Wilkinson Williams

Press Release

LaSalle Acquire DIY in Hove

Clients of LaSalle Investment Management acquired the Homebase DIY unit on Old Shoreham Road Hove for a price of £10.21m reflecting a net initial yield of 6.5% and an equivalent yield of 7% from British Land. The property is let to Homebase Limited for a period of 20 years from December 2000 at a rent equating to £19.76 per sq ft. The unit extends to approximately 35,525 sq ft together with a garden centre of approximately 10,000 sq ft and surface car parking for 200 customer cars. Wilkinson Williams acted for LaSalle.

For further information please contact Drew Moore

d.moore@wilkinsonwilliams.co.uk