinsonwilliams.co.uk