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Royal London Sells Reading Retail Lot to Legal & General

LONDON-Royal London Asset Management has sold the former Littlewoods store on Broad Street and Friar Street in Reading, Berkshire to Legal & General for pounds 19.6 million ($31 million).

By Graham Parker | Updated on October 03, 2002

LONDON-Royal London Asset Management has sold a multi-let retail scheme in Reading, Berkshire to Legal & General for £19.6 million ($31 million), reflecting a blended net equivalent yield of 6%.

The former Littlewoods department store, which has frontages to both Friar Street and Broad Street, was split up into smaller units in 1998. Tenants now include Next; Schuh; Superdrug; Fuller Smith & Turner and Littlewoods on leases expiring between 2015 and 2023.

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