April 4, 2016
M&G Real Estate, advised by Fawcett Mead, has sold a retail parade in Hemel Hempstead to Capital & Regional for £10.5 million, reflecting a net initial yield of approximately 7.8%.
The 50,198 sq ft property comprises Edmonds Parade and Stephyns Chambers, which front onto the Marlowes, Hemel Hempstead’s prime retail destination.
The tenants include Maplin Electronics, NatWest Bank, Robert Dyas, Claire’s Accessories, Trespass, Caffe Nero and 99p Stores. The current rent roll is £868,430 a year.
Savills advised Capital & Regional.
