March 21, 2011
The BlackRock UK Property Fund has sold the Wickes store located on Middle Engine Lane, North Shields to LaSalle Investment Management for £5.15 million, a net initial yield of 6.75%.
The property comprises 28,200 sq ft and is let for a further seven years at a passing rent of £368,400 pa.
Edgerley Simpson Howe LLP advised The BlackRock UK Property Fund and Harland Griffiths advised LaSalle Investment Management.
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