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Tiger Sells Pounds16m Portfolio To Mayfair Capital Partners

LONDON-Tiger Developments has sold a mixed use commercial property portfolio to Mayfair Capital's M C Property Growth Fund for more than pounds 16 million ($25 million), reflecting a net initial yield of around 7%.

By Graham Parker | Updated on July 28, 2003

LONDON-Tiger Developments has raised over £16 million ($25 million) with the sale of a mixed-use portfolio of seven properties to the M C Property Growth Fund, a UK limited partnership managed by Mayfair Capital Partners. The sale price reflects a net initial yield of around 7%.

The portfolio comprises four retail warehouse schemes in Portsmouth; Walsall; Shipley and Bradford; an office building in Glasgow, a retail/office investment in Marlow and a high street shop in Peterborough. The total rent roll is in excess of £1.2million ($1.9 million) and over 33% is secured on leases with more than 15 years left to run.

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