Wilkinson Williams

Press Release

Queensgate Centre, Harlow

Clients of LaSalle Investment Management have acquired the freehold interest in the Queensgate Retail Park from Hercules Unit Trust. The Queensgate Centre is the largest and mosst dominant retail park serving Harlow and its wide catchment. Whilst it has a predominantly restricted to planning consent, it is occupied by Toys "R" Us, Burger King, Homestore & More, Currys, SCS, Laura Ashley, Brantano, Sports Direct, Cineword, PC World, Mothercare, Pizza Hut, Costa Coffee, Sony Centre and Subway and provides a total of 225,000 sq ft of accommodation. The purchase price of £40 million reflects a net initial yield of 10.5%, rising to 11% in January 2010 and 11.5% on the letting of the single vacant unit.

Wilkinson Williams acted for the purchaser.

For further information please contact Miles Marten

m.marten@wilkinsonwilliams.co.uk