Hemingway Sells Pounds 45-Million Portfolio

LONDON-Landlord Hemingway has sold a mixed portfolio to Highcross for approximately pounds 45-million ($70 million). The purchase price shows an overall yield of more than 8%.

By Charlie Jacoby | April 14, 2003 at 01:01 AM

Half of the portfolio is retail with the main focus the Broadway Shopping Centre in Knowle, and other properties in Southampton; Kirkcaldy and Edinburgh. The rest is split 36% industrial with estates in Cheltenham; Thornbury and Melksham and 14% offices in Birmingham; Aberdeen and Twickenham. The overall yield is in excess of 8%.

Slade & Co represented Hemingway in the sale and King Sturge acted for Highcross.

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